Economic Growth And Development — Practice Quiz
ICSE · Class 11 · Economics
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Quick Quiz: Economic Growth And Development
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What does economic growth literally mean in relation to size or magnitude?
Which statement best describes economic growth?
What is GDP?
Which measure is the best way to judge economic growth because it removes inflation?
Sample Questions
Why is GDP measured at constant prices for real economic growth?
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To separate output change from price change
GDP is measured at constant prices so that the change in output can be seen clearly without mixing it with the change in prices.
How is growth rate generally expressed?
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As a percent per annum
Growth rate is generally expressed as a percentage per year, which makes comparison across periods easier.
Which of the following are examples of variables included in economic growth?
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National output, Capital volume, Savings and investment
Economic growth refers to expansion in economic variables such as national output, capital volume, and savings and investment. Illiteracy rate is linked more with development.
Which statement about economic growth and time is correct?
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It describes the short-run performance of an economy
Economic growth is often used to describe the short-run performance of an economy by comparing GDP from one period to another.
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