ECONOMIC GROWTH

Economic growth measures the

• a)     Growth of productivity
• b)     Increase in nominal income
• c)     Increase in output
• d)     None of the above

Which of the following explains the term economic growth

• a)     Increase in per capita production
• b)     Increase in per capita real income
• c)     Structural change in the economy
• d)     All of the above

Economic growth can be measured by

• a)     The CPI
• b)     The CBI
• c)     GDP
• d)     MPC

When an economy produces more output per capital the economy is said to be having

• a)     Inflation
• b)     Economic growth
• c) Economic planning
• d)     Living standard

Which of following statement is true about the Economic Growth

• a) It refers to increase in Gross Domestic Product (GDP)
• b) It refers to the long and sustained rise in real Gross Domestic Product (GDP)
• c) It is characterized by fall in unemployment rate
• d)     Rise in GDP on monetary term

With economic growth, the proportion of labour-force engaged in agriculture

• a)     Increases
• b)     Decreases
• c)     Remains unaffected
• d)     Changes in an uncertain manner

The capital-output ratio in a country during the different phases of growth

• a)     Remains unchanged
• b)     Fluctuates widely
• c)     Changes within narrow limits
• d) Shows a secular declining trend

Among the following determinants of growth, which one is a non-economic factor

• a)     Natural resources
• b)     Population growth
• c)     Favourable legislation
• d)     Capital accumulation

The rate of growth of an economy mainly depends upon

• The rate of growth of the labour force
• b)The proportion of national income saved and invested
• c) The rate of technological improvements
• d)     All of the above

Economic growth can be seen by an outward shift of

• a)     The Production Possibility Frontier
• b)     The Gross Domestic Barrier
• c)     The Marginal Consumption Frontier
• d)     The Minimum Efficient Scale