#1
Which of the following is a measure of economic development?
Gross Domestic Product (GDP)
ExplanationIndicator of a country's economic performance.
#2
What does HDI stand for?
Human Development Index
ExplanationMeasure of a country's social and economic development.
#3
Which organization publishes the 'World Development Report' annually?
World Bank
ExplanationAnalyzing global economic trends and challenges.
#4
Which factor is NOT considered a component of the HDI (Human Development Index)?
Population density
ExplanationNot a direct factor in assessing human development.
#5
Which term describes the economic situation where prices rise continuously, eroding purchasing power?
Inflation
ExplanationGeneral increase in prices over time.
#6
What is the main characteristic of a 'developing country'?
Low Human Development Index (HDI)
ExplanationCountry with lower levels of social and economic development.
#7
Which country has the highest GDP (nominal) as of 2022?
United States
ExplanationLeading global economy in terms of nominal GDP.
#8
What is the Gini coefficient used for in economics?
Measuring income inequality
ExplanationAssessing the distribution of wealth or income.
#9
Which region has historically been referred to as the 'Global South'?
Latin America, Africa, and Asia
ExplanationRegions facing economic challenges, typically in the southern hemisphere.
#10
What is the main focus of the 'Washington Consensus'?
Promoting free trade and market-oriented policies
ExplanationAdvocacy for neoliberal economic policies.
#11
What does the term 'Brain Drain' refer to in the context of economic development?
The migration of highly skilled individuals from developing to developed countries
ExplanationLoss of skilled labor from less developed nations.
#12
Which country has the highest HDI (Human Development Index) as of the latest report?
Norway
ExplanationLeading in overall social and economic development.
#13
Which theory suggests that the gap between rich and poor nations is widening due to globalization?
Dependency theory
ExplanationCritique of global economic systems favoring developed nations.
#14
What is 'Gross National Happiness' used to measure?
Emotional well-being
ExplanationAlternative metric focusing on citizens' happiness.