#1
What is the primary focus of the Human Development Index (HDI) as an indicator?
Life expectancy
ExplanationEmphasizes life expectancy as a measure of development.
#2
Which economic indicator is used to measure the overall health of an economy and is calculated as the sum of consumer spending, business investment, government spending, and net exports?
Gross Domestic Product (GDP)
ExplanationGDP is a comprehensive measure of economic activity.
#3
Which indicator is used to measure the overall level of prices in an economy?
Consumer Price Index (CPI)
ExplanationCPI measures inflation by tracking price changes in a basket of goods.
#4
Which economic indicator measures the percentage change in the average prices of a basket of goods and services over time?
Consumer Price Index (CPI)
ExplanationCPI tracks inflation over time.
#5
Which economic indicator measures the percentage of the labor force that is unemployed and actively seeking employment?
Unemployment Rate
ExplanationUnemployment rate measures joblessness in the labor force.
#6
Which economic development theory emphasizes the role of technology and innovation in driving economic growth?
Endogenous Growth Theory
ExplanationFocuses on internal factors like technology for economic growth.
#7
Which economist is associated with the concept of 'creative destruction' in economic development?
Joseph Schumpeter
ExplanationSchumpeter introduced the concept of creative destruction.
#8
According to the Solow Growth Model, what is the main driver of long-term economic growth?
Technological progress
ExplanationTechnological progress is central to sustained growth in this model.
#9
What is the key focus of the Rostow's Stages of Economic Growth model?
Modernization and development stages
ExplanationFocuses on stages of development and modernization.
#10
What does the term 'Gini Coefficient' measure in the context of economic development?
Income Inequality
ExplanationMeasures the degree of income inequality in a society.
#11
According to Dependency Theory, what is a key factor contributing to the underdevelopment of certain nations?
Colonial history and exploitation
ExplanationColonial exploitation is central to underdevelopment according to this theory.
#12
In the context of economic development, what does the 'Lewis Model' focus on?
Dual economy and surplus labor
ExplanationExamines transition from traditional to modern economy with surplus labor.
#13
Which economic development theory emphasizes the role of institutions, property rights, and the rule of law in fostering economic growth?
Institutional Theory
ExplanationInstitutions and property rights are central in this theory.
#14
In the context of economic development, what does the 'Big Push' theory propose?
Large-scale simultaneous investments in various sectors
ExplanationProposes massive investments across sectors for development.
#15
Which economic development theory argues that international trade tends to perpetuate global inequalities?
Dependency Theory
ExplanationStates that international trade perpetuates global inequalities.