#1
Which of the following is not a measure of economic development?
Consumer Price Index (CPI)
ExplanationCPI is a measure of inflation, not economic development.
#2
What does GDP stand for?
Gross Domestic Product
ExplanationGDP measures a country's total economic output.
#3
Which of the following is a measure of a country's total economic output?
Gross Domestic Product (GDP)
ExplanationGDP quantifies the overall economic output of a country.
#4
Which economic indicator measures the percentage change in the quantity of goods and services produced over a specific period?
Gross Domestic Product (GDP)
ExplanationGDP assesses the change in overall production.
#5
Which economic concept refers to the condition where a country's imports exceed its exports?
Trade deficit
ExplanationTrade deficit occurs when imports surpass exports.
#6
Which indicator measures the average lifespan, education level, and income per capita of a country?
Human Development Index (HDI)
ExplanationHDI assesses overall well-being and development.
#7
What is the Gini Coefficient used to measure?
Income Inequality
ExplanationGini Coefficient quantifies income distribution inequality.
#8
What does the Purchasing Power Parity (PPP) measure?
Cost of living differences between countries
ExplanationPPP adjusts currency values to compare living costs.
#9
Which indicator represents the percentage change in the price index of a basket of goods and services consumed by households?
Consumer Price Index (CPI)
ExplanationCPI measures inflation based on consumer goods.
#10
What is the primary purpose of the Sustainable Development Goals (SDGs) established by the United Nations?
To address global economic inequalities
ExplanationSDGs aim at global economic and social improvement.
#11
Which of the following best describes the poverty rate?
Percentage of people living below a certain income threshold
ExplanationPoverty rate indicates the proportion below a set income level.
#12
What is the relationship between inflation and unemployment known as?
Phillips Curve
ExplanationPhillips Curve describes the inverse relation between inflation and unemployment.
#13
What is the primary determinant of a country's comparative advantage in international trade?
Labor productivity
ExplanationLabor productivity determines a country's comparative advantage in international trade.