Meaning And Scope Of Economic Growth And Development Jamb Economics Past Questions
Question 1
Economic growth is different from economic development because economic growth
- A. describes expansion and changes
- B. is measurable but not objective
- C. describes expansion and not change
- D. is not measurable but objective
Question 2
A good measure of the standard of living usually used for international comparison is_______
- A. Per capita income (PCI)
- B. Gross national product (GND)
- C. Net national income (NNI)
- D. Gross domestic product (GDP)
Question 3
A continuous increase in national income accompanied by the structural transformation of all indices is called
- A. economic planning
- B. economic growth
- C. economic reforms
- D. economic development
Question 4
A good indicator of economic development is an increase in
- A. gross national product
- B. per capital income
- C. real national income
- D. real per capital income
Question 5
If a country's national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?
- A. 5%
- B. 15%
- C. 20%
- D. 100%
