Category: The Meaning and Measurement of Economic Development

A. infant mortality life expectancy and adult literacy rate
B. crime rate clean environment and quality of housing
C. air pollution rate, Water pollution rate and sanitation
D. health education and environment

A. current period
B. base-period
C. forecasting
D. future year

A. P = ΣPnqn/Σpoqn
B. P = ΣPoqo/Σpnqn
C. P = ΣPnqo/Σpoqo
D. P = ΣPnqn/Σpoqo

A. equality
B. poverty
C. employment
D. human development

A. [(GDPc – GDPp)/ DGPp]100
B. [(GDPc – GDPp) DGPp]100
C. GNPc – DGPp100)
D. [GDPp – GDPc]100

A. Purchasing Power Parity
B. Physical Quality of Life Index
C. Human Development Index
D. The Laspeyres index

A. GNP is understated for developed countries, since a number of items included in their national incomes are intermediate goods
B. The economic contribution of a housewife is a peasant family may not be measured is GNP is poor country
C. GNP in understated for developing countries since many of their labor intensive good have no impact on exchange rate since they are not traded
D. GNP is overstated for for countries where the price of foreign exchange is less than market clearing price

A. United Arab Emirates
B. Armenia
C. Sudan
D. Bangladesh

A. a theory that tells us that exchanged rates between currencies are in equilibrium when their purchasing power is the same in both countries
B. GDP divided by exchange rate
C. a measure of income inequality
D. a measure of infant mortality in developing countries

A. The boundary between rich and poor countries has become clearer in 1990s
B. The fastest growing countries must be the ones with the highest per capita GNP
C. A few poor countries like South Korea and Malaysia in the 1950s grew much more rapidly than some higher-income countries like Uruguay and New Zealand
D. Today all high and Upper-middle income countries are Western.