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Manufacturing

Which of the ...

Question

Which of the following is measured by upward movement in real national income?

A

Economic growth

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B

Economic development

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C

Both A and B

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D

None of these

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Solution

The correct option is A Economic development
Progress in an economy, or the qualitative measure of this. Economic development usually refers to the adoption of new technologies, transition from agriculture-based to industry-based economy, and general improvement in living standards.

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Similar questions

Q. Economic growth is a quantitative measure and is measured in terms of an increase in national income.

Q. Economic growth means increase in real national income.

Q. Distinguish between the following.

1. Per capita income and national income.

2. Economic growth and Economic development

Q. State whether the following statements are true or false.

1. Economic development is not so important for a country like India.

2. Economic growth means increase in real national income.

3. Economic development involves only economic growth.

4. Economic development is a smooth and simple process.

Q. The National income aggregates are used for which of the following purposes

1. Comparison between different nations based on Socio-economic criterian.
2. Comparison of economic growth of a nation with itself.
3. Measurement of economic indicators of a nation.

Which of the above statements are correct?

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