Which of the Following Is True About Economic Development of a Nation

question 73

Multiple Choice

Which of the following is true about economic development of a nation?

• A) The purchasing power parity is a poor indicator of a people's total well-being.
• B) GDP is a larger figure and includes a nation's income generated from exports, imports, and international operations.
• C) Illegal activities such as gambling and black market transactions are considered in GDP and GNP.
• D) Using gross product figures to compare production across countries accounts for different cost of living in each country.

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Definitions:

Mass Purchasing Power

The aggregated financial ability of the population or consumers to buy goods and services.

Employment

The condition of having paid work or the process of hiring someone for a job.

Roosevelt's Opponents

Individuals, political parties, or groups that opposed the policies, actions, or leadership of President Theodore Roosevelt (1901-1909) or Franklin D. Roosevelt (1933-1945).

Liberty

Experiencing autonomy in a community, unhindered by authoritative constraints on one's lifestyle, conduct, or political perspectives.