ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Economic objectives of the government the principal objectives of government policies (maintaining full employment, ensuring price stability, achieving economic growth and having a balance of payments)
Detailed explanation-2: -The aim of economic development is to improve the material standards of living by raising the absolute level of per capita incomes. Raising per capita incomes is also a stated objective of policy of the governments of all developing countries.
Detailed explanation-3: -The answer to this question is C. Economic growth is a long-run process resulting from the compounding of many events.
Detailed explanation-4: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.