Development Economics QUESTIONS AND
ANSWERS 100% PASSED
Get a hint
credit - ANS Borrowed money.
debt cancellation - ANS The act of eliminating the debt owed by a developing country government in
order to allow it to achieve development objectives.
development indicators - ANS Statistics that may be used to assess the level of development of an
economy. These may be single indicators, e.g. infant mortality rate, or composite indicators, e.g. Human
Development Index)
economic development - ANS A multidimensional concept involving improvement in standards of living,
reduction in poverty, improved health and education along with increased freedom and economic
choice.
economic growth - ANS An increase in the actual level of output of goods and services produced by an
economy, i.e. an increase in real GDP over time.
factor endowment - ANS The factors of production that a country has available to produce goods and
services.
foreign debt - ANS The total debt owed by the government of one country to foreign lenders.
foreign direct investment - ANS Long-term investment by a multinational company in a foreign country.
GDP per capita - ANS The total money value of all final goods and services produced in an economy in
one year per head of the population.
ANSWERS 100% PASSED
Get a hint
credit - ANS Borrowed money.
debt cancellation - ANS The act of eliminating the debt owed by a developing country government in
order to allow it to achieve development objectives.
development indicators - ANS Statistics that may be used to assess the level of development of an
economy. These may be single indicators, e.g. infant mortality rate, or composite indicators, e.g. Human
Development Index)
economic development - ANS A multidimensional concept involving improvement in standards of living,
reduction in poverty, improved health and education along with increased freedom and economic
choice.
economic growth - ANS An increase in the actual level of output of goods and services produced by an
economy, i.e. an increase in real GDP over time.
factor endowment - ANS The factors of production that a country has available to produce goods and
services.
foreign debt - ANS The total debt owed by the government of one country to foreign lenders.
foreign direct investment - ANS Long-term investment by a multinational company in a foreign country.
GDP per capita - ANS The total money value of all final goods and services produced in an economy in
one year per head of the population.
