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How is economic growth rate calculated ?

ABy dividing national income by population.

BBy comparing the increase in national income from the previous year to the current year.

CBy measuring the rate of unemployment.

DBy assessing the improvement in the standard of living.

Answer:

B. By comparing the increase in national income from the previous year to the current year.

Read Explanation:

ECONOMIC GROWTH RATE

  • Now let us see how economic growth can be calculated.

  • A measure called economic growth rate is used for this.

  • Economic growth rate is the rate of increase in the national income during the current year as compared to the previous year


Related Questions:

Which of the following is not a feature of socialist economy?

i.Economic equality 

ii.Public welfare

iii.Public and private sector exists 

ഇന്ത്യൻ സമ്പത്ത് വ്യവസ്ഥയിൽ ഏറ്റവും കൂടുതൽ സംഭാവന നൽകുന്നത് ഏത് മേഖലയാണ് ?
കമ്പോളത്തിൽ ഉപഭോക്താവിന് ഉത്പന്നങ്ങൾ തിരഞ്ഞെടുക്കാനുള്ള സ്വാതന്ത്ര്യം കുറവായുള്ളത് ഏത് സമ്പദ്‌വ്യവസ്ഥയിലാണ് ?
സംരംഭകർക്ക് ഏത് ഉത്പന്നവും ഉത്പാദിപ്പിക്കാനുള്ള സ്വാതന്ത്ര്യവും സ്വകാര്യ സ്വത്തവകാശവുമുള്ള സമ്പദ്‌വ്യവസ്ഥ ഏത് ?

What are the problems faced by the socialist economy?.List out from the following:

i.The public sector's investment potential is less and this affects economic growth adversely.

ii.In the absence of private ownership of wealth and transfer of wealth to the legal heir, people are less likely to work hard.

iii.Moreover, the consumers have only a limited choice of products.