Economics
GDP and Welfare
Practice questions
If industrial output rises but noise pollution increases greatly which cost is not fully reflected in GDP?If a country's GDP is (₹12000) crore and population is (8) crore what is its per capita GDP?Why may broad welfare remain limited if output growth mainly consists of goods bought only by high-income groups?If employment rises but most jobs are insecure and very low-paid what conclusion is appropriate?Why may GDP rise when hospital and construction services increase after a natural disaster?If real per capita GDP rises and income inequality falls what can generally be expected?Why may welfare rise when the government provides free libraries?If output rises but workers' average sick-leave days also increase sharply what may this indicate?If GDP remains constant but the crime rate falls greatly, what may happen to social welfare?Clean air is freely available in an economy. Why is its value generally not added to GDP?Why may welfare rise if income is redistributed from rich families to poor families while total income remains unchanged?If new technology improves product quality without changing price, why may GDP understate the welfare gain?If tourism raises income in a region but waste and congestion increase greatly, how should net welfare be measured?If infant mortality falls along with GDP growth, what type of improvement does it indicate?If per capita GDP rises but unemployment also rises, what conclusion is appropriate?Why is it inappropriate to rely only on current GDP when natural resources are being depleted rapidly?If sales of home-security equipment rise because crime increases, what may happen to GDP and welfare?What does it indicate if GDP rises and access to clean water also increases?If a country's total income is ₹15,000 crore and its population is 10 crore, what is its per capita income?If output rises but average life expectancy falls because of air pollution, what conclusion is appropriate?