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Short answer questions


Question 1

Explain why is the GDP per capita of low income countries is generally higher that their GNP per capita.

Question 2

Identify the component indicators that make up the Human Development Index.

Question 3

Distinguish between wealth, income and welfare.

Question 4

Critically assess the view that an increase in the national income will lead to a corresponding increase in welfare.

Question 5

Explain the advantages of using composite indices of welfare in addition to the GDP figures.