Differences in Income and Economic Growth (HSC SSCE Economics): Quizzes
📚Quizzes
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Practise the questions
10 questions from this quiz
What does Gross National Income (GNI) include?
What does Gross National Income (GNI) include?
Domestic production + overseas income
Why do economists use Real GNI rather than nominal GNI?
Why do economists use Real GNI rather than nominal GNI?
To adjust for inflation over time
How does GNI differ from GDP?
How does GNI differ from GDP?
GNI includes residents' foreign income
Why do exchange rate conversions underestimate living standards in developing countries?
Why do exchange rate conversions underestimate living standards in developing countries?
Prices are substantially lower there
What does Purchasing Power Parity (PPP) adjustment achieve?
What does Purchasing Power Parity (PPP) adjustment achieve?
Reflects actual purchasing power
What share of global income do high-income countries capture despite being 15% of population?
What share of global income do high-income countries capture despite being 15% of population?
About two-thirds
What is Sub-Saharan Africa's GNI per capita at PPP?
What is Sub-Saharan Africa's GNI per capita at PPP?
3,927 USD
How did extreme poverty rates change from 1981 to 2019?
How did extreme poverty rates change from 1981 to 2019?
Fell from 43.6% to 9%
What percentage of global wealth does the top 1% own?
What percentage of global wealth does the top 1% own?
46%
What share of global wealth does Sub-Saharan Africa possess?
What share of global wealth does Sub-Saharan Africa possess?
Just 1%