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Question 1
Question 2
Statement 1: each individual's self-interest to do better, strong competition from others
Statement 2: Laissez faire is the belief that economies and businesses function best when there is no interference by the government.
Question 3
Question 4
1) It is calculated by the world bank.
2) Expected years of schooling is one of the indicators of HDI.
3) Norway is the leading country in HDI according to 2018 data.
Which of the statements given above is/are correct?
Question 5
I. It is the ratio between GDP at Current Prices and GDP at Constant Price.
II. GDP deflator is acclaimed as a better measure of price behavior because it covers all goods and services produced in the country.
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