The Meaning and Measurement of Economic Development
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- The Meaning and Measurement of Economic Developmenteconomics-mcqs › the-meaning-and-measurement-of-economic-development
- Published
- 27 May 2019
- Last updated
- 28 May 2026
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Identify the country that is not classified as a Newly Industrialized Country (NIC):
Multiple choice question for The Meaning and Measurement of Economic Development. Select an option, then review the explanation below.
Explanation
Among the options, Japan is not considered a Newly Industrialized Country (NIC) because it is a fully developed economy. In contrast, South Korea, Taiwan, and Singapore are recognized as NICs due to their rapid industrial growth and economic development.
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Practice related questions from the same subject.
- 1.Which of the following best represents the fundamental basic needs?
- 2.In the Human Development Index, longevity serves as an indicator of which aspect?
- 3.Which three indicators are combined to form the Physical Quality of Life Index (PQLI)?
- 4.According to researchers Summers and Heston from the University of Pennsylvania, how is the GDP price level calculated using the purchasing power parity (PPP) exchange rate and the actual exchange rate?
- 5.Which type of weights does the Paasche price index utilize?