Reference no: EM133241015

1. Which of the following would NOT be included in calculation of the GDP? 

a) Agricultural output a farmer in Kenya sells in the market 

b) Other non-food items the farmer buys from the market 

c) Agricultural output a farmer keeps for their own consumption

2. The human development index summarizes social performance in a single composite index, combining:

a) access to markets, infrastructure, and poverty 

b) standard of living, health outcomes, and education achievement 

c) poverty, inequality, and health outcomes 

d)  standard of living, inequality, and research and development

3. The human development index summarizes social performance in a single composite index, combining: 

a) access to markets, infrastructure, and poverty 

b) standard of living, health outcomes, and education achievement 

c) poverty, inequality, and health outcomes 

d) standard of living, inequality, and research and development

4. Purchasing power parity is a measure that tells us: 

a) A measure of well-being indicating how much individuals can buy 

b) Different countries' currencies through a "basket of goods" approach 

c) A measure of income inequality 

d) GDP divided by the exchange rate