O-LevelEconomicsEconomic development2281/12 · Oct/Nov 2021 · Q181 Mark

What is the consequence of economic growth for individuals and for the economy?

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Aincrease in absolute poverty, increase in inflation

Bincrease in average incomes, increase in government tax revenue

Cincrease in the variety of goods and services, reduction in exports

Dincrease in unemployment, reduction in the standard of living

✓ Correct answer

B: increase in average incomes, increase in government tax revenue

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Topic: Economic development, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2021 Paper 1 Variant 2, question 18.

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