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2.1 Measures of economic performance

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Question 14

Real GDP in selected East Asian economies (Base Year: 2015 = 100)

YearSouth KoreaTaiwanSingapore
2015100.0100.0100.0
2016102.8101.5103.2
2017106.1104.2107.5
2018109.2106.0111.4
2019111.6109.1112.9
2020110.6112.5107.4
2021115.1119.8116.6

Which one of the following can be inferred from the table?

In 2021, Taiwan's total value of real GDP was greater than Singapore's.

Between 2015 and 2021, the average annual rate of inflation was lowest in South Korea.

Between 2015 and 2021, Taiwan's cumulative real GDP growth rate was higher than South Korea's.

Every country in the table experienced a contraction in real GDP in 2020 compared to 2019.

2.1 Measures of economic performance Questions

  1. A Level
  2. /Economics
  3. /2.1 Measures of economic performance