Economics Readings Site By Colin Ong

This blog has been created to provide an area for economics students to read about how economics impacts daily life. It is especially useful for students to understand the application of macroeconomics as communicated through the media and governmental websites.

This online resource has been set up for educational purposes.All rights are reserved by the various websites.

For further clarification, please email colin@mrmc.com.sg

MCQ 20

clipped from www.tutor2u.net

The chart below shows the annual growth of output in the UK manufacturing and service industries

output1.jpg

From the information we can conclude that

  1. Manufacturing industry has experienced a recession in each year since 1994
  2. Manufacturing industry suffered a recession in 2001-2002
  3. The service sector has grown at a constant rate from 1994 - 2002
  4. Manufacturing industry exports more of its output than the service industries