MCQs of Economics – Theories of Economic Development

One criticism of Rostow’s theory of economic growth is that

Criticisms of Rostow’s stages of development include

According to the supply side of the vicious circle theory of development a country is poor because

Baran’s Neo-Marxist thesis has been criticized for ignoring the probability that power is frequently

The Vicious circle theory states that:

The Harrod Domar growth model suggests that growth is:

Surplus labor theories assume that:

A theory:
I- is a systematic explanation of relationships between economic variables
II- explains causal relationships among variables
III- provides a basis for policy
IV- provides an explanation of all factors influencing economic growth.

During the 1980s and 1990s a period of economic conservative governments in much of West and Japan, a leading approach among development economists was

Which of the following was not a classical economist?

Adam Smith advocated
I- laissez faire
II- the invisible hand
III- free trade policy
IV- competitive markets

Karl Marx’s historical materialism views were shaped by all of the following EXCEPT:

Feudalism was undercut by:
I- the migration of serfs to the town
II- factory competition with handicraft and manorial production
III- expanded transport trade, discovery and new international markets
IV- the rise of the business corporation

Rostow’s economics stages are:

The Vicious circle theory indicates that:

The synchronized application of capital to a wide range of different industries is called _____ by its advocates.

For Rosentein Rodan a major indivisibility is in:

A major dependency theorist Andre Gunder Frank Suggests that the following economic activities have contributed to underdevelopment:
I- Workers migrating from villages to foreign-dominated urban complexes
II- Forming an unskilled labor force to work in factories and mines and on plantations
III- Replacing indigenous enterprises with technologically more advanced global subsidiary companies
IV- Closing the economy to trade with and investment from, developed countries

OECD stands for:

What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America?

The Lawis model explains how growth gets started in a less developed economy

The essential difference between capitalism and socialism is that:

The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone