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.Management Sciences
Category: Theories of Economic Development
OECD stands for ?
A. Organization for Economic Cooperation and Development and Development
B. Oil Exporting Countries Development
C. Organization for Environmental cooperative Department
D. Open Economies Caucus on Development
The synchronized application of capital to a wide range of different industries is called __________ by its advocates?
A. balanced growth
B. capitalization
C. elasticity of capital
D. indivisibilities
One criticism of Rostow’s theory of economic growth is that ?
A. much available data contradicts his thesis about the takeoff stage
B. there is no explanation of why growth occurs after takeoff
C. his hypothesis of the stages of growth is difficult to test empirically
D. All of the above are correct
Criticisms of Rostow’s stages of development include ?
A. the difficulty of testing the stages scientifically
B. conditions for takeoff are contradicted by historical evidence
C. characteristics of one stage are not unique to that stage
D. All of the above are correct
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
A. I and II only
B. II and III only
C. I, II and III only
D. IV only
Rostow’s economics stages are ?
A. The preconditions for takeoff, the takeoff, the drive to maturity and the age of creative destruction
B. The traditional society the preconditions for takeoff, the takeoff, the drive to maturity and the age of high mass consumption
C. the preconditions for consumption the replication the drive to maturity and the age of high mass consumption
D. the learning curve the age of high mass consumption post takeoff, and the drive to maturity
Adam Smith advocated ?
I- laissez faire
II- the invisible hand
III- free trade policy
IV- competitive markets
A. I and II only
B. II and III only
C. I , II and III only
D. I , II , III and IV
Which of the following was not a classical economist ?
A. Adam Smith
B. Thomas R. Malthus
C. John Stuart Mill
D. John Maynard Keynes
What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America ?
A. monopolistic business from abroad
B. reactionary ruling coalitions
C. weak domestic middle class
D. All of the above
The Harrod Domar growth model suggests that growth is ?
A. directly related to savings and inversely related to the capital/output ratio
B. directly related to the capital/output ratio and inversely related to savings
C. indirectly related to savings and the capital/output ratio
D. directly related to savings and the capital/output ratio
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