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.Management Sciences
Category: Theories of Economic Development
For Rosentein Rodan a major indivisibility is in ?
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A. Supply
B. infrastructure
C. agriculture
D. services
The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone ?
A. benefits if each acts in his/her own interest
B. will increase their profits in a free market
C. should act to maximize economic growth
D. should act to promote the public interest
The Lawis model explains how growth gets started in a less developed economy ?
A. with an average product of labor in agriculture that is negative
B. with a downward-sloping supply curve of labor
C. with a marginal productivity of labor zero or negligible in industry
D. with a traditional agricultural sector and an industrial capitalist sector
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