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Economics of Development Midterm Chapt 3 and 4 _ (DETAILED ANSWERS) Semester 1 2024 -
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Economics of Development Midterm Chapt 3 and 4 _ (DETAILED ANSWERS) Semester 1 2024 -
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8/2/24, 5:38 AMSocial Science Economics
Economics of Development Midterm Chapt 3 and 4
Jeremiah
Terms in this set (26)
Which of the following is not a policy (d) promoting trade unions
proposal of the neoclassical counter-
revolution school?
(a) promoting free trade
(b) privatizing state-owned enterprises
(c) welcoming multinational corporations
(d) promoting trade unions
Which of the following is an assumption of (a) surplus labor in the rural sector
the Lewis two-sector model?
(a) surplus labor in the rural sector
(b) high unemployment in the urban modern
sector
(c) rising real urban wages
(d) rising marginal product of labor in the
rural sector
The false paradigm model attributes lack of (b) inappropriate advice from rich country economists.
development to
(a) inadequate attention to price incentives.
(b) inappropriate advice from rich country
economists.
(c) low levels of savings and investment.
(d) a lack of government regulation.
Which of the following is a criticism of the (d) all of the above.
neoclassical counter-revolution school's
approach?
(a) markets are not competitive in
developing countries.
(b) externalities are common in developing
countries.
(c) inequality may worsen when interventions
are removed in developing countries.
Economics of Development Midterm Chapt 3 and 4
(d) all of the above.
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, 8/2/24, 5:38 AM
Which of the following approaches does not (b) the neoclassical counter-revolution
offer an international dependence
explanation of underdevelopment?
(a) the false paradigm model
(b) the neoclassical counter-revolution
(c) the dualistic development model
(d) the neocolonial dependence model
The neoclassical counter-revolution school (c) eliminating government regulations.
supports
(a) trade restrictions.
(b) state-owned enterprises.
(c) eliminating government regulations.
(d) limitations on foreign investors.
Implicit assumptions from which theories (a) a paradigm.
evolve are known as
(a) a paradigm.
(b) biases.
(c) stylized facts.
(d) normative economics.
On which of the following does the (a) misguided government policies
neoclassical counter-revolution school most
blame underdevelopment?
(a) misguided government policies
(b) relatively rigid cultural traditions
(c) the legacy of colonialism
(d) unfair trade practices on the part of
developed countries
According to the theory of structural (a) a shift from agriculture to industry and services
patterns of development, which of the
following tends to occur as a country
develops?
(a) a shift from agriculture to industry and
services
(b) an increase in the percentage of income
spent on food
(c) growth of the rural sector
(d) a decline in trade as a share of GNP
In the public choice (or new political (b) the self-interested behavior of public officials.
economy) approach to development the
emphasis is on
(a) growth in the rural sector.
(b) the self-interested behavior of public
officials.
(c) the dependence of LDCs on former
colonial powers.
(d) the inherent efficiency of developing
country markets.
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