Hansen argued that as compared to the nineteenth century the development at present suffered from two limitations viz: A. Shifting frontiers and growing population B. Decline in purchasing capacity and growing unemployment C. Technological changes and presence of large labour…
The Theory of Economic Maturity carried froward the ideas worked in The General Theory of Employment, Interest and Money by: A. Adam Smith B. Keynes C. RicrodoD. Marshall
Which one of the following has been wrongly listed as a defect of Schumpeter’s theory? A. He wrongly asserts that capitalism is crumbling and socialism is likely to replace it B. His theory is defective in so far as it…
According to Schumpeter the entrepreneurs contribute to development by: ____________? A. Quickly catering to the tastes of the consumersB. Bringing about changes in the tastes of consumers C. Providing the existing goods at the lowest price D. All the above…
Schumpeter held that significant advances in national production occur by disharmonious leaps and spurts. This idea was: A. His original contributionB. Borrowed by him from Marx C. Borrowed by Schumpeter from neo-classical thinkers D. None of the above
The chief defect of the neo-Classical theory of development is: __________? A. It attaches too much importance to factors like political stability and attitude of the peopleB. It completely ignores factors like political stability and attitudes of people C. It…
The new-classical writers believed that economic development benefits: A. All the major income groups B. Only the capitalists C. Only the workers D. None of the above
The neo-classical thinkers: A. Reiterated their faith in the people that wages are determined by supply and demandB. Asserted that the wages are determined by the productivity of the last worker employed C. Asserted that the wages of workers had…
Which one of the following features has been wrongly listed as one of the ingredient of Marxian theory of development? A. Class-struggle B. Theory of surplus value C. Centralisation of capitalD. None of the above
Which one of the following criticism levelled against the classical theory of development is not correct? A. It underestimated the possibility of technological progress B. It failed to adequately analyze the problem of maintaining aggregate demandC. It attached too much…