Which of the following was not a classical economist ?
A. Adam Smith
B. Thomas R. Malthus
C. John Stuart Mill
D. John Maynard Keynes
Economics Mcqs
During the 1980s and 1990s a period of economic conservative governments in much of West and Japan, a leading approach among development economists was ?
During the 1980s and 1990s a period of economic conservative governments in much of West and Japan, a leading approach among development economists was ?
A. neoclassicism
B. Marxism
C. Rostow’s model
D. classical appraoch
Surplus labor theories assume that ?
Surplus labor theories assume that ?
A. LDCs are overpopulated
B. labor contributes nothing to output in LDCs
C. the marginal products of labor is closed to zero in LDCs
D. urban unemployment is high in LDCs
The Vicious circle theory states that ?
The Vicious circle theory states that ?
A. growing government assistance create addiction to welfare programs
B. low income levels create pressure for money creation
C. low income levels create pressure for cheap imports
D. low per capita incomes creates low savings that keep incomes low
According to the supply side of the vicious circle theory of development a country is poor because ?
According to the supply side of the vicious circle theory of development a country is poor because ?
A. technology levels do not allow for self sufficiency
B. it was previously too poor to save and invest
C. underemployment is too widespread
D. resource allocation is poor
One criticism of Rostow’s theory of economic growth is that ?
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
Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?
Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?
A. 2 million barrels per day, $100, $60 million
B. 4 million barrels per day, $80, $160 million
C. 6 million barrels per day, $60, $60 million
D. 8 million barrels per day, $40, $20 million
Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?
Poor develog countries typically impose __________ tariffs than rich advanced nations on imports?
A. lower
B. higher
C. about the same height
D. None of the above
Membership in the World Trade Organization for china ?
Membership in the World Trade Organization for china ?
A. has been a matter of low priority for the Chinese government
B. was achieved in the early 1950s
C. has been opposed by a number of labor and human rights organizations in other countries
D. has had negligible effect on trade between china and the United States
The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
A. flying geese
B. import substitution
C. export orientation
D. commodity expansion