Economics Development

What is the third stage in Rostow's stages of growth?

• The drive to maturity

• The preconditions for take off

• The age of high mass consumption

• Take off

Which of the following is not a rostow's stage of growth disadvantage?

• Assumes that all countries follow the same route of development

• Assumes that each country is not economically and politically free

• Doesn't look at variation within a country

• Has a strong bias towards a western model of modernization

Which of the following is the final formula in Harrod-Domar growth asumption?

• S=sY

• sY=cΔY

• l= ΔK

Harrod and Domar both presented the Harrod-Domar Growth model in 1946.

• True

• False

Which of the following is not part of International-Dependence Revolution?

• False Paradigm Model

• Dualistic-Development Thesis

• Lewis Development Theory

• Neocolonial Dependence Model

False Paradigm model is an indirect outgrowth of Marxist thinking.

• False

• True

Only some approaches have their strengths and weaknesses.

• False

• True

Prof. Willhem Arthour Lewis is the proponent of the The Lewis Theory of Economic Development.

• False

• True

What year is the Lewis Theory of Economic Development published?

• 1951

• 1952

• 1953

• 1954

What are the two sectors as per The Lewis Theory of Economic Development

• Farming Sector and Subsistence Sector

• Subsistence Sector and Industrialized Sector

• Subsistence Sector and Capitalist Sector

• Fishing Sector and Capitalist Sector