Theories of Economic Development

What term is used to describe the economic disparity between the global North and South?

• The Brandt Line

• The Equatorial Divide

• The Hemispheric Split

• The Developmental Divide

According to the last decade's data, how did the GDP of MDCs change compared to LDCs?

• MDCs GDP tripled and LDCs GDP doubled

• MDCs GDP doubled and LDCs GDP tripled

• Both MDCs and LDCs GDP doubled

• Both MDCs and LDCs GDP tripled

Which of the following terms are used to describe development levels?

• LDC/MDC

• North and South

• Rich and Poor

• All of the above

How did the population increase in MDCs compare to LDCs in the last decade?

• MDCs population increase fell by 85% and LDCs by less than 5%

• MDCs population increase fell by less than 5% and LDCs by 85%

• Both MDCs and LDCs population increase fell by 85%

• Both MDCs and LDCs population increase fell by less than 5%

Which regions are mainly associated with MDCs and LDCs, respectively?

• MDCs - Northern Hemisphere, LDCs - Southern Hemisphere

• MDCs - Southern Hemisphere, LDCs - Northern Hemisphere

• MDCs - Eastern Hemisphere, LDCs - Western Hemisphere

• MDCs - Western Hemisphere, LDCs - Eastern Hemisphere

Is the regional split between MDCs and LDCs accurate for all countries?

• Yes, it is accurate for all countries

• No, Australia and New Zealand are exceptions

• No, many LDCs are in the Northern Hemisphere

• Both B and C are correct

According to Liberal Development Theories, what is development considered to be?

• A trap for less developed countries

• A result of global economic structures

• Something you can achieve

• A consequence of low investment

What do Structural Development Theories suggest about less developed countries (LDCs)?

• They can easily achieve development with the right policies

• They are trapped by global economic structures stacked against them

• They are not affected by global economic structures

• They have an advantage in the global economy

Who developed the 5-Stage Modernization Model in the 1950s?

• Adam Smith

• Karl Marx

• Walt Rostow

• John Maynard Keynes

According to the Rostow Modernization Model, More Developed Countries (MDCs) are typically in which stages?

• Stages 1-2

• Stages 1-3

• Stages 4-5

• Stages 2-4