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Economic Development Quiz

Authored by Quỳnh Nguyễn

Professional Development

University

49 Questions

Used 2+ times

Economic Development Quiz
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to Todaro and Smith (2020), which combination best captures the multidimensional nature of economic development?

Industrialization, foreign investment, and privatization

Changes in social structures, acceleration of economic growth, and reduction of absolute poverty

Liberalization, deregulation, and market expansion

GDP growth, currency stabilization, and foreign exchange accumulation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Schaffner (2013) emphasizes the importance of structural transformation in economic development. Which of the following best illustrates structural transformation?

A country increases its exports of raw materials

Transition from agriculture-based employment to manufacturing and services

Expansion of military spending in response to regional conflicts

Government maintaining fixed exchange rates for a decade

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which critique is most applicable when using per capita income as a sole indicator of economic development?

It overstates the importance of environmental sustainability

It neglects distributional aspects and non-economic dimensions like health and education

It underestimates foreign exchange reserves

It fails to measure the size of a country's informal economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 17 Sustainable Development Goals (SDGs) emphasize a global partnership. Which of the following targets directly relates to both economic and social development dimensions?

Targeting a 5% GDP growth rate

Achieving full and productive employment and decent work for all

Reducing trade tariffs globally

Expanding foreign direct investment in extractive industries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best explains Todaro & Smith's distinction between economic growth and development in terms of policy focus?

Economic growth policies always lead to improved well-being

Economic development requires qualitative improvements beyond quantitative economic metrics

Economic growth is a necessary and sufficient condition for development

Economic growth focuses exclusively on currency stabilization and inflation control

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to Schaffner (2013), which factor best explains the persistence of high poverty rates despite economic growth in developing countries?

Global financial crises

Inadequate attention to social institutions and distributional mechanisms

Overemphasis on agricultural subsidies

Persistent current account surpluses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following concepts highlights the importance of institutions in shaping development outcomes, as discussed by Perkins et al. (2013)?

The Ricardian model of comparative advantage

Institutional quality's role in ensuring fair market access and contract enforcement

Purchasing power parity (PPP) adjustments in GDP calculations

Absolute advantage in international trade

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