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WorksheetsMODULE 7
Total questions: 10
Worksheet time: 5mins
Which of the following is not typically an element in the structural change that accompanies development?
Increase in the share of agriculture in GDP (gross domestic product)
Increase in manufacturing as a share of GDP
. Increase in urbanization
All of the above changes accompany development
Economic growth measures the
Growth of productivity
Increase in nominal income
Increase in output
None of the above
According to W.W.Rostow, which of the following does NOT belong to the "precondition for take off"
Increased agricultural productivity
Political stability
Development of social overhead capital
Growth of the durable consumer goods industry
According to Malthus, the fixed factor of production is
Labor
Capital
Land
. Entrepreneurship
When does the concept of choice become irrelevant in the statement below?
We were dealing with a very simple, one-person economy
Poverty were eliminated
. Scarcity was eliminated
Capital was eliminated
Which of the following is not an example of financial repression?
Forced sales of government debt to the banking system
Interest rate controls on loan and deposit rates
Very high rates of monetary growth
Creation of a large public sector
What do you call the certain amount of goods and services is necessary for a minimum standard of living?
Basic needs
Absolute poverty
An international standard of living
The concept of development
What is the prime factor leading to the process of migration of people from rural to urban centers?
. Structural transformation
Demographic Transition
. Process of Urbanization
Transitional Stage
What is stage is the agricultural economy with the main purpose of subsistence farming and little product is traded?
Traditional Stage
Transitional Stage
Take off
Drive to maturity
Which of the following statements is not true about import restriction?
Import restrictions attract resources to protected industry
Import restrictions involve a dead weight loss,
Import restrictions raise prices for buyers to a product,
Import restriction shift welfare from producers to consumers
