1.Which factors contributed to the decline of feudalism?
2.Which of the following concepts were supported by Adam Smith?
3.Which of the following best describes the characteristics of a theory?
4.According to the Harrod-Domar growth model, economic growth depends on which of the following relationships?
5.Baran's Neo-Marxist theory has been challenged for overlooking the likelihood that power often is what?
6.What are some common critiques of Rostow’s model of development stages?
7.What is the overall outcome of Adam Smith's concept of the invisible hand in a competitive market?
8.According to the Lewis model, how does economic growth begin in a developing country?
9.According to prominent dependency theorist Andre Gunder Frank, which of the following economic processes have played a role in causing underdevelopment?
10.What term do proponents use to describe the coordinated investment of capital across multiple industries simultaneously?
11.Which of the following correctly lists Rostow's stages of economic growth?
12.Which of the following did NOT influence Karl Marx's theory of historical materialism?
13.Identify the individual who is not considered a classical economist from the list below.
14.Which economic theory was predominantly favored by development economists during the 1980s and 1990s, a time characterized by conservative economic policies in much of the West and Japan?
15.According to surplus labor theories, what is assumed about labor in less developed countries (LDCs)?
16.According to the Vicious Circle theory, what is the main cause of persistent low income levels?
17.From the supply-side perspective of the vicious circle of development theory, why does a country remain impoverished?
18.Which of the following is a common criticism of Rostow’s model of economic development?
19.If firms form a cartel and coordinate their production, what is the optimal total output for the cartel, the corresponding market price, and the resulting total profit?
20.Compared to wealthy developed countries, do less developed nations generally apply __________ tariffs on imported goods?