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Theories of Economic Development – MCQs
23 questions. Click to practice.
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1.
According to the Vicious Circle theory, what is the main cause of persistent low income levels?
Increasing government aid leads to dependency on social welfare schemes
Low earnings result in demands for increased money supply
Reduced income levels push for reliance on inexpensive foreign goods
Low average income results in minimal savings, which in turn maintain low income
2.
From the supply-side perspective of the vicious circle of development theory, why does a country remain impoverished?
The available technology is insufficient to achieve self-reliance
Its past poverty prevented adequate saving and investment
There is an excessive level of underemployment
Resources are allocated inefficiently
3.
Which of the following is a common criticism of Rostow’s model of economic development?
Significant evidence challenges his concept of the takeoff phase.
The model does not clarify the reasons behind growth following the takeoff stage.
His proposed stages of development lack empirical testability.
All the above statements are valid criticisms.
None of the above.
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