1 - Who coined the phrase 'demonstration effect'?
1 - Who coined the phrase 'demonstration effect'?
James Duessenberry
2 - To achieve full economic growth, Malthus laid special emphasis on the proper combination of:
2 - To achieve full economic growth, Malthus laid special emphasis on the proper combination of:
Production and distribution
3 - What according to Malthus puts a stop to the growth process?
3 - What according to Malthus puts a stop to the growth process?
Deficiency in effective demand
4 - Identify the main factor which according to Malthus makes an economy move downwards in the long run to the subsistence level:
4 - Identify the main factor which according to Malthus makes an economy move downwards in the long run to the subsistence level:
Population pressure
5 - Which of the following measures, according to Malthus, would be helpful in raising and maintaining demand at a higher level?
5 - Which of the following measures, according to Malthus, would be helpful in raising and maintaining demand at a higher level?
All of the above
6 - Which of the following statements is not correct in the light of the Malthusian theory of growth?
6 - Which of the following statements is not correct in the light of the Malthusian theory of growth?
There can be no general glut or overproduction in the market
7 - Which of the following statements is not in agreement with the Malthusian view on economic growth?
7 - Which of the following statements is not in agreement with the Malthusian view on economic growth?
The process of economic growth is automatic
8 - Which sector was emphasised most by Ricardo in the context of economic growth?
8 - Which sector was emphasised most by Ricardo in the context of economic growth?
Agriculture
9 - In the Ricardian scheme of things, savings are provided by:
9 - In the Ricardian scheme of things, savings are provided by:
Capitalists
10 - Whichone of the following, according to Ricardo, would form a bottleneck to economic growth?
10 - Whichone of the following, according to Ricardo, would form a bottleneck to economic growth?
Shortage of land
11 - Which one of the following statements is not in tune with the Ricardian theory of growth?
11 - Which one of the following statements is not in tune with the Ricardian theory of growth?
Profits tend to rise
12 - Which one of the following is not an assumption of the Ricardian theory?
12 - Which one of the following is not an assumption of the Ricardian theory?
Rising real wages
13 - Which of the following policy-prescriptions for economic growth was suggested by Ricardo?
13 - Which of the following policy-prescriptions for economic growth was suggested by Ricardo?
Free trade in commodities
14 - In the Ricardian system, a crucial role in development was assigned to:
14 - In the Ricardian system, a crucial role in development was assigned to:
Profits
15 - The stationary state according to Malthus and Ricardo, is characterised by:
15 - The stationary state according to Malthus and Ricardo, is characterised by:
All of the above
16 - Which of the following is not a part of the classical theory of economic development?
16 - Which of the following is not a part of the classical theory of economic development?
Government interference
17 - Which of the following had the approval of the classical economists (particularly J.S. Mill) as an aid to development?
17 - Which of the following had the approval of the classical economists (particularly J.S. Mill) as an aid to development?
Imposition of temporary duties on imports to develop particular industries
18 - The classical theory of economic development is of relevance for the less developed countries today because it lays emphasis on:
18 - The classical theory of economic development is of relevance for the less developed countries today because it lays emphasis on:
All of the above
19 - According to the neo-classical theory, economic development is:
19 - According to the neo-classical theory, economic development is:
All of the above
20 - Unemployment created by some long-term change in demand or technological conditions in an economy is known as:
20 - Unemployment created by some long-term change in demand or technological conditions in an economy is known as:
Structural unemployment
21 - Arrange the following Rostow's stages of economic growth in their proper sequence: I, Traditional society; II. Take-off stage; III. Age of mass consumption; IV. Drive to maturity
21 - Arrange the following Rostow's stages of economic growth in their proper sequence: I, Traditional society; II. Take-off stage; III. Age of mass consumption; IV. Drive to maturity
I, II, IV, III
22 - How many stages of economic growth were defined and analysed by Rostow which all economies are supposed to pass through in the course of their development?
22 - How many stages of economic growth were defined and analysed by Rostow which all economies are supposed to pass through in the course of their development?
Five
23 - What causes development in terms of Rostow's theory?
23 - What causes development in terms of Rostow's theory?
All of the above
24 - Identify the country which was the first to move to the stage of high mass consumption:
24 - Identify the country which was the first to move to the stage of high mass consumption:
USA
25 - The take-off stage is characterised by:
25 - The take-off stage is characterised by:
All of the above
26 - Under the 'big-push' strategy of development, large investments are to be directed towards:
26 - Under the 'big-push' strategy of development, large investments are to be directed towards:
Industry
27 - The basic logic behind the 'big-push' strategy of development is related to:
27 - The basic logic behind the 'big-push' strategy of development is related to:
External economies
28 - In the context of which region was the 'big push' strategy of development formulated?
28 - In the context of which region was the 'big push' strategy of development formulated?
Eastern Europe
29 - The 'big-push' strategy of development was first advocated by:
29 - The 'big-push' strategy of development was first advocated by:
Paul N-Rosenstein-Rodan
30 - The justification of the 'big-push' strategy, which involves concentrated efforts in the form of investments on a large scale, is based on:
30 - The justification of the 'big-push' strategy, which involves concentrated efforts in the form of investments on a large scale, is based on:
All of the above
31 - The capital-output ratio in developed countries is:
31 - The capital-output ratio in developed countries is:
Fairly stable
32 - The incremental capital-output ratio (ICOR) refers to the:
32 - The incremental capital-output ratio (ICOR) refers to the:
Ratio of investment to change in output
33 - The capital-output ratio is determined by:
33 - The capital-output ratio is determined by:
All of the above
34 - Which growth model inspired the use of capital-output ratio for development planning?
34 - Which growth model inspired the use of capital-output ratio for development planning?
The Harrod-Domar model
35 - The capital-output ratio in a country during the different phases of growth:
35 - The capital-output ratio in a country during the different phases of growth:
Changes within narrow limits
36 - As an aid to development planning, much use is being made today of the input-output analysis. Who first used it?
36 - As an aid to development planning, much use is being made today of the input-output analysis. Who first used it?
W.W.Leontief
37 - Which of the following statements is incorrect?
37 - Which of the following statements is incorrect?
The thesis of development with unlimited supplies of labour was originally formulated by R. Nurkse
38 - Balanced growth implies:
38 - Balanced growth implies:
Simultaneous development of a variety of activities, which support one another
39 - Development with unlimited supplies of labour hypothesis was originally formulated by:
39 - Development with unlimited supplies of labour hypothesis was originally formulated by:
W.A.Lewis
40 - Which of the following is not correctly matched?
40 - Which of the following is not correctly matched?
Balanced growth theory: R. Nurkse
41 - If the capital-output ratio is 4:1 and the annual growth rate of population is
41 - If the capital-output ratio is 4:1 and the annual growth rate of population is
5%, what will be required rate of investment in the economy in order to achieve 3% growth per annum in per capita income?
42 - With economic growth, the proportion of labour-force engaged in agriculture:
42 - With economic growth, the proportion of labour-force engaged in agriculture:
Decreases
43 - A strategy of heavy industry is sometimes preferred for a developing economy because it can:
43 - A strategy of heavy industry is sometimes preferred for a developing economy because it can:
Provide a strong base for rapid industrialisation
44 - In which sphere are shadow prices particularly useful?
44 - In which sphere are shadow prices particularly useful?
Project evaluation and cost-benefit analyses
45 - Identify the economist who first advocated a rolling plan for developing countries?
45 - Identify the economist who first advocated a rolling plan for developing countries?
G.Myrdal
46 - Which of the following is inconsistent with the Schumpeter's theory of development?
46 - Which of the following is inconsistent with the Schumpeter's theory of development?
The course of growth is continuous
47 - According to the Schumpeter's model, the innovating entrepreneurs get the necessary finance from:
47 - According to the Schumpeter's model, the innovating entrepreneurs get the necessary finance from:
Bank credit
48 - Which one of the following was given a central place by Schumpeter in his theory of development?
48 - Which one of the following was given a central place by Schumpeter in his theory of development?
Role of innovations
49 - With which of the following kinds of dualism is H. Myint particularly associated with?
49 - With which of the following kinds of dualism is H. Myint particularly associated with?
Financial dualism
50 - Who formulated the theory of circular and cumulative causation which explains the perpetuation of underdevelopment through growing inequalities between developed and the underdeveloped countries?
50 - Who formulated the theory of circular and cumulative causation which explains the perpetuation of underdevelopment through growing inequalities between developed and the underdeveloped countries?
Gunnar Myrdal
51 - The second stage of the theory of demographic transition is characterised by:
51 - The second stage of the theory of demographic transition is characterised by:
High birth-rate and falling death-rate
52 - Which of the following concepts, which are now extensively used in growth economics, was first formulated by Keynes?
52 - Which of the following concepts, which are now extensively used in growth economics, was first formulated by Keynes?
All of the above
53 - According to Keynesian economics, saving and investment are brought into equilibrium by variations in:
53 - According to Keynesian economics, saving and investment are brought into equilibrium by variations in:
Income
54 - Two economists have been particularly associated with the formulation of development with surplus labour hypothesis. One is R. Nurkse. Who is the other?
54 - Two economists have been particularly associated with the formulation of development with surplus labour hypothesis. One is R. Nurkse. Who is the other?
James S. Duessenberry
55 - Perspective planning refers to:
55 - Perspective planning refers to:
Long-term planning
56 - J.F. Meade pointed out three principles means of growth. Which of the following is not on the list?
56 - J.F. Meade pointed out three principles means of growth. Which of the following is not on the list?
Devaluation
57 - The Harrod-Domar model is one of the well known models of growth. Which of the two authors of this model wrote earlier and in which year?
57 - The Harrod-Domar model is one of the well known models of growth. Which of the two authors of this model wrote earlier and in which year?
Harrood in 1939
58 - Which of the following models formed the basis of India's Second Five Year Plan?
58 - Which of the following models formed the basis of India's Second Five Year Plan?
Mahalanobis model
59 - Which of the following models makes the assumption of constant saving-income ratio?
59 - Which of the following models makes the assumption of constant saving-income ratio?
Harrod-Domar model
60 - Identify the model which is concerned with the 'golden age' equilibrium:
60 - Identify the model which is concerned with the 'golden age' equilibrium:
Joan Robinson model
61 - Some models focus their attention on the maximum rate of growth at which the economy can grow. Which of the following models is of this type?
61 - Some models focus their attention on the maximum rate of growth at which the economy can grow. Which of the following models is of this type?
Von-Neumann model
62 - Identify the model, which analyses the contribution of technological progress to the overall growth rate:
62 - Identify the model, which analyses the contribution of technological progress to the overall growth rate:
Solow model
63 - Which of the following; is a two-sector model?
63 - Which of the following; is a two-sector model?
Solow model
64 - There is a model of inter-industrial relations where technological relations between industries are assumed to remain constant. Which one is it?
64 - There is a model of inter-industrial relations where technological relations between industries are assumed to remain constant. Which one is it?
Leontief model
65 - India's First Five Year Plan was based on:
65 - India's First Five Year Plan was based on:
Harrod-Domar model
66 - Which of the following models uses three distinct concepts of stages of growth?
66 - Which of the following models uses three distinct concepts of stages of growth?
Harrod model
67 - Marx refers to the concept of organic composition of capital. Which of the following ratios stands for this capital? Constant capital = C; Variable capital = V; Surplus value = S
67 - Marx refers to the concept of organic composition of capital. Which of the following ratios stands for this capital? Constant capital = C; Variable capital = V; Surplus value = S
C/V
68 - Marx had given a concept of unemployment in the context of the capitalist system which keeps wages down or prevents wages from rising even as demand for labour increases. What is that concept called?
68 - Marx had given a concept of unemployment in the context of the capitalist system which keeps wages down or prevents wages from rising even as demand for labour increases. What is that concept called?
Reserve army of labour
69 - Marx attributed the capitalist crisis to:
69 - Marx attributed the capitalist crisis to:
Falling rate of profit
70 - According to R. Nurkse, the inducement to invest in the context of an underdeveloped economy is limited mainly by the:
70 - According to R. Nurkse, the inducement to invest in the context of an underdeveloped economy is limited mainly by the:
Size of the market
71 - Which is the smallest continent?
71 - Which is the smallest continent?
Australia
72 - Asia is the largest continent in the world. Roughly what percentage of the earth's area is covered by it?
72 - Asia is the largest continent in the world. Roughly what percentage of the earth's area is covered by it?
5
73 - Which country in Europe has the largest area?
73 - Which country in Europe has the largest area?
France
74 - Identify the world's largest island:
74 - Identify the world's largest island:
Greenland
75 - Which is the highest waterfall in the world?
75 - Which is the highest waterfall in the world?
Angel
76 - Which is the world's largest river?
76 - Which is the world's largest river?
Nile
77 - Which is the biggest ocean in the world?
77 - Which is the biggest ocean in the world?
Pacific Ocean
78 - Which two continents are complementary to each other?
78 - Which two continents are complementary to each other?
Africa and South America
79 - Which of the following is a block mountain?
79 - Which of the following is a block mountain?
Vosges
80 - Which is the world's smallest independent country?
80 - Which is the world's smallest independent country?
Vatican city
81 - Which place is known as the Land of Thousand Lakes?
81 - Which place is known as the Land of Thousand Lakes?
Finland
82 - Which country is the leading producer of wood pulp in the world?
82 - Which country is the leading producer of wood pulp in the world?
Canada
83 - Which of the following resources is inexhaustible?
83 - Which of the following resources is inexhaustible?
Solar energy
84 - Identify the country, which is the largest among coal producing countries in the world:
84 - Identify the country, which is the largest among coal producing countries in the world:
USA
85 - Brazil leads in the production of:
85 - Brazil leads in the production of:
Coffee
86 - Identify the country, which is known as the sugar bowl of the world:
86 - Identify the country, which is known as the sugar bowl of the world:
Cuba
87 - Which country has the highest dam?
87 - Which country has the highest dam?
USSR
88 - Two countries produce about 40% of the world's wine. France is one of them. Which is the other?
88 - Two countries produce about 40% of the world's wine. France is one of them. Which is the other?
Italy
89 - Which is the largest producer and exporter of palm oil in the world?
89 - Which is the largest producer and exporter of palm oil in the world?
Malaysia
90 - What is New Zealand's extent of dependence on waterpower as a source of electricity?
90 - What is New Zealand's extent of dependence on waterpower as a source of electricity?
0.75
91 - Two countries lead the world in bauxite production. Guinea is one. Which is the other?
91 - Two countries lead the world in bauxite production. Guinea is one. Which is the other?
Australia
92 - Which country is the leading producer of silver in the world?
92 - Which country is the leading producer of silver in the world?
USA
93 - Which of the following minerals does not contain any metal?
93 - Which of the following minerals does not contain any metal?
Mica ore
94 - Identify the country, which is the leading iron ore producer in the world?
94 - Identify the country, which is the leading iron ore producer in the world?
USSR
95 - Which of the following prevents deserts from spreading further?
95 - Which of the following prevents deserts from spreading further?
Afforestation
96 - Where are Savana grasslands found?
96 - Where are Savana grasslands found?
Africa
97 - Identify the country, which leads in world fish production:
97 - Identify the country, which leads in world fish production:
Japan
98 - Which country is the largest producer of nuclear power in the world?
98 - Which country is the largest producer of nuclear power in the world?
USA
99 - Which country has the largest share in cotton production?
99 - Which country has the largest share in cotton production?
China
100 - Which one of the following cities is known as the 'city of skyscrapers'?
100 - Which one of the following cities is known as the 'city of skyscrapers'?
New York
101 - Which of the following fertilisers is used after sowing seeds?
101 - Which of the following fertilisers is used after sowing seeds?
Nitrate
102 - Which is the world's largest producer and consumer of synthetic rubber?
102 - Which is the world's largest producer and consumer of synthetic rubber?
USA
103 - Which is the leading country in pipeline transportation of crude petroleum?
103 - Which is the leading country in pipeline transportation of crude petroleum?
USA
104 - The Richter scale is used for measuring:
104 - The Richter scale is used for measuring:
Earthquake's magnitude
105 - Identify the first metal used by man:
105 - Identify the first metal used by man:
Copper
106 - The Duncan Passage is between:
106 - The Duncan Passage is between:
Andaman Islands and Nicobar Islands
107 - Which is the world's largest city?
107 - Which is the world's largest city?
Shanghai
108 - What was the earlier name of Zimbabwe?
108 - What was the earlier name of Zimbabwe?
Rhodesia
109 - The economy of Brazil is mostly dependent on
109 - The economy of Brazil is mostly dependent on
Coffee
110 - Where is the headquarters of the European Economic Community?
110 - Where is the headquarters of the European Economic Community?
Brussels
111 - The first railway line in India was laid between:
111 - The first railway line in India was laid between:
Bombay and Thane
112 - The National Rural Employment Programme focuses particularly on:
112 - The National Rural Employment Programme focuses particularly on:
Reduction of unemployment
113 - Which of the following is the currency of Nepal?
113 - Which of the following is the currency of Nepal?
Peso
114 - The law of demand states that other things being equal there is:
114 - The law of demand states that other things being equal there is:
An inverse relationship between the rate of change in the quantity demanded and the price of the commodity
115 - Elasticity of Demand explains the relationship between
115 - Elasticity of Demand explains the relationship between
Price of a commodity and quantity demanded.
116 - Devaluation means
116 - Devaluation means
Decrease in the value of money in terms of foreign currency
117 - What is the complete name of the World Bank?
117 - What is the complete name of the World Bank?
International Bank for Reconstruction and Development
118 - With which activity is the Wall street in New York, U.S.A. associated?
118 - With which activity is the Wall street in New York, U.S.A. associated?
Banking and Finance
119 - Changes in the standard of living of the people in a country are indicated best by changes in the
119 - Changes in the standard of living of the people in a country are indicated best by changes in the
Per capita income
120 - When prices are rising, one of the ways of bringing about reduction in prices would be to:
120 - When prices are rising, one of the ways of bringing about reduction in prices would be to:
Increase the availability of goods
121 - The currency of Bangladesh is the
121 - The currency of Bangladesh is the
Takka
122 - The largest automobile manufacturing centre in the world is at:
122 - The largest automobile manufacturing centre in the world is at:
Detroit
123 - The theory of 'surplus value' is associated with
123 - The theory of 'surplus value' is associated with
Guild socialism
124 - Which of the following world be a 'fixed cost' to a manufacturing firm?
124 - Which of the following world be a 'fixed cost' to a manufacturing firm?
Machinery and plant
125 - Which of the following is a non-economic activity?
125 - Which of the following is a non-economic activity?
Mother tending her sick child
126 - The Law of Diminishing Returns applies to
126 - The Law of Diminishing Returns applies to
Production
127 - The cause of high inflation is
127 - The cause of high inflation is
High prices
128 - Banks charge higher rate of interest on the score of
128 - Banks charge higher rate of interest on the score of
Risk involved
129 - Economics is
129 - Economics is
The science of planning and arranging the production, distribution and consumption of goods and services for the material welfare of mankind
130 - Supply usually lags behind in the case of
130 - Supply usually lags behind in the case of
Necessities
131 - The entrepreneur
131 - The entrepreneur
Organizes and takes all responsibility for the business bearing the risks it entails
132 - The worker's real wage depends on
132 - The worker's real wage depends on
The purchasing power of his earningsE.The net amount he gets after deductions
133 - In Poland the demand of 'Solidrity' is for
133 - In Poland the demand of 'Solidrity' is for
Holding of price level for common people
134 - Who among the following is a famous economist?
134 - Who among the following is a famous economist?
Gunnar Myrdal
135 - What is the main function of money?
135 - What is the main function of money?
To serve as a medium of exchange
136 - The price of a commodity is fixed
136 - The price of a commodity is fixed
By demand and supply of a commodity
137 - The sum of money paid on shares to a shareholder by a public limited company out of its profits is called
137 - The sum of money paid on shares to a shareholder by a public limited company out of its profits is called
Bonus
138 - What is the currency of Bangladesh?
138 - What is the currency of Bangladesh?
Takka
139 - What is the currency of Myanmar?
139 - What is the currency of Myanmar?
Kyat
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