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MUMBAI UNIVERSITY IDOL
MCQ QUESTION BANK WITH ANSWER
FOR ONLINE EXAM TYBA
ECONOMICS OF GROWTH AND DEVELOPMENT
PART 2
51. According to W.W.
Rostow, the stages of economic growth are:
a. Two
b. Three
c. Four
d. Five
Answer: D
52. Most of the underdeveloped
economies suffer from ____ which do not let the rate of
growth go up from a lower
level.
a. High population
pressures
b. High infant mortality
c. Hugh monetary
mismanagement
d. High level of
technological unemployment
Answer: A
53. The concept of
economic growth is:
a. Identical with the
concept of economic development
b. Narrower than the
concept of economic development
c. Wider as compared to
that of economic development
d. Unrelated to the
concept of economic development
Answer: B
54. The rate of growth of
an economy mainly depends upon:
a. The rate of growth of
the labour force
b. The proportion of
national income saved and invested
c. The rate of
technological improvements
d. All of the above
Answer: D
55. The stationary state
as envisaged by Adam Smith, is marked by:
a. Low rate of profit
b. Subsistence level wages
c. High rents
d. All of the above
Answer: D
56. Who put forward the
theory of social dualism?
a. A.Lewis
b. G.Myrdal
c. J.H.Boeke
d. A.O.Hirshman
Answer: C
57. Who coined the phrase
‘demonstration effect’?
a. W.W.Rostow
b. James Duessenberry
c. R.Nurkse
d. J.K.Galbraith
Answer: B
58. Unemployment created
by some long-term change in demand or technological conditions
in an economy is known as:
a. Frictional unemployment
b. Cyclical un-employment
c. Structural unemployment
d. Disguised unemployment
Answer: C
59. 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?
a. Seven
b. Five
c. Four
d. Three
Answer: B
60. The ‘big-push’
strategy of development was first advocated by:
a. Paul N-Rosenstein-Rodan
b. Simon Kuznets
c. W.A, Lewis
d. A.O.Hirshman
Answer: A
61. Which growth model
inspired the use of capital-output ratio for development planning?
a. The Harrod-Domar model
b. Solow’s model
c. Kaldor’s model
d. Feldman’s model
Answer: A
62. As an aid to
development planning, much use is being made today of the input-output
analysis. Who first used
it?
a. H. Liebenstein
b. W.W.Leontief
c. W.A.Lewis
d. A.O.Hirshman
Answer: B
63. Balanced growth
implies:
a. Simultaneous
development of a variety of activities, which support one
another
b. Equal allocation of
resources to different sectors
c. Different sectors
growing at their natural rates of growth
d. Uniform rate of growth
of output over time
Answer: C
64. Development with
unlimited supplies of labour hypothesis was formulated by:
a. Gustav Ranis
b. W.A.Lewis
c. R. Nurkse
d. J.Schumpeter
Answer: B
65. Which of the following
is not correctly matched?
a. Big-push strategy: Paul
N. Rosenstein- Rodan
b. Balanced growth theory:
R. Nurkse
c. Development with
unlimited supplies of labour: A-0. Hirschman
d. Critical minimum
strategy: Prof. Harvey Leibenstein
Answer: C
66. With economic growth,
the proportion of labour-force engaged in agriculture:
a. Increases
b. Decreases
c. Remains unaffected
d. Changes in an uncertain
manner
Answer: B
67. Which one of the
following was given a central place by Schumpeter in his theory of
development?
a. Capital accumulation
b. Role of the Government
c. Need for balanced
growth
d. Role of innovations
Answer: D
68. With which of the
following kinds of dualism is H. Myint particularly associated with?
a. Technological dualism
b. Geographical dualism
c. Financial dualism
d. Social dualism
Answer: C
69. The second stage of
the theory of demographic transition is characterised by:
a. High birth-rate and
high death rate
b. High birth-rate and
falling death-rate
c. Low birth-rate and low
death-rate
d. Falling birth-rate and
falling death-rate
Answer: B
70. Which of the following
models makes the assumption of constant saving-income ratio?
a. Kaldor model
b. Leontief model
c. Harrod-Domar model
d. Joan Robinson model
Answer: C
71. Identify the model
which is concerned with the ‘golden age’ equilibrium:
a. Kaldor model
b. Joan Robinson model
c. Keynesian model
d. Domar model
Answer: B
72. India’s First Five
Year Plan was based on:
a. Mahalanobis model
b. Feldman model
c. Harrod-Domar model
d. Leontief model
Answer: C
73. 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
a. C/(V+S)
b. C/V
c. C/(C+V)
d. (C+V)/V
Answer: A
74. 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?
a. Surplus labour
b. Reserve army of labour
c. Under employment
d. Disguised unemployment
Answer: B
75. Marx attributed the
capitalist crisis to:
a. High rate of wages
b. Falling rate of profit
c. Inflationary pressures
d. Exploitation of labour
Answer: D
76. Which of the following
is not part of the Human Development Index?
a. infant mortality
b. life expectancy
c. educational attainment
d. GDP per capita
Answer: A
77. The number of deaths
of children under one year of age per 1000 live births is the:
a. child mortality rate
b. infant mortality rate
c. toddler mortality rate
d. neo-natal mortality
rate
Answer: B
78. The Gini coefficient
is a technique frequently used to show:
a. variations in life
expectancy
b. income inequality
c. differences in infant
mortality
d. the education gap
Answer: B
79. A graphical technique
that can be used to show the degree of inequality that exists between
two variables is the:
a. Lorenz curve
b. median-line bar graph
c. Kuznets curve
d.semantic differential
profile
Answer: A
80. The People’s Campaign
for Decentralised Planning was launched in 1996 in the Indian
state of:
a. Tamil Nadu
b. Bihar
c. Karnataka
d. Kerala
Answer: D
81. Which of the following
explains the term economic growth?
a. Increase in per capita
production
b. Increase in per capita
real income
c. structural change in
the economy
d. all the above are right
Answer: D
82. Economic development
is characterized by
a. Structural change in
the economy
b. Change in the
occupational structure
c. Both a and b
d. None of the above
Answer: C
83. Which of the following
explains the term economic development?
a. Improvement in the
technology involved
b. Improvement in production
c. Improvement in
distribution system
d. All the above
Answer: D
84. An underdeveloped
economy is characterized by
a. High per capita real
income
b. Large proportion of
labor force in the tertiary sector
c. State of deprivation of
large proportion of population
d. All the above
Answer: C
85. Scarcity of capital ,
technological backwardness and unemployment are generally found in
a. Developed countries
b. Underdeveloped
countries
c. Both
d. None of the above
Answer: B
86. Which of the following
denotes an underdeveloped economy?
a. High level of
inequalities
b. Low level of capital
productivity
c. A relatively closed
economy
d. All the above
Answer: D
87. Capital formation in
underdeveloped countries is a major bottleneck. The reason can be
a. Small size of market
with no incentive for investment
b. Low level of income
c. Demonstration effect
d. All the above
Answer: B
88. i. Higher level of
capital-output ratio indicates efficient use of capital.
ii. It reflects the productivity
of capital in the economy
a. I only
b. ii only
c. both
d. none
Answer: C
89. Which of the following
about strategy of balanced growth is right?
a. Simultaneous investment
in all sectors
b. All sectors are
independent.
c. Both
d. None
Answer: A
90. Which of the following
about strategy of unbalanced growth is right?
a. Deliberate imbalance in
favor of some sectors
b. Simultaneous investment
in all sectors
c. Both
d. None
Answer: A
91. The concept of PQLI
was developed by
a. Morris D Morris
b. UNO
c. UNDP
d. Oxford Poverty and
Human Development Initiative
Answer: A
92. The parameter/s of the
PQLI is/are
a. Life Expectancy Index
b. Standard of living
index
c. Infant mortality rate
d. A and C
Answer: D
93. The concept of HDI was
popularized by
a. Morris D Morris
b. Adam Smith
c. Keynes
d. Mahbub Ul Haq
Answer: D
94. The component/s of HDI
is/are
a. Life expectancy index
b. Infant mortality rate
c. Population growth rate
d. All the above
Answer: A
95. The Multidimensional
Poverty Index has been developed by
a. The UNDP
b. Oxford HDI
c. The UNO
d. Morris D Morris
Answer: B
96. Which of following is
not a component of MPI?
a. Health
b. Education
c. Occupation
d. Standard of living
Answer: C
97. Which of the following
is not an indicator to measure MPI?
a. Electricity
b. Nutrition
c. Cooking fuel
d. Profession
Answer: D
98. Economic growth in
India will happen necessarily if there is
a. Population growth
b. Capital formation
c. Technical progress in
the global economy
d. All the above
Answer: D
99. Inclusive governance
includes
a. Allowing NBFCs to do
banking
b. Increase government
spending on health
c. Strengthening mid-day
meals scheme
d. All the above
Answer: D
100. An open economy is
one where
a. Deficit financing is
absent
b. No export activities
c. No import activities
d. Economy opened to the
world
Answer: D
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