Growth and Development-Online Practice Exam 3
Notes
Growth and Development-Online Practice Exam 3
Notes

Growth and Development-Online Practice Exam 3

NET / SET Online Practice Exams

Test

Multi-choice 3

Question

1. Development is impossible without-

Answers

Incentive to profit 

Domestic savings

Foreign aid

Inflation

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Question

2. The famous article “Economic Development with Unlimited Supplies of Labour” published in the Manchester School in 1954 is due to-

Answers

WA. Lewis

W.W. Rostow

J.H. Boeke

R. Nurkse

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Question

3. Goods and Services Tax, as passed by the Parliament contains an anti-profiteering clause. Prior to this which country was the first to incorporate this clause into its GST laws

Answers

 Increase in the level of education

Improvement in the medical facilities

Increase in the level of education

Increase in the per capita income

Increase in the people’s concern for their life.

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Question

4.  According to Lewis the subsistence sector is that part of the economy which-

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 Employs labour for wages in mines, factories, and plantations for earning profits

None of these.

Makes use of reproducible capital 

Does not make use of reproducible capital

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Question

5. Surplus labour theory assumes that-

Answers

Labour contributes nothing to output in less developed countries

The marginal product of labour is close to zero in less developed countries

There is too much unemployment in less developed countries

Less developed countries are overpopulated

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Question

6. Which one of the following statements is incorrect about average age in various countries by 2020?

Answers

The average age in Europe is expected to be 46 years

The average age in Japan is expected to be 47

The average age in China is expected to be 42 years 

The average age in USA is expected to be 40 years

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Question

7. India will be world’s youngest country by the year …….. with an average age 29 years.

Answers

2023

2020

2030

2028

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Question

8. Who among the following is not associated with the balanced growth theory ?

Answers

Nurkse

Rodan

Lewis

P. Streeten

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Question

9. Assertion (A): To Marx, it is surplus labour that lead to capital accumulation.

Reason (R): The difference between actual labour and subsistence labour that a labourer puts in for which he receives nothing is surplus labour.

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Both (A) and (R) are incorrect

(A) is correct and (R) is incorrect

(A) is correct, but (R) is not the correct reason for (A)

Both (A) and (R) are correct

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Question

10. A capitalist economy adheres to the technique of planning by

Answers

Inducement

Direction

Central authority 

None of these

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prepared by www.myeconomics.info

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