Question 1

A subsistence economy is

Accepted Answer

A)  a very low income economy.
B)  an economy in which people make what they consume.
C)  an economy in which people receive food for pay.
D)  all of the above. B

Question 2

In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone is not sufficient to guarantee the reduction of poverty and the growth of self-esteem.Is it possible that there could be growth of
per capita income without the achievement of these other objectives?

Accepted Answer

Per capita income can show growth even when that growth does not touch vast portions
of the population.The growth may be centered in one area or sector of the economy for example.Also, most developed countries have, at some time in their histories, introduced policies emphasizing equality.

Question 3

The core values of development include

Accepted Answer

A)  increasing income per person.
B)  reducing the inequality of income.
C)  the ability to meet basic needs.
D)  all of the above. C

Question 4

What are the Millennium Development Goals (MDGs) and how did they come about? What do you consider to be the most important of these and why?

Accepted Answer

The answer of What are the Millennium Development Goals (MDGs)...

Question 5

Development economics is the study of the

Accepted Answer

A)  alleviation of absolute poverty.
B)  transformation of institutions.
C)  allocation of resources in developing countries.
D)  all of the above.

Question 6

In reviewing discussions of life in developing countries, what is it about lifestyles in the low-income countries compared with lifestyles in the high-income countries that most strikes you? Why?

Accepted Answer

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Question 7

Countries tend to be classified as more or less developed based on

Accepted Answer

A)  the literacy rate.
B)  the poverty rate.
C)  the level of income per capita.
D)  the types of goods they produce.

Question 8

What do you think are the most serious obstacles to further progress in the developing world?

Accepted Answer

The answer of What do you think are the most...

Question 9

Which of the following is not an important objective of development?

Accepted Answer

A)  increases in per capita income
B)  the expansion of available choices
C)  increases in individual and national self-esteem
D)  all of the above are important objectives of development

Question 10

In what way is development economics greater in scope than traditional economics?

Accepted Answer

The answer of In what way is development economics greater...

Question 11

Development economics must have a scope wider than traditional economics because

Accepted Answer

A)  values and attitudes play little role in the pace of development.
B)  people in developing societies do less utility-maximizing.
C)  transformation of social institutions is necessary for development.
D)  all of the above.

Question 12

Why are women often referred to as playing a central role in economic development?

Accepted Answer

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Question 13

Provide a definition of development economics.Justify your choice carefully.

Accepted Answer

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Question 14

Do you think it is in the material interests of high-income countries to help low-income countries improve their economic performance? Why or why not?

Accepted Answer

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Question 15

It has been said that "underdevelopment is a state of mind." Comment.

Accepted Answer

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Question 16

A good definition of the meaning of development is the

Accepted Answer

A)  elimination of absolute poverty.
B)  improvement in the quality of life.
C)  fulfillment of the potential of individuals.
D)  all of the above.

Question 17

How is happiness related to development?

Accepted Answer

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Question 18

The Millennium Development Goals include

Accepted Answer

A)  eliminating the proportion of people living on less than $1 per day.
B)  universal primary education.
C)  increasing exports by one half.
D)  all of the above.

Question 19

What are the most important characteristics that have shaped Brazil's economic and social progress during the last three decades?

Accepted Answer

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Question 20

Which of the following demonstrates international interdependence?

Accepted Answer

A)  the oil shocks
B)  the debt crisis
C)  global warming
D)  all of the above.

Exam 1: Introducing Economic Development: a Global Perspective