1. Who was the first person to use the term ‘Third
World’ to describe poor countries?
(a) P.C. Mahalanobis                (b) Amartya Sen
(c) T.R. Malthus                         (d) Frantz Fanon

2. Economic development is hindered by
(a) Economic factors            (b) Social factors
(c) Political factors                (d) All the above

3. The sign of a country’s development is
(a) More and more industries
(b) Higher standard of livery
(c) Higher per capita income
(d) More means of transport

4. Economic development is taken to mean
(a) Economic growth plus social change
(b) Economic growth with political stability
(c) Political as well as social stability
(d) Economic and social stability

5. The term ‘creative destruction’ in associated with
(a) Paul Samuelson                   (b) Joseph stiglitz
(c) Joseph Schumpeter             (d) Keynes

6. Leibenstein in his critical minimum effort thesis
treats population as a factor that is
(a) Income generating               (b) Investment inducing
(c) Income depressing              (d) Market expanding

7. Adam Smith advocated
(I) Laissez – Faire
(II) Invesible hand
(III) Free trade policy
(IV) Competitive markets :
Codes :
(a) (I) and (II) only
(b) (II) and (III) only
(c) (I), (II) and (III) only
(d) (I), (II), (III) and (IV)

8. The unbalanced growth strategy is based on
(a) Internal and external economies
(b) Spread and backwash effects
(c) Increasing and constant returns to scale
(d) Backward and forward linkinges

9. The theory of surplus value is given by
(a) Ricardo             (b) Karl Marx
(c) Malthus            (d) Adam Smith

10. Solow built his model as an alternative to
(a) Kaldor’s model of growth
(b) Ranis – Fei model of growth
(c) Harrod – Domar model of growth
(d) Meads model of growth