M.A. (Semester IV) (CBCS) Examination Oct/Nov-2017
Economics
ECONOMICS OF GROWTH AND DEVELOPMENT
Day Date: Monday, 20-11-2017 Max. Marks: 70
Time: 02:30 PM to 05.00 PM
Instructions: All questions are compulsory.
Right side digit indicates the marks.
Q.1 Select the correct answer. 14
of the following is known as full capacity growth rate.
Actual growth rate Warranted growth rate
Natural growth rate None of the above
Which one of the following is an assumption of Harrod-Domar model?
Change in interest rate
Closed economy
Variable capital-output ratio
Variable marginal and average propensity to save
Sustainable development means
Development of underdeveloped countries
Meeting the needs of present generation without compromising the needs
of future generation
Development of resources
Water resources
Golden rule of capital accumulation is given by
Harrod Domar
Joan Robinson Karl Marx
The concept of Invisible Hand is given by
Adam Smith David Ricardo
J. M. Keynes J. Schumpeter
The Gini coefficient is related with
Income equality Income inequality
Economic development Economic growth
are the indicators of economic development.
Growth in GNP Growth in Per Capita Income
Reduction in Poverty All the above
According to Nelson there is high correlation between
The level of per capita income and rate of population growth
The level of total income and rate of population growth low
The level of total expenditure and rate of population growth
None of the above
India's rank in HDI (2015) is
130 131
132 133
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SLR-HE-30
10) Innovation means
Introduction of new method of production
Introduction of new commodity
Introduction of new raw material
All the above
11) The Division of labour increases
Dexterity
Efficiency
Innovation in method of production
All the above
12) The theory of has been developed by R. R. Nelson.
Big push Stages of growth
Unlimited supply of labour Low level equilibrium trap
13) The classical model of economic development emphasizes
Laissez-fair policy Capital accumulation
Both a and b Neither a nor b
14) According to the theory of demographic transition, India is on stage.
First stage Second stage
Third stage Forth stage
Q.2 Write short Notes: (Any Four) 12
Embodied technological progress
Circular causation
Low level equilibrium trap
Inclusive growth
Washington Consensus
Q.3 Write short Notes: (Any Four) 16
Who are the agents of economic development according to Adam Smith?
What is the innovation?
What is mean by balanced growth?
What is the social overhead cost?
What is industrial reserve army?
Q.4 Attempt any Two questions: 14
Explain the David Ricardo's theory of economic development.
Discuss the Solow model of economic development.
Explain the critical minimum effort theory.
Q.5 Discuss the Harrod Domar model of economic development. 14
OR
Explain the Joan Robinson's economic theory of development.