M.A.(Economics) (Semester IV) (CBCS) Examination, 2017
ECONOMICS OF GROWTH AND DEVELOPMENT
Ii
Day Date: Friday, 21-04-2017 Max. Marks: 70
Time: 02.30 PM to 05.00 PM
N.B. All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Choose the correct option: 14
According to Adam Smith is/ are act as the economic agent.
Farmers Industrialist Landlord All the above
India's rank in Human Development Index (2015) is
130 131 132 133
In Marxian theory of development, the ratio of is the rate of
surplus value.
Surplus value to variable capital
Variable capital to surplus value
Profit to surplus value
All of the above
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
General Theory of Employment, Interest and Money is written by

J. M. Keynes Dr. Marshall
David Ricardo Schumpeter
Hirschaman and other economists him pleaded for
Agricultural growth Balanced growth
Industrial growth Unbalanced growth
Match the pair
Adam Smith 1. Das Capital
David Ricardo 2. Principles of political Economy
Karl Marx 3. Wealth of Nation
Dr. Marshall 4. The Principles of Political Economy
a-4 b-3 c-2 d-1 a-1 b-2 c-3 d-4
a-4 b-2 c-3 d-1 a-3 b-4 c-1 d-2
are the indicators of economic development.
Page 2 of 3
Growth in GNP Growth in per Capita Income
Reduction in Poverty All the above
Prof. Harvey Leibenstein has propounded "Critical minimum effort
theory" in his well-known book
Economic growth and economic backwardness
Economic backwardness and economic growth
The accumulation of Capital
Theory of economic growth
10) Unbalanced growth strategy was supported by
Prebish Singer Arthur Lewis
Ragnor Nurkse Leibentein
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) Demographic transition refers to
Shift from high birth and low death rates
Shift from stable population at high birth and death rates to low
birth and death rates.
Change in the male-female ratio of population
Migration of population from rural to urban areas.
14) Fiscal policy dealt with
Taxation Public Expenditure
Investment All the above
Q.2 Write short notes (any four): 12
Division of labor
Industrial Reserve Army
Gini Coefficient
Washington consensus
Inclusive growth
Q.3 Write short notes (any four): 16
What is the golden rule of accumulation?
What is critical minimum effort?
Explain notion of balanced growth.
What spread effect?
What is the surplice value of capital?
Q.4 Answer in detail (any 14
Explain the critical minimum effort theory.
Elaborate the Human Development Index.
Explain the role of fiscal policy in stabilizing the economy.
Q.5 Explain the Karl Marx theory of economic development. 14
OR
Explain the Kuznet curve.