finals Q2 Flashcards
Three objectives of Economic Development include the following except for.
A. to increase the availability of basic life -sustaining needs
B To expand the range of social choices.
C. To raise the levels of iving standard
D. To expand the range of servitude
D
He stressed that the actual effects of reguiation, and not just theorize about it should be done towards each of regulations.
A. Friedrich Hayek
B. Joseph Schumpeter
C. George J. Stigler
D. Gary S. Becke
C
refers to the ability to meet the basic human needs
sustenance
is the spending of money on and the acquiring of luxury goods and services to publicly display the economic poweer of the income or of the accumulated wealth of the buyer.
A. Luxury consumption
B. Conspicuous consumption
C. Wants consumption
both A n B
It refers to the having the opportunity to choose
A.Sustenance
B. Self-esteem
€. Freedom form Servitude
D. All of the above
C
Development can be seen as a process of expanding the real freedoms that
people enjoy.
A. Professor Dudley Seers
B. Amartya Sen
C. Michael Todaro
D. Milton Friedman
B
Another important objective of human development which refers to being
treated with self- worth and respect.
A. Sustenance
B. Self-esteem
C. Freedom form Servitude
B
He stressed that non-productivity spending can be more effectively
demonstrated through iavish spending
A. Thorstein Veblen
B. John Kenneth Galbraith
C. Edward Hastings Chamberlain
D. Joan Violet Robinso
A
The first to define macroeconomics, which became a separate field of inquiry
only with Keynes’s book, as the “theory of output as a whole”
A. Thorstein Veblen
B. John Kenneth Galbraith
C. Edward Hastings Chamberlain
D. Joan Violet Robinson
D
- Growth as an expansion of the system in one or more dimensions without a change in its structure and development as an innovative process leading to the structural transformation of social systems
A. Professor Dudley Seers
B Amartya Sen
C. Michael Todaro
D. Milton Friedman
D
Applying the economist’s concept of opportunity cost, showed that as market wages rose, the cost to married women of staying home would rise.
A. Friedricn Hayek
B. Joseph Schumpeter
C. George J. Stigler
D. Gary S. Becker
D
- is the economist who coined the term product differentiation
A. Thorstein Veblen
B. John Kenneth Galbraith
C. Edward Hastings Chamberlain
D. Joan Violet Robinson
C
He pointed out that entrepreneurs innovate not just by figuring out how to use
inventions, but also by introducing new means of production, new products
and new forms of organization
A. Friedrich Hayek
B. Joseph Schumpeter
C. George J. Stigler
D. Gary S. Becker
B
_is related to a quantitative sustained increase in the
country’s per capita output or income accompanied by expansion in its labor force, consumption capital and volume of trade.
A. Economic Growth
B. Economic Development
C. Human Development index
D. Social Change
A
the power of large firms was offset by the countervailing power of large unions so that consumers were protected by competing centers of power
A. Veblen
B. Galbraith
C. Chamberlain
D. JOan Robinson
B
