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If income were perfectly equally distributed, poorest 20 per cent of individuals or families. What was the average income of the remainder of the population?
What public policies might be required? What initial conditions might be important if an economy is to have a positive rate of technical efficiency change?
What specific positive externalities might be expected from workers with more education interacting with other workers with education or even with workers?
What might at first sound like a vacuous and not very helpful observation actually captures the essence of the neoclassical theory of economic growth.
What are the conditions that must hold for incomes to converge? What would unconditional convergence of incomes imply for incomes of countries in the future?
Under what social and economic conditions are markets likely to fail? When is there likely to be government failure?
Compare their contrasting approaches to rent-seeking. Where do they agree, and when and why do they disagree?
What are the lessons to be learned regarding the role of the state versus the role of the market in this instance?
Review the discussion of Deepak Lal and determine if the issues raised by Lal can be understood with greater precision with the use of Evans's categories.
Review the discussion of the critique of state policies and practices offered by the neoliberals.
Distinguish between backwash effects and spread effects. How do these two ideas of Myrdal's relate to the concept of cumulative causation?
What are problems faced by primary product exporters? Are there primary products that countries export which would, perhaps, not subject to same difficulties?
Discuss the possible policy changes for the economy and any other strategies you would recommend to avoid declining terms of trade in the future.
Why do you think Raúl Prebisch's use of the terms center and periphery, and the idea that relations between them were antagonistic.
What is meant by the international division of labor? What function does the periphery play vis-à-vis the center countries in this division of labor?
Examine what has happened to the terms of trade for two countries of your choice over a period of at least five years.
What did Lewis mean when he wrote that there was a surplus of labor in agriculture? How does one easure that surplus?
Briefly explain the ideas of virtuous circles. Can you give two different examples of virtuous circles that might affect a less-developed economy?
Why might unbalanced growth be easier, and less costly, for a poor economy to follow than a balanced growth strategy?
Why and how did Hirschman argue that by putting things the wrong way around, by actually creating disequilibrium, economic development could be promoted?
How can a fair test of Rostow's stages model be formulated? Analyze the history of a specific economy to see if such a test can be made.
In what sense would you argue that the economists discussed in this chapter formed a school of thought? What ideas did they tend to share?
In what respects do their apparently contrasting views on exports actually coincide, and where do differences remain?
What can you say about the relative equilibrium level of income, y, in the two economies?
Explain why using the purchasing power parity measure of GNI per capita is considered a better measure for comparing development levels between nations.