WTO and Developing Economies MCQs

Which economic theory emphasizes the role of savings and investment in fostering economic growth?

A) Dependency theory

B) Harrod-Domar model

C) Lewis model

D) Neoclassical growth theory

The concept of “unbalanced growth” is associated with which development theorist?

A) Rostow

B) Prebisch

C) Rosenstein-Rodan

D) Myrdal

According to Rostow’s stages of economic growth, which stage involves the development of manufacturing and industrialization?

A) Traditional society

B) Pre-conditions for take-off

C) Take-off

D) Drive to maturity

The term “Import Substitution Industrialization (ISI)” refers to:

A) Export-oriented industrialization

B) Fostering economic growth through foreign aid

C) Replacing imported goods with domestically produced goods

D) Promoting foreign direct investment (FDI)

Which development theory emphasizes the unequal relationship between developed and developing countries?

A) Dependency theory

B) Modernization theory

C) Neoclassical growth theory

D) Structural adjustment theory

The “Washington Consensus” refers to:

A) A set of neoliberal policies promoted by international financial institutions

B) An agreement on climate change mitigation strategies

C) A treaty on international trade and tariffs

D) A framework for debt forgiveness for developing countries

The “Asian Tigers” refers to:

A) A group of endangered species in Asia

B) Fast-growing economies in East Asia, including South Korea and Taiwan

C) A regional trade bloc in Southeast Asia

D) An alliance of Asian nations against colonialism

Which economic theory emphasizes the role of foreign direct investment (FDI) and multinational corporations (MNCs) in economic development?

A) Lewis model

B) Export-led growth theory

C) Neoclassical growth theory

D) Dependency theory

The “Dual Economy” concept refers to:

A) An economy with two currency systems

B) A division between urban industrial and rural agricultural sectors

C) A model of economic growth with dual government control

D) A type of economic system in socialist countries

The concept of “Human Development Index (HDI)” includes indicators of:

A) Economic growth and inflation rates

B) Income inequality and poverty rates

C) Education, health, and standard of living

D) Foreign exchange reserves and trade balances