A. Reiterated their faith in the people that wages are determined by supply and demand
B. Asserted that the wages are determined by the productivity of the last worker employed
C. Asserted that the wages of workers had consistently increased
D. None of the above
Related Mcqs:
- Which one of the following has been wrongly listed as a feature of model of development offered by neo-classical thinkers?
A. Development is a gradual and continuous process
B. The process of development has harmonious and cumulative nature
C. They are quite optimistic about the possibilities of continued economic progress
D. None of the above - The neo-classical thinkers about development believe that existing social order:
A. Should be destroyed
B. Should be preserved
C. Should be modified to certain extent
D. Was not conducive for the utilisation of existing resources - The chief defect of the neo-Classical theory of development is: __________?
A. It attaches too much importance to factors like political stability and attitude of the people
B. It completely ignores factors like political stability and attitudes of people
C. It refused to consider development as a gradual and continuous process
D. It completely ignores the importance of interest as a factor in establishing equilibrium between supply of savings and demand for capital - According to classical thinkers which one was not a measuring yard for development:
A. Land
B. Labour
C. Capital
D. Education - Which one of the following is not correct about classical thinkers or development?
A. Social product was the outcome of labour utilised
B. Level of wages could be arbitrarily fixed
C. Level of wages could not be changed by labour unions
D. Level of wages could not be changed by the Government
E. Level of wages was linked with employment capacity of economy. - Which one of the following classical thinkers based the development theory on the prinicple of population?
A. Malthus
B. Adam Smith
C. J.S Mill
D. All the above - The classical thinkers envisaged development:
A. With the assistance of the government
B. Without interference by the government
C. Under the guidance of the government
D. Though the combination of all the above methods - The neo-classiest in their development theory have laid stress on: _________?
A. Capital formation
B. Rate of interest
C. Surplus value
D. Dialectical materialism
E. Proletariat revolution - According to some thinkers political development cannot be measured in terms of political modernisation because:
A. It is not suited to third world countries
B. Both are opposed to each other
C. Western countries are opposed to it
D. Term political modernisation is ambiguous
E. None of the above - Which of following thinkers built up theory of development around theory wages and rent?
A. Marx
B. Ricardo
C. Adam Smith
D. None of the above
