A. It underestimated the possibility of technological progress
B. It failed to adequately analyze the problem of maintaining aggregate demand
C. It attached too much importance to the role of technology in development
D. None of the above
Related Mcqs:
- Which one of the following is not valid criticism against classical theorists of political development?
A. They underestimated technological progress
B. They failed to analyse problems of aggregate demands
C. They overestimated technological progress
D. They wrongly assumed that per capita income rests diminishing returns
E. None of the above - Which one of the following is not true criticism against Marxian theory of development?
A. It is wrong that capitalist keeps some workers permanently unemployed
B. Marx analysis of theory of wages is inadequate
C. Marx has rightly pin-pointed the effects of technological unemployment
D. None of the above - According to the classical theory of development, the development of a country depends on: ___________?
A. Land, labour and capital
B. Labour, capital and technology
C. Technology and capital
D. Labour and technology - 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. - Main criticism against the legal theory of rights is that it: ____________?
A. Believes that state alone creates rights
B. Has made rights dependent on others
C. Has given worong notion of rights
D. Has make rights above society
E. Has not properly understood rights - Which one of the following put forth classical theory of development?
A. Ricardo
B. Keynes
C. Marx
D. Marshall - Which one of the following writer was not associated with the classical theory of development?
A. Adam Smith
B. Ricardo
C. Malthus
D. Marshall - 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 most elaborate exposition of classical theory of development was offered by: ________?
A. Adam Smith
B. Ricardo
C. J.S. Mill
D. Malthus - 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
