37
Economics 10
Module I
MODULE TEST
Name ________________________________ Course ________________
TEST I. Identification. Identify the terms or persons implied by the following
statements. Write your answers on the blanks provided for.
1. The three classifications of countries Highly developed countries
2. Intermediate Countries
3. Less Developed Countries
4. Process of political and economic changes necessary to achieve growth economic
development.
5. Objective of development to attain a better life for every person in a
country.
6. If the number of workers are reduced, there won't be any effect on output levels
[related to agricultural production] absolute over-population in agriculture.
7. Exports of poor countries concentrated in food and raw materials.
8. The number of births per thousand fertility rates
9. The number of deaths per thousand mortality rates
10. Statements explaining the detailed sequence of development starting with a given
situation model.
11. Statement of the relationship between an economic variable and economic
development theory
12. Policy formulated by Adam Smith Laissez Faire Policy
13. Source of wealth according to Physiocracy land
14. Forms of acceptable wealth according to the Mercantilists Gold
15.Silver
16. Development theory formulated by Karl Marx Labor Theory of Value
17. Development theory formulated by J.M. Keynes Theory of Employment
18. Model stating that technology is the key factor to development Rostow's Stages of
Growth
,19. Model stating that the interrelationship between the rural and urban areas in
development is very important Lewis Model of Development
20. GNP divided by the population income per capita
TEST II. Underline the term or phrase that best explains the
following statements:
1. [Social, economic] indicators give a better picture of the standards of living.
2. A high GNP [necessarily, not necessarily] implies a better life.
3. Adam Smith favors a [limited, extensive] role of government in development.
4. Development comes [before, after] economic growth.
5. The unemployment rate is determined by dividing the number of unemployed workers
by [population, labor force, number of students].
6. The income of this country is used to classify countries [United States, Japan, Saudi
Arabia].
7. Growth is the [result, process] of development.
8. Production performance of a country is indicated by [GNP, output levels, exports].
9. Economic development is a [temporary, permanent, continuous] process of changes.
10. These are moneylenders in the rural areas which charge very high interest rates [rural
banks, commercial banks, usurers].
TEST III. Essay
1. What is the best theory of economic development? Explain your answers.
2. Why is income per capita and GNP measures alone not enough to make a conclusion
whether a country has developed or not?
Module II
MODULE TEST
, TEST I. True or False. Write on the spaces before each number,
the letter T if the answer is true and the letter F if
the answer is false.
F 1. Industrialization should be pursued first to develop the
rural areas.
F 2. A very high employment standard will bring benefits to the country because only the
intelligent ones will be hired.
T 3. A land reform program is a must in development.
T 4. The usurers are very powerful both in the rural and urban areas.
T 5. Taxation is a very reliable source of fund for development in Third World Countries.
F 6. The technology of rich countries is always the best for poor countries.
T 7. When we borrow technology from rich countries, we should modify it to suit our
conditions.
T 8. Religious beliefs can slow down the development of a country.
F 9. The growth rate in the population of Third World Countries is higher than that of the
rich countries.
F10. Banks are very careful in lending to agriculture because of the risks involved.
TEST II. Multiple Choice. Encircle the letter representing the
best answer.
1. When a country achieves economic growth, there is no assurance that this growth will
keep on going because:
a. some concerns like the environment and human values are neglected
b. the country incurred a big foreign debt
c. the leaders learn to be corrupt
d. the people lose their religious beliefs
2. Agriculture and the rural area are vital elements to development because:
a. this is where the majority of the people live
b. this area provides the food of the country
c. this area is poor
Economics 10
Module I
MODULE TEST
Name ________________________________ Course ________________
TEST I. Identification. Identify the terms or persons implied by the following
statements. Write your answers on the blanks provided for.
1. The three classifications of countries Highly developed countries
2. Intermediate Countries
3. Less Developed Countries
4. Process of political and economic changes necessary to achieve growth economic
development.
5. Objective of development to attain a better life for every person in a
country.
6. If the number of workers are reduced, there won't be any effect on output levels
[related to agricultural production] absolute over-population in agriculture.
7. Exports of poor countries concentrated in food and raw materials.
8. The number of births per thousand fertility rates
9. The number of deaths per thousand mortality rates
10. Statements explaining the detailed sequence of development starting with a given
situation model.
11. Statement of the relationship between an economic variable and economic
development theory
12. Policy formulated by Adam Smith Laissez Faire Policy
13. Source of wealth according to Physiocracy land
14. Forms of acceptable wealth according to the Mercantilists Gold
15.Silver
16. Development theory formulated by Karl Marx Labor Theory of Value
17. Development theory formulated by J.M. Keynes Theory of Employment
18. Model stating that technology is the key factor to development Rostow's Stages of
Growth
,19. Model stating that the interrelationship between the rural and urban areas in
development is very important Lewis Model of Development
20. GNP divided by the population income per capita
TEST II. Underline the term or phrase that best explains the
following statements:
1. [Social, economic] indicators give a better picture of the standards of living.
2. A high GNP [necessarily, not necessarily] implies a better life.
3. Adam Smith favors a [limited, extensive] role of government in development.
4. Development comes [before, after] economic growth.
5. The unemployment rate is determined by dividing the number of unemployed workers
by [population, labor force, number of students].
6. The income of this country is used to classify countries [United States, Japan, Saudi
Arabia].
7. Growth is the [result, process] of development.
8. Production performance of a country is indicated by [GNP, output levels, exports].
9. Economic development is a [temporary, permanent, continuous] process of changes.
10. These are moneylenders in the rural areas which charge very high interest rates [rural
banks, commercial banks, usurers].
TEST III. Essay
1. What is the best theory of economic development? Explain your answers.
2. Why is income per capita and GNP measures alone not enough to make a conclusion
whether a country has developed or not?
Module II
MODULE TEST
, TEST I. True or False. Write on the spaces before each number,
the letter T if the answer is true and the letter F if
the answer is false.
F 1. Industrialization should be pursued first to develop the
rural areas.
F 2. A very high employment standard will bring benefits to the country because only the
intelligent ones will be hired.
T 3. A land reform program is a must in development.
T 4. The usurers are very powerful both in the rural and urban areas.
T 5. Taxation is a very reliable source of fund for development in Third World Countries.
F 6. The technology of rich countries is always the best for poor countries.
T 7. When we borrow technology from rich countries, we should modify it to suit our
conditions.
T 8. Religious beliefs can slow down the development of a country.
F 9. The growth rate in the population of Third World Countries is higher than that of the
rich countries.
F10. Banks are very careful in lending to agriculture because of the risks involved.
TEST II. Multiple Choice. Encircle the letter representing the
best answer.
1. When a country achieves economic growth, there is no assurance that this growth will
keep on going because:
a. some concerns like the environment and human values are neglected
b. the country incurred a big foreign debt
c. the leaders learn to be corrupt
d. the people lose their religious beliefs
2. Agriculture and the rural area are vital elements to development because:
a. this is where the majority of the people live
b. this area provides the food of the country
c. this area is poor
