CPED 3

Question 1

The process by which the economic well-being and quality of a community are improved according to targeted goals and objectives.

Answer 1

Economic Development

Question 2

Policy interventions aiming to improve the well-being of people, which are also the targeted goals and objectives of economic development.

Answer 2

Policy interventions

Question 3

The concept that emerged during the 20th century but whose idea has existed far longer, developed by the USA.

Answer 3

Economic Development

Question 4

The transformation of the way of life due to technological advancement to increase production, starting in the 16th century.

Answer 4

Industrialization

Question 5

A term often used interchangeably with modernization, referring to a specific state that follows the principles of the Western world.

Answer 5

Westernization

Question 6

This focuses on the increase of national income (e.g., GDP) and is a component of economic development, measured quantitatively.

Answer 6

Economic Growth

Question 7

A measure of economic and moral progress introduced by Bhutan in the 1970s as an alternative to gross domestic product.

Answer 7

Gross National Happiness (GNH)

Question 8

The report in 1987 that emphasized considering the environmental aspect for achieving economic development, defining sustainable development.

Answer 8

Brundtland Report

Question 9

The US President who, in his 1949 inaugural speech, identified the development of undeveloped areas as a priority for the West.

Answer 9

President Harry Truman

Question 10

The decade when “development” gained prominence, focusing on economic growth, infrastructure, and social welfare.

Answer 10

1940s

Question 11

The decade when development became a tool of ideological competition between the capitalist West and the communist bloc.

Answer 11

1950s

Question 12

The decade that saw the rise of development economics theories such as modernization theory, dependency theory, and neoliberalism.

Answer 12

1960s

Question 13

The decade when issues like poverty, inequality, environmental sustainability, and human rights gained significant attention in development discourse.

Answer 13

1970s

Question 14

The decade when globalization accelerated interconnectedness through trade, finance, and information exchange.

Answer 14

1980s

Question 15

The global targets set from 2000-2015 for poverty reduction, education, health, and environmental sustainability.

Answer 15

Millennium Development Goals (MDGs)

Question 16

The global targets set from 2015-present that succeeded the Millennium Development Goals.

Answer 16

Sustainable Development Goals (SDGs)

Question 17

The primary focus of economic growth in modern times.

Answer 17

National Income (GDP)

Question 18

An index that refers to rulers in identifying the status of people, including literacy, academic achievements, and mortality.

Answer 18

Human Development Index (HDI)

Question 19

A form of economic organization started by the Western bloc to counter the communist bloc, initially focused on controlling and monopolizing steel production.

Answer 19

EU (European Union)

Question 20

The period (centuries) when Westerners believed they were the center of all things.

Answer 20

16th to 19th (centuries)

Question 21

Which of the following statements is TRUE regarding Economic Development?
a) It primarily focuses on the increase of national income.
b) It emerged in the 16th century with industrialization.
c) It focuses on achieving quality of life and includes changes in socio-cultural, political, and economic aspects.
d) It was first used by the United Kingdom.

Answer 21

c) It focuses on achieving quality of life and includes changes in socio-cultural, political, and economic aspects.

Question 22

According to Amartya Sen, what is the relationship between economic growth and economic development?
a) They are interchangeable terms.
b) Economic growth is the sole determinant of economic development.
c) Economic growth is just one aspect of the process of economic development.
d) Economic development is a component of economic growth.

Answer 22

c) Economic growth is just one aspect of the process of economic development.

Question 23

Which of these is NOT a component typically considered under Economic Development?
a) Human Development Index (HDI)
b) Infrastructure
c) Consumption
d) Number of golds

Answer 23

d) Number of golds

Question 24

Karl Seidman defines economic development as a process of creating and utilizing various assets to generate improved and broadly shared economic well-being and quality of life for a community or region. Which types of assets does he mention?
a) Natural, technological, cultural, and spiritual
b) Physical, human, financial, and social
c) Monetary, educational, health, and environmental
d) Political, religious, military, and historical

Answer 24

b) Physical, human, financial, and social

Question 25

What significant issue gained attention in development discourse during the 1970s? a) The rise of economic growth models. b) The acceleration of globalization. c) Poverty, inequality, environmental sustainability, and human rights. d) The establishment of the Millennium Development Goals.

Answer 25

c) Poverty, inequality, environmental sustainability, and human rights.

Question 26

Which concept was described as the product of industrialization by political economists of the time? a) Westernization b) Economic Growth c) Modernization d) Sustainable Development

Answer 26

c) Modernization

Question 27

What was a primary reason for the US adopting the idea of economic development right after WW2? a) To compete with the growing power of the Soviet Union. b) Realizations from the Great Depression (1920s-1940s) regarding citizen well-being. c) To expand its colonial territories. d) To promote military alliances.

Answer 27

b) Realizations from the Great Depression (1920s-1940s) regarding citizen well-being.

Question 28

The EU initially started as what type of organization? a) A political organization to unite Europe. b) An economic organization focused on controlling steel production. c) A humanitarian aid organization. d) A military alliance against communism.

Answer 28

b) An economic organization focused on controlling steel production.

Question 29

What is the core idea behind Gross National Happiness (GNH)? a) Measuring a country's wealth based solely on GDP. b) An alternative measure of economic and moral progress. c) A metric for assessing military strength. d) A system for tracking global trade balances.

Answer 29

b) An alternative measure of economic and moral progress.

Question 30

According to the text, what is a necessary condition for a state to be defined as "economically developed" regarding income distribution and poverty? a) A higher national income regardless of distribution. b) Significant increase in consumption rates. c) Equitable income distribution and lower poverty levels compared to the past. d) High levels of industrialization.

Answer 30

c) Equitable income distribution and lower poverty levels compared to the past.

Question 31

List three (3) concepts that are considered predecessors or related ideas to "economic development" before the 20th century.

Answer 31

Modernization (16th century) Westernization (17th-19th centuries) Industrialization

Question 32

List three (3) quantitative measures often associated with "Economic Growth."

Answer 32

National income (e.g., GDP) No. of houses (or similar tangible assets/wealth) No. of golds (or similar tangible assets/wealth)

Question 33

List three (3) factors that Economic Development focuses on to achieve quality of life.

Answer 33

Human Development Index (HDI) Infrastructure Consumption

Question 34

List four (4) types of assets mentioned by Karl Seidman in his definition of economic development.

Answer 34

Physical Human Financial Social

Question 35

List three (3) theories of development that shaped development policies during the 1960s.

Answer 35

Modernization theory Dependency theory Neoliberalism

Question 36

List three (3) challenges that gained attention in development discourse during the 1970s.

Answer 36

Poverty Inequality Environmental sustainability Human rights (You only asked for 3, but the text lists 4. Any 3 of these are correct.)

Question 37

List three (3) ways globalization accelerates interconnectedness as mentioned in the text.

Answer 37

- Through trade - Through finance - Through information exchange

Question 38

List the two (2) sets of global development goals mentioned, along with their respective timeframes.

Answer 38

- Millennium Development Goals (2000-2015) - Sustainable Development Goals (2015-present)

Question 39

List three (3) issues that continued to be debated in the 2010s regarding development efforts.

Answer 39

- Effectiveness of foreign aid - Role of governance and institutions - Balance between economic growth and social equity

Question 40

According to President Harry Truman's 1949 speech, what did he claim was the key to prosperity and peace?

Answer 40

Greater production (and the wider and more vigorous application of modern scientific and technical knowledge)

Question 41

A political economic model of development characterized by policies that focus on domestic control of the economy using tariffs and other barriers.

Answer 41

Economic Nationalism

Question 42

This model of development suggests that local institutions and social attitudes can restrict growth if they influence people's savings rates and investments.

Answer 42

Linear Stages of Growth Model

Question 43

The political economic model that aims to shift a society from being primarily agrarian to primarily industrial.

Answer 43

Structural-Change Theory

Question 44

This model's policies are often isolationist to allow domestic industries to grow without foreign competition.

Answer 44

Economic Nationalism

Question 45

A model of development that asserts economic development can only be achieved through industrialization.

Answer 45

Linear Stages of Growth Model

Question 46

This model portrays that an appropriately designed addition of capital partnered with public intervention leads to economic development and industrialization.

Answer 46

Linear Stages of Growth Model

Question 47

Which political economic model is characterized by restricting the movement of capital, goods, and labor? (through tariffs and tother barraier)(focus on domestic control a) Linear Stages of Growth Model b) Structural-Change Theory c) Economic Nationalism d) Modernization Theory

Answer 47

c) Economic Nationalism

Question 48

The argument that economic development can only be achieved through industrialization is a key tenet of which model? a) Economic Nationalism b) Linear Stages of Growth Model c) Structural-Change Theory d) Dependency Theory

Answer 48

b) Linear Stages of Growth Model

Question 49

A nation focusing its economic policies on changing its overall economic structure from agrarian to industrial would be applying principles from which model? a) Economic Nationalism b) Linear Stages of Growth Model c) Structural-Change Theory d) Globalization Theory

Answer 49

c) Structural-Change Theory

Question 50

Which model "does not generally agree with the benefits of globalization and unlimited free trade"? a) Linear Stages of Growth Model b) Structural-Change Theory c) Economic Nationalism d) All of the above

Answer 50

c) Economic Nationalism

Question 51

According to the Linear Stages of Growth Model, what factors, if restrictive, can limit economic growth? a) Geographic location and natural resources b) People's savings rates and investments as influenced by local institutions and social attitudes c) Global trade agreements and foreign aid d) Military strength and political stability

Answer 51

b) People's savings rates and investments as influenced by local institutions and social attitudes

Question 52

List the three (3) Political Economic Models of Development presented.

Answer 52

Economic Nationalism Linear Stages of Growth Model Structural-Change Theory

Question 53

List two (2) characteristics of Economic Nationalism.

Answer 53

- Policies that focus on domestic control of the economy using tariffs and other barriers. - Restricts the movement of capital, goods, and labor. - Does not generally agree with the benefits of globalization and unlimited free trade. - The focus of a policy is isolationist so that the industries within a nation are able to grow without the threat of competition from established companies in other countries. (Any two of these are correct.)

Question 54

List two (2) key arguments of the Linear Stages of Growth Model.

Answer 54

- Economic development can only be achieved through industrialization. - Agrees that local institutions and social attitudes can restrict growth if these factors influence people's savings rates and investments. - Portray an appropriately designed addition of capital partnered with public intervention. This injection of capital and restrictions from the public sector leads to economic development and industrialization. (Any two of these are correct.)

Question 55

State the primary focus of the Structural-Change Theory.

Answer 55

Focuses on changing the overall economic structure of a nation, which aims to shift society from being a primarily agrarian one to a primarily industrial one.