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- Modified True or False One of the criticisms of Neoclassical and free-market theory of development is its no insight on how countries initiate and sustain development.Based from the material provided, give the point of view of the following classical economists on economic development. Explain the pros and cons. Economist Focus and viewpointAdam SmithDavid RicardoJohn Stuart MillThomas MalthusMarx and EngelsJosephSchumpeter Reflection:Do you think the concepts and views of the economists are true and relevant for economicdevelopment? (cite the theories/ views of the economist/s that are relevant)Why do mainstream institution theories have a highly problematic understanding of the relationship between instetutions and economic development?
- Using the inter-temporal choice approach, describe individuals who make optimal savings to support their optimal investment strategy with a graph! Is this approach feasible in developing countries? Explain it at length!Examine the relevance of human requirement approach in planning education in a country with high level of educated unemployment.To what extent does attitudinal change as a psychological strategy help in promoting national development?
- Is the term “developing country” still relevant and/or appropriate? Clearlyexplain your response and provide supporting evidence or examples.Population growth is relatively stable in which stage(s) of demographic transition? Choose all that apply. Transitional Industrial Post-industrial Pre-industrialTRUE or FALSE 21. In the development efforts of the Philippines, hard infrastructures can be done by the privately owned firms as long as these firms are 100% Filipino owned. 22. Migration is a product of push factors from both the country of origin and the country of destination 23. The age structure in a country does not necessarily reflect its burden of dependency. 24. In the Philippines, men live longer than women generally. 25. Healthcare, sanitation, education, and independence of women are considered parts of the demographic transition of a nation. 26. The demand for children equation posits that the demand for surviving children is directly related to the net price of children but is indirectly related to the taste for goods relative to children. 27. Fertility rate is measured from a women's perspective so does the mortality rate. 28. For the Chinese, the One-child policy is purely a disincentive to…
- Would you expect the relative returns to primary education, on the one hand, and secondary and postsecondary education, on the other hand, to change as economic development takes place?What determines growth in post-Kaleckian (post-Kaleckian) models? What are the effects of inequalities in functional income distribution and gender on the economy? Discuss both the demand and supply side effects.To what extent is the stage theory of Rostow applicable to underdeveloped countries?
