Economic Development and Cultural Explanations Quiz
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Economic Development and Cultural Explanations Quiz

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Questions and Answers

According to Max Weber, what role does culture play in social sciences theories?

  • It has no role in social sciences theories
  • It is the only factor in social sciences theories
  • It plays a fundamental role in social sciences theories (correct)
  • It is a minor factor in social sciences theories

    • What did Calvinism doctrine emphasize, according to Max Weber?

  • Ascetism and frugal life (correct)
  • Hedonism and stimulation
  • Luxury and materialism
  • Work-life balance

    • What does Schwartz's concept of 'Embeddedness' refer to?

  • High degree of respect for tradition and security (correct)
  • Intellectual autonomy and self-direction
  • Valuing stability of the social order
  • Emphasis on benevolence and universalism

    • According to Ronald Inglehart's research, what did 250,000 respondents worldwide provide responses to?

    <p>1,000 questions on cultural values</p> Signup and view all the answers

    Why have economists been reluctant to embrace cultural explanations, according to the text?

    <p>Cultural explanations do not contribute to understanding development and economics</p> Signup and view all the answers

    According to the Lewis model, what is a key difference between the subsistence sector and the modern sector?

    <p>The likelihood of capital accumulation</p> Signup and view all the answers

    In the classical phase of economic development, what happens to wages as surplus labor moves into the capitalist sector?

    <p>Wages remain stagnant</p> Signup and view all the answers

    What characterizes the neoclassical phase of economic development according to the text?

    <p>Wages are set by marginal product and begin to trend upward</p> Signup and view all the answers

    What concept explains the shift of economic distribution from agriculture to industries as economies became more modern?

    <p>Structural transformation</p> Signup and view all the answers

    According to the text, what is a key difference between the subsistence sector and the modern sector?

    <p>Marginal product of labor</p> Signup and view all the answers

    In the Lewis model, what is the key difference between the marginal product of labor in the subsistence sector and the modern sector?

    <p>The marginal product of labor is relatively low in the subsistence sector but higher in the modern sector.</p> Signup and view all the answers

    According to the Lewis model, what characterizes the classical phase of economic development?

    <p>Surplus labor moves into the capitalist sector as capital stock accumulates, driving economic growth, while wages remain stagnant due to surplus labor.</p> Signup and view all the answers

    What is one of the key differences between the neoclassical phase and the classical phase of economic development?

    <p>In the neoclassical phase, surplus labor is finally exhausted and the subsistence sector merges into the capitalist sector, leading to an upward trend in wages.</p> Signup and view all the answers

    What role does capital accumulation play in the Lewis model's explanation of structural transformation?

    <p>Capital accumulation drives economic growth and the shift of economic distribution from agriculture to industries.</p> Signup and view all the answers

    According to the text, what characterizes the shift from the subsistence sector to the capitalist sector in terms of wages during the classical phase of economic development?

    <p>Wages remain stagnant as long as a significant pool of surplus labor remains.</p> Signup and view all the answers

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