Practice Questions, MCQs & Short Problems PDF Intro Economic Development W25

Intro Economic Development, W25 Practice Questions, MCQs & Short Problems: Set 1 – Economic Development: A Global Perspective Questions and Problems 0  Intro Economic Development, W25...

Intro Economic Development, W25 Practice Questions, MCQs & Short Problems: Set 1 – Economic Development: A Global Perspective Questions and Problems 0  Intro Economic Development, W25 Personal Ethics Statement By downloading this course material presentation and using it, I am attesting to the fact that I am committing to not-use this material to upload this document in part or its entirety on any website, chat group or any social media site or distributing this document in any form to others, during and after the current semester. 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As well, I commit to adhere to the fraud policies outlined in the Regulations in the University of Ottawa’s ’s Undergraduate Studies Calendar Academic Fraud Webpage. ______________________________ __________________________ Signature Date ______________________________ __________________________ Last Name (print), First Name (print) Student Number 1  Intro Economic Development, W25 Table of Contents Short Problems.......................................................................................................... 3 Multiple Choice Questions......................................................................................... 8 Answers to Multiple Choice Questions.................................................................... 10 *** 2  Intro Economic Development, W25 Practice Questions, MCQs & Short Problems: Set 1 – Economic Development: A Global Perspective Questions and Problems Short Problems 1. Provide a definition of development economics. Justify your choice carefully. Answer: Develop your answer fully by reading chapter 1, especially Section 4 for ideas how to answer this question. Hint: Think about how development economics is more than just growth in GDP. 2. In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone is not sufficient to guarantee the reduction of poverty and the growth of self-esteem. Is it 3  Intro Economic Development, W25 possible that there could be growth of per capita income without the achievement of these other objectives? Answer: Per capita income can show growth even when that growth does not touch vast portions of the population. This point is suggested in the comparative case study of Pakistan and Bangladesh; you can also read ahead in Chapter 5 and summarise what you learn there. The growth may be centered in one area or sector of the economy, for example. Also, most developed countries have, at some time in their histories, introduced policies emphasising equality. 3. In what way is development economics greater in scope than traditional economics? Make a case that development economics might be merely a combination of all the other subfields of economics, only applied to low-income countries. Answer: Development economics must encompass the study of institutional, political, and social as well as economic mechanisms for modernising an economy while eliminating absolute poverty and transforming states of mind as well as physical conditions. More details found in the chapter; summarise them. 4. Do you think it is in the material interests of high-income countries to help low- income countries improve their economic performance? Why or why not? Answer: Your answer can touch on, among other variables, increasing the market for products in which high-income countries have a comparative advantage, reducing the dangers of regional war and terrorism, reducing international transmission of disease, and curbing international migration. 4  Intro Economic Development, W25 5. How is happiness related to development? Explain. Answer: Your answers should make reference to the correlation between happiness and income level as well as touch on the connection between happiness and social relationships, personal and democratic freedoms, religious beliefs, and health, among other factors listed on page 12. Further, the answer should include a discussion on happiness as being a part of Amartya Sen’s concept of functionings. 6. How does the concept of "capabilities to function" help us gain insight into development goal and achievements? Is money enough? Why or why not? Answer: The concept of "capabilities to function," introduced by economist Amartya Sen, provides a deeper understanding of development goals and achievements by focusing on what individuals can actually do and be - their capabilities - rather than merely on material wealth or income. Here’s a breakdown of how this concept enhances our insight into development: 1. Focus on Human Well-Being Beyond Income: Unlike traditional economic measures like GDP per capita, the capabilities approach looks at the actual freedoms and opportunities people have to live the kind of life they value. This includes aspects like health, education, and personal freedoms. Holistic Development: By considering a range of capabilities, the approach offers a more comprehensive view of development that includes both material and non-material aspects of well-being. 2. Individual Empowerment 5  Intro Economic Development, W25 Agency and Choice: The capabilities approach emphasizes the importance of individuals having the freedom to make choices that affect their lives. Development is seen as enhancing people's abilities to make these choices. Empowerment: This focus on individual empowerment can lead to more sustainable and inclusive development, as people are better able to take control of their own lives and contribute to society. 3. Addressing Inequality Beyond Averages: Traditional measures often mask inequalities within a society. The capabilities approach highlights disparities in opportunities and freedoms, helping to identify marginalized groups and target interventions more effectively. Equity: By emphasizing equitable access to capabilities, this approach promotes social justice and inclusivity as key development goals. Is Money Enough? Why or Why Not? 1. Money is Necessary but Not Sufficient Basic Needs: Money is important as it provides the means to access basic needs like food, shelter, and healthcare. Without sufficient financial resources, individuals may struggle to achieve basic functioning. Limitations of Wealth: However, money alone does not ensure that people can lead fulfilling lives. For example, having wealth doesn't automatically translate into good health or education if there are no adequate services or if there are social barriers. 2. Other Essential Factors 6  Intro Economic Development, W25 Health and Education: Access to quality healthcare and education is crucial for enhancing capabilities. These services enable individuals to be healthy and knowledgeable, which in turn enhances their ability to pursue opportunities. Social and Political Freedoms: Freedom from discrimination, political stability, and a supportive social environment are also vital. These factors can significantly impact an individual's ability to make meaningful life choices and participate in society. Conclusion The concept of "capabilities to function" shifts the focus from mere economic growth to human-centered development, emphasizing the importance of empowering individuals with the freedoms and opportunities they need to lead fulfilling lives. While money is a necessary component of development, it is not sufficient on its own. A comprehensive approach that includes health, education, and social and political freedoms is essential for achieving true development. 7. Compare and contrast the UN’s Millennium Development Goals (MDGs) 2000–2015 with the Sustainable Development Goals (SDGs) put forward in 2015? What do you consider to be the most important of either set of goals and why? Answer: Read Section 7. The answer should stress that both sets of goals cover a broad range of objectives both economic and social. These were put forward so that developing countries would have numerical targets against which their progress could be judged and, where warranted, appropriate assistance offered. 7  Intro Economic Development, W25 8. Why are women often referred to as playing a central role in economic development? Answer: An answer should include how women can influence whether or not the next generation will be impoverished through their role of childrearing based on the resources they bring to this task and the values they pass to their children. Another key point that should be mentioned is that empirically, women tend to allocate a higher percentage of the income under their own control to the family and children than men. *** Multiple Choice Questions 1. Countries tend to be classified as more or less developed based on a) the literacy rate. b) the poverty rate. c) the level of income per capita. d) the types of goods they produce. 2. Sen’s “capability to function” implies (a) that you cannot measure economic development by income alone. 8  Intro Economic Development, W25 (b) that health and education are important. (c) that social inclusion and empowerment are important. (d) all of the above. 3. A subsistence economy is (a) a very low-income economy. (b) an economy in which people make what they consume. (c) an economy in which people receive food for pay. (d) all of the above. 4. Development economics is the study of the (a) alleviation of absolute poverty. (b) transformation of institutions. (c) allocation of resources in developing countries. (d) all of the above. 5. Development economics must have a scope wider than traditional economics because (a) values and attitudes play little role in the pace of development. (b) people in developing societies do less utility-maximising. (c) transformation of social institutions is necessary for development. (d) all of the above. 6. A good definition of the meaning of development is the (a) elimination of absolute poverty. (b) improvement in the quality of life. (c) fulfillment of the potential of individuals. (d) all of the above. 9  Intro Economic Development, W25 7. Which of the following is not an important objective of development? (a) increases in per capita income (b) the expansion of available choices (c) increases in individual and national self-esteem (d) all of the above are important objectives of development 8. Some of the targets of the Sustainable Development Goals include (a) eliminating extreme poverty. (b) growth of at least 7% per year for the least-developed economies. (c) universal access to safe and affordable drinking water by 2030. (d) all of the above. 9. The core values of development include (a) increasing income per person. (b) reducing the inequality of income. (c) the ability to meet basic needs. (d) all of the above. Answers to Multiple Choice Questions 1. C 2. D 10   Intro Economic Development, W25 3. B 4. D 5. C 6. D 7. D 8. D 9. C Iti 11   Intro Economic Development, W25 Copyright Some content in this presentation is copyright of McGraw Hill and/or Macmillan and/or Cambridge University Press, and/or Pearson Canada. Please refer to the course syllabus for the referenced course textbooks. This work is protected by U.S. and Canada’s copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the World Wide Web) will destroy the integrity of the work and is not permitted. The work and materials from it should never be made available to students except by instructors using the accompanying text in their classes. All recipients of this work are expected to abide by these restrictions and to honor the intended pedagogical purposes and the needs of other instructors who rely on these materials. 12 