ECS Exam 1 Study Guide.docx - ECS 3013 Professor Sharmila Vishwasrao List of Questions for Test 1(For all theories you should know main assumptions

ECS Exam 1 Study Guide.docx - ECS 3013 Professor Sharmila...

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ECS 3013 Professor: Sharmila Vishwasrao List of Questions for Test 1.(For all theories you should know, main assumptions, basic structure, major conclusions, policy recommendations and criticisms)1.Define economic development. 2.What are the limitations of using GNI growth as a measure of development? 3.What is PPP GNI? Does it improve on traditional methods of income comparison across countries? 4.What are the main characteristics of developing countries? (Know therelationships between income and literacy, health, poverty etc)

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