10 in the public choice or new political economy

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10. In the public choice (or new political economy) approach to development the emphasis is on (a) growth in the rural sector. (b) the self-interested behavior of public officials. (c) the dependence of LDCs on former colonial powers. (d) the inherent efficiency of developing country markets.
11. A situation in which government intervention in the economy worsens the economic outcome is termed
12. According to the dependence theory, the developing world is known as the
13. The underlying assumption of the Harrod-Domar growth model is that
14. The supply curve of labor to industry in the Lewis model is horizontal if there is surplus labor in agriculture. This condition persists as long as (a) the marginal product of labor is less than the average product of labor in agriculture. (b) the marginal product of labor in agriculture is less than the marginal product of labor in industry. (c) there are diminishing returns to labor in agriculture.

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