Question
Download Solution PDFMatch the items in List I with those in List II.
List I |
List II |
||
i. |
Balanced Growth Theory |
a. |
Rosenstein Rodan |
ii. |
Big Push Theory |
b. |
Feldman-Mahalanobis |
iii. |
Secular Deterioration |
c. |
Ragnar Nurkse |
iv. |
Capital Goods and Heavy Industry |
d. |
Prebisch-Singer |
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Balanced Growth Theory is associated with Ragnar Nurkse.
- Big Push Theory is attributed to Rosenstein Rodan.
- Secular Deterioration is linked to Prebisch-Singer.
- Capital Goods and Heavy Industry is related to Feldman-Mahalanobis.
- Thus, the correct matching is i - c, ii - a, iii - d, iv - b.
Additional Information
- Ragnar Nurkse was an Estonian international economist known for his contributions to the theory of balanced growth.
- Rosenstein Rodan was an Austrian economist who introduced the Big Push Theory, emphasizing the need for large-scale investments to overcome underdevelopment.
- Prebisch-Singer hypothesis suggests that over the long term, the price of primary commodities declines in relation to the price of manufactured goods, leading to deteriorating terms of trade for countries that export primary commodities.
- Feldman-Mahalanobis model was an economic development model proposed by Soviet economist G. A. Feldman and later adapted by Indian statistician P.C. Mahalanobis, focusing on the role of heavy industry in economic development.
Last updated on May 28, 2025
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