Developemtn Economics

Developing economies usually have

• low CPI

• large budget surplus

• low GDP per capita

• large balance of payment surplus

Improving the economic situation - better lives for people

• urbanization

• industrialization

• modernization

• economic development

Amartya Sen suggests ______ as a possible metric to identify "good economic outcomes"

• GDP

• capabilities

• happiness

• functionings

According to Michel Todaro, three core values of development are

• sustenance, self-esteem and rise in material well-being

• expansion in per-capita output, self-esteem and freedom

• life sustenance, self-esteem and freedom from survitude

• none of them

Supporters of the new view of economic development

• believe the development process can be usefully measured by improvements in a country's balance of payment

• believe that development is primarily an economic phenomenon in which per capita GNP growth will automatically create better quality of life

• believe that the focus of development strategies should be on GDP growth

• believe that development should be thought of as a multidimensional process