O- Ring Model posits that there are no small tasks in the development process of nations.*

1 point

TRUE

FALSE

Diagnosis of an economic problem reduces the chance of failure in solving it.*

1 point

TRUE

FALSE

Inequality can be addressed by correcting the distortion in the prices of economic resources.*

1 point

TRUE

FALSE

Distortions in the wage of workers can be avoided when the labor market is competitive.*

1 point

TRUE

FALSE

The Foster-Greer-Thorbecke Index is a class measure of the levels of poverty and income inequality*

1 point

True

False

Minimum wage laws check the problem of purchasing power of income and solve income inequality.*

1 point

TRUE

FALSE

In developing countries, demographic transition was slower than in developed countries.*

1 point

True

False

Rural-urban migration can be prevented primarily through provision of free education.*

1 point

TRUE

FALSE

Agglomeration refers to the coming together of firms whose products are correlated in a location thus allowing for the coming together of their workers.*

1 point

TRUE

FALSE

Prisoner's Dilemma takes place when the actions taken by one firm gives the incentives for other agents to take similar action.*

1 point

TRUE

FALSE