According to Rostow's Five Stages of Development,which of the Following

question 15

Multiple Choice

According to Rostow's five stages of development,which of the following is characteristic of Stage 1?

• A)Increased agricultural productivity.
• B)Low productivity.
• C)Growth-enhancing policies.

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Definitions:

Coase Theorem

The idea, first stated by economist Ronald Coase, that some externalities can be resolved through private negotiations among the affected parties.

Public Choice Theory

A theory that applies economic principles and methodologies to the analysis of political science, investigating decision-making in public sectors.

Government Decision Making

Involves the processes and actions through which government officials or bodies determine policies, allocate resources, and address public issues.

Fiscal Policy

Changes in government spending and tax collections designed to achieve full employment, price stability, and economic growth; also called discretionary fiscal policy.