Walt W Rostow's Transition Stage of Economic Development Argued That

question 63

Multiple Choice

Walt W. Rostow's transition stage of economic development argued that:

• A) the development of internal and external markets allowed the sale of agricultural surpluses and the import of new goods with foreign technology
• B) this was the moment when developing countries switched to large-scale agriculture and industry
• C) this was a period of rapid urbanization and industrialization
• D) the economies of developing countries were mostly agricultural and focused on subsistence
• E) countries would become more economically diversified and less reliant on imports to cover necessities

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Definitions:

Money Supply

The total amount of money available in an economy at a specific time, including cash and various types of deposits.

Government Securities

Financial instruments issued by the government to finance its expenditures, offering a return to the investors.

Banking System

The network of institutions that accept deposits, offer loans, and provide a variety of financial services to their customers, including savings and checking accounts.

Paper Money

Currency in the form of paper notes, issued by the government or central bank, representing a claim on the issuing country's government.