1) The one limiting factor that if relaxed would be the item that accelerates growth (or that allows a larger amount of some other targeted outcome). a) Economic Agent b) Binding constraints c) Regine Velazquez d) Cherry Pie Picache 2) An economic actor—usually a firm, worker, consumer, or government official—that chooses actions so as to maximise an objective; often referred to as “agents.” a) Complementarity b) Economic Agent c) Trallalero trallallà d) Capuchina ballerina 3) An action taken by one firm, worker, or organisation that increases the incentives for other agents to take similar actions. Complementarities often involve investments whose return depends on other investments being made by other agents. a) Complementarity b) Big push c) Yes I d) Yes I’m 4) A situation in which the inability of agents to coordinate their behaviour (choices) leads to an outcome (equilibrium) that leaves all agents worse off than in an alternative situation that is also an equilibrium. a) Situationship b) Coordinabilivity c) Equilibriuminavility d) Coordination failure 5) A concerted, economy-wide, and typically public policy-led effort to initiate or accelerate economic development across a broad spectrum of new industries and skills. a) Big push b) Bigger push c) Ultra mega pro max push d) over naman sa ask 6) An economic model in which production functions exhibit strong complementarities among inputs and which has broader implications for impediments to achieving economic development a) Middle-income trap b) O-ring model c) Ariana Grande d) Taylor Swift 7) A condition in which an economy begins development to reach middle-income status but is chronically unable to progress to high-income status. Often related to low capacity for original innovation or for absorption of advanced technology, and may be compounded by high inequality a) Statement of Comprehensive Income b) Income Statement c) Middle-income trap d) Deep interventions 8) A poverty trap at the regional or national level in which underdevelopment tends to perpetuate itself over time a) Overdevelopment Trap b) Underdevelopment trap c) Mouse Trap d) Fly Trap 9) A situation in which all parties would be better off cooperating than competing, but once cooperation has been achieved, each party would gain the most by cheating, provided that others stick to cooperative agreements—thus causing any agreement to unravel. a) Prisoners’ dilemma b) Leila dilemma c) Jungkook d) Mingyu 10) A situation in which one or more persons may be made better off without making anyone worse off. a) Character development b) Pareto improvement c) Queen Dura d) Fhukerat 11) A government policy that can move the economy to a preferred equilibrium or even to a higher permanent rate of growth, which can then be self-sustaining so that the policy need no longer be enforced because the better equilibrium will then prevail without further intervention. a) Young Stunna intervention b) Geng Geng intervention c) Deep interventions d) Middle-income trap 12) A positive or negative spillover effect on a firm’s production function through some means other than market exchange. a) Technological internality b) Technological externality c) Technologicality d) Technologicalivilization

Economic Development chapter 4

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