The Rostow stages of growth model lists which of the following as the first stage? MCQ with Answer and Explanation

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The Rostow stages of growth model lists which of the following as the first stage?

A. Take-off

B. Age of high mass consumption

C. Drive to maturity

D. Traditional society

Answer: Option D

Solution (By JKSSB Mock Tests)

Rostow's first stage is traditional society, followed by preconditions for take-off, take-off, etc.

This question belongs to: Economy GK Economy Set 1

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Question #1

If a country's current account is in deficit, its capital account must be in:

A. surplus or official reserves must fall

B. deficit as well

C. equilibrium

D. zero

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Correct Answer: Option A

Explanation:
A current account deficit must be financed by a capital account surplus or a drawdown of official reserves.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of fiscal policy, 'Automatic Stabilisers' operate through:

A. Only discretionary changes in spending

B. Only exchange-rate adjustments

C. Built-in features of the tax and transfer system that dampen fluctuations without discretionary action

D. Only changes in the monetary base

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Correct Answer: Option C

Explanation:
Automatic stabilisers are elements of the fiscal system—progressive taxes and unemployment benefits—that automatically reduce the amplitude of business-cycle fluctuations without the need for new legislation.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'C2 cost' in agriculture includes A2 plus family labour plus:

A. only fertilizer cost

B. only seed cost

C. interest on land and fixed capital

D. only pesticide cost

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Correct Answer: Option C

Explanation:
C2 cost includes A2 plus family labour plus interest on land and fixed capital.

This question belongs to: Economy GK Economy Set 1

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