Discussion
The capital-turnover criterion of investment is associated with ............ these economists.
Answer: B
The capital-turnover criterion is associated with J.J. Polak and N.S. Buchanan (printed 'Buchanon').
The criterion ranks investment projects by their capital-turnover ratio, the output produced per unit of capital (the inverse of the capital-output ratio). In a capital-scarce country, projects with a quick and high turnover of capital should be preferred, because they yield the most output from scarce capital. Polak and Buchanan advanced this rule in the 1940s.
Kaldor and Rosenstein-Rodan, Nurkse and Hirschman, and Robinson and Rostow are associated with other development ideas, such as the big push, balanced and unbalanced growth and the stages of growth.
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