Economics MCQs

Page No. 182

Polish economist Oskar Lange’s model of decentralized ______ combined the advantages of market allocation with more uniform income distribution by dividing the returns from social ownership of nonhuman productive resources among the whole population ?


amarket socialism


bcapitalism


cmixed economy


dmonopoly


View Answer market socialism

Most mixed or capitalist developing countries are limited to an indicative plan, which indicates expectations, aspirations, and intentions ?


a but falls short of authorization


b with immediate implementation


cof the central bank


dof implementation through foreign aid



Worker-managed socialism helped contribute to ________ ‘s rapid economic growth from 1959 to 1979?


aYugoslavia


bChile


cVietnam


dJapan


View Answer Yugoslavia

The input-output table, when divided vertically shows ?


athe inputs to each industry from other industries and sectors


b development planning and the required information on national income growth


cthe planned public capital divided by feasible actual industrial projects public capital


d how the output of each industry is distributed within the sectors of the economy



The market efficiently allocates scarce resource among alternative ends such that ?


aconsumers receive goods for which they are willing to pay


bProduction resources hire out to maximize income)


cthe market determines available labor and capital


dAll of these


View Answer All of these

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of _____ while presidential governments manipulate the timing of _____?


amonetary policy, fiscal policy


belections; economics policies


ceconomic policies; political policies


dtax collection, tax implementation



Planning in many LDCs has failed because detailed programs for the public sector have not been worked out and ?


agovernments depend primarily on their colonial masters


bexcessive controls are used in the private sector


cthe brain drains cost government substantially


d monopolies dominate in the agricultural sector



Which of the following is not a public policy to promote the private sector ?


aInvestigating development potential through scientific and market research and natural resources surveys


bProviding adequate infrastructure for public and private agencies


cCreating markets, including commodity markets, security exchanges, banks credit facilities and insurance companies


dIncreasing market monopolies and oligopolies to help producers



Under Soviet-type economy-wide central planning ?


amost resource lack freedom to move to their highest value uses


b resources are free to move to their lowest cost uses


cresources owned by private entities moves to efficient use but not those owned publicly


dresources are privately owned by capitalists



Goals are achieved through ____ such a monetary fiscal, exchange rate tariff tax subsidy, business incentive foreign investment and foreign aid?


a indicative plan


bcentral bank policies


ccentral planning


dinstrument variables


View Answer instrument variables

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