Economics Mcqs

Branko Horvat’s historical review of the last two and one-half century indicates that in large part market or decentralized socialism ?

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Branko Horvat’s historical review of the last two and one-half century indicates that in large part market or decentralized socialism ?

A. has failed
B. works well in Utopia
C. is widely used in sub Saharan Africa
D. is the only way to eradicate poverty?

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 ?

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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 ?

A. market socialism
B. capitalism
C. mixed economy
D. monopoly

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

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

A. but falls short of authorization
B. with immediate implementation
C. of the central bank
D. of implementation through foreign aid

The input-output table, when divided vertically shows ?

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The input-output table, when divided vertically shows ?

A. the inputs to each industry from other industries and sectors
B. development planning and the required information on national income growth
C. the 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 ?

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

I- consumers receive goods for which they are willing to pay
II- Production resources hire out to maximize income)
III- the market determines available labor and capital
IV- the market distributes income among rich individuals
A. III and IV only
B. II and III only
C. I, II and III only
D. I, II, III and IV

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

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

A. monetary policy, fiscal policy
B. elections; economics policies
C. economic policies; political policies
D. tax collection, tax implementation

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

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

A. governments depend primarily on their colonial masters
B. excessive controls are used in the private sector
C. the 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 ?

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

A. Investigating development potential through scientific and market research and natural resources surveys
B. Providing adequate infrastructure for public and private agencies
C. Creating markets, including commodity markets, security exchanges, banks credit facilities and insurance companies
D. Increasing market monopolies and oligopolies to help producers