MCQs of Economics – Development Planning and Policymaking: The State, And the Market

Deepak Lal argues that development economics is dominated b a ____ approach that favors government intervention into LDC prices

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

Government’s use of coordinated policies to achieve national economic objectives is

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

According to Oskar Lange’s model socialist enterprises should produced where

The input-output table, when divided vertically shows

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

A medium-term plan can be a(n) _____ revised at the end of each year

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

Annual GNP growth of 6% poverty reduced by 1% point of the population Balance of payments deficit not in excess of $200 million
For a planner, the above are

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

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

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

Under Soviet-type economy-wide central planning

Which of the following assumptions underlying input-output analysis raise questions about its validity?
I- The technical coefficients are fixed which means so substitution between inputs occurs
II- There are no externalities so that the total effect of carrying out several activities is the sum of the separate effects
III- Each good is produced by only one industry and each industry produces only one commodity
IV- There is no technical change

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

A state planning ideology arose in LDCs as a reaction to nationalist perceptions of:

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