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 ?

Related Mcqs:

1. Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

   A. really don’t disagree at all It just appears that they disagree.
   B. disagree because they have different values.
   C. none of these answers.
   D. disagree because they have different scientific judgments.

2. There is a decentralized market where geographically dispersed dealers are linked by telephones and computer screens. The market is for securities not listed on a stock or bond exchange. Name the market ?

   A. Grey market
   B. Over-the counter (OTC)
   C. Open market
   D. Back market

3. The analyzes the income distribution effects of trade in the short run when resources are immobile among industries ?

   A. Stolpher-Samuelson theory
   B. factor endowment theory
   C. specific factors theory
   D. overlapping demand theory

4. The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

   A. have few substitutes.
   B. are normal goods
   C. have few complementary goods.
   D. have many complementary goods.

5. Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?

   A. None of these answers
   B. Disagree because they have different scientific judgments
   C. really don’t disagree at all. It just appears that they disagree
   D. disagree because they have different values

6. We cannot say whether one allocation of resources is better than another allocation because ?

   A. some people can’t count
   B. some people may not be permanent resident
   C. not all economic activity is legal
   D. We can’t make value judgments to compare different people’s welfare

7. Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?

   A. accurately represent the true inequality of living standards
   B. understate the inequality of living standards
   C. exaggerate the inequality of living standards
   D. could exaggerate of understate the inequality of living standards depending on whether the transfers are goods or services.

8. 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?

9. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

10. Because people’s income vary other the life cycle and because there are transitory shocks to people’s incomes the standard measures of income distribution ?

    A. exaggerate the inequality of living standards
    B. could exaggerate or understate the inequality of living standards depending on whether the transitory shocks are positive or negative
    C. understate the inequality of living standards
    D. accurately represent the true inequality of living standards