Development Planning and Policy-making The State, And the Market
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- Development Planning and Policy-making The State, And the Marketeconomics-mcqs › development-planning-and-policy-making-the-state-and-the-market
- Published
- 2 Jun 2019
- Last updated
- 28 May 2026
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Which set of assumptions inherent in input-output analysis calls into question its overall validity?
Multiple choice question for Development Planning and Policy-making The State, And the Market. Select an option, then review the explanation below.
Explanation
The assumptions are: (I) Technical coefficients remain constant, implying no substitution between inputs; (II) No externalities exist, so the combined impact of multiple activities equals the sum of individual effects; (III) Each commodity is produced by a single industry, and each industry produces only one product; (IV) There is no technological progress. These assumptions together (I, II, III, and IV) limit the validity of input-output analysis.
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Practice related questions from the same subject.
- 1.In less developed countries, which issue prompted the emergence of a state-led planning approach as a response to nationalist views?
- 2.According to Branko Horvat's historical analysis of the past 250 years, what has been the general outcome of market-based or decentralized socialism?
- 3.Which economic system, developed by Polish economist Oskar Lange, integrates the benefits of market allocation with equitable income distribution by sharing the profits from socially owned nonhuman productive assets among all citizens?
- 4.In most mixed or capitalist developing nations, what is the nature of an indicative plan that outlines goals and intentions?
- 5.Which country experienced rapid economic growth between 1959 and 1979, partly due to its worker-managed socialist system?