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Planned economy: Quiz


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Question 1: Although most economies today are ________ or mixed economies (which are partially planned), planned economies exist in some countries such as Cuba, Libya, Saudi Arabia, Iran, North Korea, and Burma.
Social market economyAnarchist economicsMarket economyParticipatory economics

Question 2: This difficulty was first noted by economist ________, who called it the "economic calculation problem".
Ludwig von MisesMurray RothbardLew RockwellFriedrich von Hayek

Question 3: There are branches of socialism such as ________, that reject a centralized state, and all of these tendencies reject economic planning as well and instead favor decentralised collective ownership of the economy and property.
Libertarian socialismLeft-libertarianismMutualism (economic theory)Individualist anarchism

Question 4: This is especially important where returns are risky (e.g. ________ technology) or where the return is diffuse (e.g. immunization programs or public education).
Nuclear fusionAneutronic fusionFusion powerPlutonium

Question 5: This shock therapy program was implemented in several former communist states like ________ and Russia.

Question 6: Swedish public housing models were planned by the government in a similar fashion as ________.
New townUrban planningApartmentSkyscraper

Question 7: Another example of this is the utilization of indicative planning and ________, both of which were practiced in France and Great Britain after the Second World War.
DirigismeBenito MussoliniCorporatismFascism

Question 8:
Planned economy, Economy of the Soviet Union and Transition economy are all:
Economic planning Economies Former communist economies Economic systems

Question 9: Still, most of the economic hardship that struck many of the former eastern block countries and the post-Soviet states comes from the program of shock therapy that was invented by ________.
Robert SolowMilton FriedmanGeorge StiglerGary Becker

Question 10: In such economies, central economic planning by the state or ________ controls all major sectors of the economy and formulates all decisions about the use of resources and the distribution of output.


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