Economics Quiz 64
1 / 50
Pakistan?s Gross Domestic Product (in contrast to Gross National Product) measures the production and income of ?
2 / 50
In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?
3 / 50
Which is false of the process of diffusion ?
4 / 50
The oldest form of power rests on_______________?
5 / 50
The foreign alliances the U.s has entered into have resulted in__________________?
6 / 50
Thomas Malthus argued that ?
7 / 50
What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?
8 / 50
Interest groups have the following traits They_______________?
9 / 50
If a marginal revenue exceeds marginal cost, a monopolists should?
10 / 50
The loss of entire categories of jobs without the creation of new occupations would be_______________?
11 / 50
The microelements of societies are made up of_____________?
12 / 50
Pakistan is the _____largest Onion Producer country in the world ?
13 / 50
Professionalization means________________?
14 / 50
Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer?s income is ?100 Suppose that the price of a pair of socks falls from ?5 to ?2 The income effect is represented by the movement from point ?
15 / 50
Besides tobacco, tea and cotton, which is the agricultural produce of China ?
16 / 50
If the home country government grants a subsidy on a domestically produced good domestic producers tend to ?
17 / 50
The interest rate is determined in ?
18 / 50
The government can curb excessive aggregate demand(inflation)by_________________?
19 / 50
If a broad spectrum of the population is surveyed at a given time the study is called______________?
20 / 50
The major segment of ?Saraiki? speaking population lives in ?
21 / 50
Theory of comparative advantages was presented by ?
22 / 50
In order to practice price discrimination which of the following is needed ?
23 / 50
Most mixed or capitalist developing countries are limited to an indicative plan, which indicates expectations, aspirations, and intentions ?
24 / 50
The balance of trade is a record of ?
25 / 50
World overpopulation could be prevented by_________________?
26 / 50
If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
27 / 50
The underground economy consists of ?
28 / 50
Which one of the following is not true ?
29 / 50
A persons family in addition to being a primary group is also a______________?
30 / 50
When aggregate supply exceeds aggregate demand ?
31 / 50
When banks prepare their balance sheets. They show the money lent in ?
32 / 50
Ideology________________?
33 / 50
In the economy when a steel producer sells steel to car producer it is regarded as ?
34 / 50
In the long-run some firms will exit the market if the price of the good offered for sale is less than ?
35 / 50
The most important source of wage differentials are ?
36 / 50
The Industrial Revolution began with_________________?
37 / 50
What was the top mild producing country ?
38 / 50
In the long run, the competitive firm?s supply curve is the ?
39 / 50
In the United States a sense of national identity ?
40 / 50
The normal rate of profit for relatively risk-free firms will be _________ the interest rate on risk-free government bonds?
41 / 50
Open market Operation is ?
42 / 50
Mercantilism ?
43 / 50
If the demand for money depends on the interest rate the velocity of circulation is ?
44 / 50
The divorce of owner ship and control causes a problem usually referred to by economists as ?
45 / 50
Real GNP is a crude measure of national welfare because it excludes ?
46 / 50
A public good is ?
47 / 50
How much of the total export earning is through agriculture ?
48 / 50
Annual growth rate of agriculture for the year 2010-11 was ?
49 / 50
Power may be asserted by_________________?
50 / 50
Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The accounting profit at Naila?s pottery factory is ?
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