0% 0 Economics Quiz 19 1 / 50 Tobacco, a product of high commercial value these days and which grows under a wide range of climates is a major plantation of ? Argentina USA China Cuba 2 / 50 If both marginal cost and marginal revenue increase, a firm ? Should reduce output Should not change output Should increase output will require further information on how to respond 3 / 50 What could a government do to correct the current account deficit ? Reduce the repayment of loans Reduce the deficit on the balance of trade Reduce the volume of exports Reduce the surplus on the capital account 4 / 50 Which of the following is NOT true about children in a peasant society ? Children place more economic demands on a peasant family than an urban family Major financial security is usually provided by sons The cost of education entertainment and travel is low Boys as young as 8 years old tend or herd animals, weed pick and sell produce 5 / 50 Short-run equilibrium output means that aggregate demand __________ actual output? is less than is greater than fluctuates around equals 6 / 50 Foreign trade ? allows a country to have a greater variety of products at a lower cost than if it tried to produce everything to home. None of these makes a country more equitable. increase the scarcity of resources. 7 / 50 If no imported inputs (hard-disk drive) go into the domestic production of a final product (desktop computer) then the ? None of the above nominal tariff rate on the final product equals the effective tariff rate on the product nominal tariff rate on the final product is less than the effective tariff rate on the final product nominal tariff rate on the final product is greater than the effective rate on the product 8 / 50 According to Marx which group constituted a ruling elite ? The bourgeoisie The workers for the owners of the means of production The military The proletariat 9 / 50 According to the Principle of absolute advantage Japan should ? Export steel There is no basis for gainful specialization and trade Export DVDs Exports steel and DVDs 10 / 50 In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ? dumping domestic content pricing trigger pricing Orderly marketing 11 / 50 The disease burden could be measured by calculating _________ combining years lost through premature death and from living with disability? mortality-adjusted lifelong life mortality-fertility ratio premature living age disability-adjusted life years 12 / 50 The United States government began to function in_______________? 1763 1788 1776 1781 13 / 50 To increase growth, governments should do all of the following except ? encourage foreigners to investment in your country nationalize major industries encourage saving and investment encourage research and development 14 / 50 Stratification occurs societies that have a____________? equality capitalistic system shortage of everything surplus 15 / 50 The ?feminization of poverty ? refers to________________? the fact that women are more blessed than men in spite of poverty an equal number of men and women being poor now the fact that female-headed households are usually poor the fact that most men are rich 16 / 50 Trade name is ? By which commodity service or process is known to trade All of them Under which a business firm operates Used to identify a commercial product or service 17 / 50 The law of diminishing returns assumes ? There are no variable factors of production Some factors of production are fixed There are no fixed factors of production Utility is maximised when marginal product falls 18 / 50 A welfare loss occurs in monopoly where ? The price is greater than the marginal revenue The price is greater than the marginal cost The price is greater than the average revenue The price is greater than the marginal benefit 19 / 50 Joining with foreign companies to produce or market products and services is called ? joint venturing indirect exporting licensing direct exporting 20 / 50 Which groups are hardest hit by the death of a spouse ? Women who derived their identity from being someone?s wife Women living in large cities those with small incomes and those who are fairly young all of the above The more elderly widowers 21 / 50 Psychology deals with_________________? only normal behavior only violent behavior mental states of individual humans groups of people in interaction 22 / 50 Quoted bid or highest price on inventor in willing to pay to buy a security is called ? Offer price Market price Bid price Quote price 23 / 50 Which type of forest covers the highest percentage of forest area in the world ? Temperate Coniferous forests Tropical Rain forests Temperate Deciduous forests Tropical Monsoon forests 24 / 50 What was the second chicken producing country ? China Indonesia Brazil United States 25 / 50 Metropolitan areas with a population of 1 million or more are called_______________? SMSAs (Standard Metropolitan Statistical Areas) MSAs (Micropolitan Statistical Areas) CMSAs (Consolidated Metropolitan Statistical Areas) CBSAs (Core Bases Statistical Areas) 26 / 50 The effective rate of protection ? shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms distinguishes between tariffs that are effective and those that are ineffective is the minimum level at Which a tariff becomes effective in limiting imports? shows how effective a tariff is in raising revenue for the government 27 / 50 Economic system in which the government owns and controls the means of production to benefit all the people is called ? Authoritarianism Capitalism Dictatorship Socialism 28 / 50 Kharif crops include ? All of them cotton & maze bajra & jawar rise & sugarcane 29 / 50 What is not a feature of the EU as a single market ? Elimination of border controls Each country can retain its own technical standards No import taxes on goods bought in another members country Common security arrangements 30 / 50 Labor skills are a major component of ? morbidity population quality mortality fertility 31 / 50 The record of country?s imports and exports of goods and services is called its ? balance of trade balance of payments on current account balance of payments. visible trade balance 32 / 50 National Arid-land Development and Research Institute (NADRI) is at ? Peshawar Faisalabad Islamabad Lahore 33 / 50 Meads work in New Guinea indicated that__________________? men are men and women are women everywhere all tribes in her study stressed male aggression and hostility sex role behavior is conditioned differently in different cultures biology totally controls social role behavior 34 / 50 Maturation for humans involves ? the development of instincts socialization physical development learning to be responsible 35 / 50 Which of the following firms has the least incentive to advertise ? a restaurant a manufacturer of home heating and air conditioning a manual fracture of breakfast cereal a wholesaler of crude oil 36 / 50 When marginal costs are below average total costs ? average total cost is falling average total cost is raising average total cost is minimized average fixed cost is rising 37 / 50 Term the authorization whether written or electronic, that shareholders? votes may be cast by others ? Remote vote Proxy vote Absentia vote Casting vote 38 / 50 Biodiversity ? includes genetic species ecosystem and functional diversities refers to biological effects on commercial plantation refers to diversifying earth?s nonrenewable resource refers to reconstruction of tropical rainforests 39 / 50 What growth rate was witnessed in agriculture sector last fiscal year ? 1.40% 1.90% 2.90% 2% 40 / 50 What is called the reduction in the rate of a currency Price cap Devaluation Devolution Cut-rate 41 / 50 The multiplier accelerator model assumes ____ depends on ______? investment expected future profits investment, interest rates consumption expected future profits stock building interest rates 42 / 50 Disguised unemployed is? when marginal revenue productivity of labor is zero the rigid factor proportions in LDC agriculture and industry due to capital formation and the level of technology remaining constant. the same as seasonal unemployment of LDC agricultural 43 / 50 The asset market approach views exchange rates as being determined mainly by ? efforts of investors to balance their portfolios among financial assets denominated in different currencies the relative growth rate of national output between countries the use of import tariffs and quotas by governments the current account balance of each country 44 / 50 Inflation means ? Rise in money supply Rise in general price index Reflection Rise in budget deficit 45 / 50 A _____ is a good offered either free or at low cost as an incentive to buy a product ? spiff premium price pack patronage reward 46 / 50 The term Mark-up refers to________________? Rise in the price of an item for sale An amount added to cost price in calculating selling price Both of them All of them 47 / 50 Intra-industry trade theory ? Assumes that transport costs are very low or do not exist Explains why the United States might export autos and import clothing Explains why the United States might export and import differentiated versions of the same product such as different types of autos ignores seasonal considerations for agricultural goods 48 / 50 The highest grade of coal whose surface is shining and has the highest calorific value is ? Bituminous Lignite Anthracite Peat 49 / 50 All of the following are potential advantages of an international joint venture except ? establishing work rules promoting higher labor productivity operating at diseconomy-of-scale output levels forestalling protectionism against imports sharing research and development cost among corporations 50 / 50 The ideology of ageism__________________? prevails only in the U.S asserts that the very young and the very old are inferior has little impact on the society applies only to the old Provide Your Information Your score is The average score is 0% LinkedIn Facebook Twitter 0% Restart quiz Send feedback Share on facebook Facebook Share on twitter Twitter Share on whatsapp WhatsApp PrevEconomics Quiz 18 Economics Quiz 20Next
