0% 0 Economics Quiz 23 1 / 50 By ?dependent relations? globalists mean_______________? Third-World countries are maintained in a state of dependency by First-and Second- World nations industrial nations depend upon raw materials located in no-industrial nations the legitimacy of nation -states depends upon propaganda and internal surveillance the effectiveness of the United Nations depends upon a cohesive Security Council 2 / 50 Political control_____________? is internalized cultural learning is social control exerted by forces outside the individual takes the place of moral control in simple societies is acquired through socialization 3 / 50 Galbraith?s idea that firms are controlled by a technostructure supports _________ theories? Williamson?s classical economic monetarist Marxist 4 / 50 Which factor contributes most to the recurring food shortages in Africa ? rainforest environment extensive river systems Poor distribution of agricultural products location between two major oceans 5 / 50 Child abuse___________________? only A B and C has a victimization rate of 12.3 per 1,000 children refers to a wide range of maltreatment includes physical and emotional neglect 6 / 50 The nuclear family form is also called________________? procreational extended conjugal consanguine 7 / 50 What is gross domestic product (GDP) ? income earned within a country?s boundaries the number of dollars earned in industry goods received from the nation?s residents income earned through foreign exchange 8 / 50 Who is a ?Lame Duck? in a stock market ? A member of the stock exchange who cannot meet his obligations A old investor None of the above A new investor 9 / 50 The first airplane was a (n)________________? diffusion invention miracle discovery 10 / 50 Import substitution is an example of ? the principle of comparative advantage an inward-looking growth strategy an outward-looking growth strategy the principle of absolute advantage 11 / 50 Which of the following firms is most likely to spend a large percentage of their revenue on advertising ? a perfect competitor the producer of a highly differentiated consumer product the manufacturer of an undifferentiated consumer commodity The manufacturer of an industrial product 12 / 50 It is difficult to determine if the velocity of money is constant over time because ? it is difficult to measure the demand for money over time there has been very little fluctuation in the money supply over time. whether velocity is constant or not may depend on how the money supply is measure. it is difficult to measure the value of nominal GDP over time 13 / 50 Demand curves are derived while holding constant ? tastes and the price of other goods income and tastes income, tastes, and the price of the good. incomes, tastes, and the price of other goods. 14 / 50 If imports licenses are auctioned off to domestic importers in competitive market their scarcity value (revenue effect) accrues to ? The domestic government foreign corporations foreign workers domestic corporations 15 / 50 Reducing involuntary unemployment ? Helps the economy move along its Production Possibility Frontier Helps the economy move on the to Production Possibility Frontier Helps shift the economy?s Production Possibility Frontier outwards Helps the economy move inside the Production Possibility Frontier 16 / 50 Less demand in the economy may increase unemployment; this may lead to less spending which may reduce demand further. This is called ? The downward mpc The upward PPF The downward multiplier The upward accelerator 17 / 50 Refer to Exhibit 6. Suppose the economy is Operating in long-run equilibrium at point E. An unexpected monetary contraction will move the economy in the direction of point ? E F H c 18 / 50 I = S + F The equation above states that a country can increase its new capital formation (or investment) through is ? savings from abroad and financial outflow savings and financial liberalization own domestic savings and by inflows of capital from abroad stock market and fiscal policy 19 / 50 When economists say that people act rationally in their self interest, they mean that individuals _______? are unpredictable generally disregard the interests of others are mainly creatures of habit look for and pursue opportunities to increase their utility 20 / 50 During the post-world War II era? NTBs have increased and tariffs have decreased in relative importance NTBs have decreased and tariffs have increased in relative importance Nontariff barriers (NTBs) and tariffs have increased in relative importance NTBs and tariffs have decreased in relative importance 21 / 50 Which of the following expenditures to enhance productivity is most likely to emit a positive externality ? Naila pays her university tuition fees. OGDC leases a new oil field Megabank buys a new computer Indus Motors buys a new drill press 22 / 50 National Income is essentially composed of ? Annual Income of the central government Income derived from taxes by the central government All income of the people on a year All wealth of a nation 23 / 50 Coffee requires hot and moist climate and grows best on slopes which of the following countries is leading in coffee production? Indonesia None of these Brazil India 24 / 50 The total land area of Baluchistan is 34.7 mha (or 85.74 million acres), out of which only ____ are cultivated? 24 % or 5.4 mha 14 % or 3.4 mha 54 % or 11.4 mha 34 % or 7.4 mha 25 / 50 A mixed economy ? Has market forces and government intervention Has supply but not demand Has supply and demand Has demand but not supply 26 / 50 Policies to reduce unemployment by reducing union power, tax cuts, reductions in unemployment benefit and investment subsidies are examples of ? Supply-side policies Keynesian policies Monetarist Policies Classical policies 27 / 50 Cooley?s Lookingglass self refers to______________________? positive self-image self-regard based on instinct a person?s perception as to what others think of him/her negative self-image 28 / 50 Which economics term describes the takeover of one textile manufactures by another ? Diversification horizontal integration vertical integration monopoly 29 / 50 The law of demand implies that ? as prices fall demand increases as prices fall, quantity demanded increase as prices rise, demand decrease as prices rise, quantity demanded increases 30 / 50 Descriptive statistics_______________? permit researchers to generalize from samples convey information about atypical behavior allow researchers to test hypotheses convey information about central tendency 31 / 50 The response lag of stabilization policy represents ? the time that it takes for policy makers to recognize the existence of boom of bust the time that it takes for the economy to adjust to the new conditions after a new policy has been implemented the time that is necessary to put the desired policy into effect the time needed for parliament to agree to a tax cut. 32 / 50 Which of the following is true regarding tradable pollution permits and Pigouvian taxes ? All of these answers are true To set the quantity of pollution with tradable pollution permits, the regulator must know everything about the demand for pollution rights. Tradable pollution permits efficiently reduce pollution only if they are initially distributed to the firms that can regulator pollution at the lowest cost. Pigouvian taxes and tradable pollution permits create an efficient market for pollution. 33 / 50 Which is the second largest staple food crop in Pakistan ? Wheat rice Wheat & flour flour 34 / 50 Which of the following countries is known as sugar bowl ? Argentina USA China Cuba 35 / 50 Nearly _______ of land is cultivated through tube-wells ponds and rain water? 35% 25% 15% 55% 36 / 50 The behavior of an individual firm is part of_______________? macroeconomics macroeconomics institutional economics macroeconomics 37 / 50 Language____________? helps humans to cooperate reflects changes in society all of the above passes on knowledge from generation to generation 38 / 50 Publics and public opinion________________? are more characteristic of complex societies than of simple ones express the values of leaders of society are more frequent in totalitarian societies than in democratic ones have special meanings in traditional societies where conflicting issues are common 39 / 50 How is termed the legal proceeding in which debtor remains unable to pay his creditors in full ? Default Crash Bankruptcy Total loss 40 / 50 Which of the following is NOT one of the problems facing most developing nations ? Foreign debt Rapid population growth Food shortages Labor shortages 41 / 50 Which of the following is not a barrier to entry in a monopolized market ? A single firm is very large The government gives a single firm the exclusive right to produce some good The costs of production make a single producer more efficient than a large number of productions A key resource is owned by a single firm 42 / 50 The ?New Class? is characterized as consisting of______________? the working poor apolitical bureaucrats professionals with skills important in the information society former members of the middle class 43 / 50 In the context of contracts, what refers to secret payments made to ensure that the contract goes to a specific firm ? Bribe Commission kickback Graft 44 / 50 Traditionally companies have defined their business in product terms or in technological terms however mission statements should be all of the following EXCEPT ? based on distinctive competencies market oriented motivating a statement of religion 45 / 50 Which term is used for an engagement in risky business with the idea of making a large profit in short time ? Risk covering Blind game Speculation Idealism 46 / 50 The transitional period between the dominance of one party or another is called_______________? derailment dealignment realignment alignment 47 / 50 Evidence suggests that the price elasticity of demand for motoring is ? Elastic absolutely inelastic inelastic Unitarily elastic 48 / 50 International difference is opportunity costs lead to countries acquiring ? High exchange rates trade barriers Comparative advantage trade quotas 49 / 50 Which of the following is a problem for fiscal policy in a currency union ? government of the member countries of the currency union may run large budget deficits and so impose costs on other countries by pushing up interest rates on the bonds these countries governments issue It is difficult to raise enough tax revenue to pay for the operation of the currency union The central bank controls interest rates on long-term bonds issued by the governments of the member countries of the currency union Government of the member countries of the currency union may run large budget deficit and so crowd out private investment 50 / 50 Which of the following is an example of tragedy of commons ? over fishing smoking in a public place common use of public toilets excessive rain 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 22 Economics Quiz 24Next
