0% 0 Economics Quiz 3 1 / 50 ocial change must be analyzed in terms of________________? backward and forward progress statics and dynamics if it is good for the people stability and efficiency 2 / 50 The goal of integrated pest management (IPT) is to? have year-round plantings of a single crop reduce yield losses by pests while minimizing the negative effects of pest control encompass biological control through fertilizers undertake monoculture pest planning 3 / 50 _______ is quoted as saying that everyone lives by selling something? Robert Louis Stevenson Arthur Miller Bill Gates Henry Ford 4 / 50 The shorter the ______ pass through period the ______ the desirable BOT effects of evaluation on quantities traded will appear ? sooner smaller bigger longer 5 / 50 Which example of market expectations causes the dollar to appreciate against the yen? expectations that the U.S economy will have ? faster economic growth than Japan more rapid money supply growth than japan higher future interest rates than Japan higher inflation rates than japan 6 / 50 Organization differ from institutions in that________________? only a few organizations last long enough to become institutions one cannot join an institution all of the above institutions are organizations in which people no longer discuss the basis of the rules 7 / 50 Those who hold the classical view of the labor market are likely to believe that ? neither monetary nor fiscal policy will have an effect on output and employment both monetary and fiscal policy will have an effect on output and employment Fiscal, but not monetary policy will have an effect on output and employment monetary but not fiscal policy will have an effect on output and employment 8 / 50 Which of the following must be true about a signal that is used to reveal private information in order for the signal to be effective ? It must be free to the signaling party It must be costly to the signaling party but less costly to the party with higher-quality product It must be ?as seen on TV? It must be applied to an inexpensive product 9 / 50 The hypothesis is a statement of_____________? the scientist?s conclusions disagreement with a generally accepted theory a tentative statement of a topic that is subject to testing a universal truth 10 / 50 What is Demand note ? Security payable in lawful money upon demand Cheque payable in lawful money upon demand Draft payable in lawful money upon demand Term deposit payable in lawful money upon demand 11 / 50 A sudden shift from import tariffs to free trade may induce short-term unemployment in ? Industries that sell domestically as well as export industries that neither import nor export Import-competing industries Industries that are only exporters 12 / 50 Which country produced the second most rubber ? Malaysia India Indonesia Thailand 13 / 50 The Benazir Benefit income Scheme is a good example of ? a benefit in kind. a universal (social insurance based) benefit none of the above a means tested cash benefit 14 / 50 Refer to Exhibit 4. If there is no tax placed on the product in this market total surplus is the area ? B + C + E + F A + B + C + D E + F A + B + C + D + E + F 15 / 50 All systems of stratification display the following characteristics except_________________? segmentation ranking differentiation institutionalization 16 / 50 If a Big Mac hamburger sells for the same dollar value in New York as in London then ? purchasing power parity holds the exchange rates are said to be fixed pegged to each other the inflation rate in each country will necessarily equal 1 percent the inflation rate in each country will necessarily equal zero 17 / 50 It is fairly certain that male and female brains________________? differ in size weight and capacity are functionally identical differ in left-right communication distribute sensory functions differently 18 / 50 Public goods are difficult for a private market to provide due to ? the Tragedy of the Commons. The free-rider problem. the rivalness problem the public goods problem 19 / 50 -7-+47-+45-+-+Since people respond to incentives, we would expect that if the average salary of accountants increases by 50% while the average salary of teachers increase by 20% then ? fewer students will take degree courses in education and more will take accounting courses fewer students will attend university None of these Fewer students will take degree courses in education and more will take accounting courses. 20 / 50 By restricting labor supply a trade union can _____ and _______? maintain the wage, increase employment increase the wage, lower employment maintain the wage, lower employment increase the wage, increase employment 21 / 50 In monopolistic competition firms profit maximize where ? Marginal revenue = Total cost Marginal revenue = Marginal cost Marginal revenue = Average revenue Marginal revenue = Average cost 22 / 50 The failure of rising expectations is related to______________? a general rise in the standard of living for all segments of society false advertising and credit expansion a rapid decline in the standard of living dissatisfaction based on relative deprivation 23 / 50 Male dominance is expressed_____________________? in spite of ours being an egalitarian society all of the above by the frequent instances of sexual harassment on the job for the lack of wage parity 24 / 50 The result of antidumping tariffs is to ? impose a price floor on foreign prices in the importing country impose a price ceiling on foreign price in the importing country increase consumer surplus in the importing country decrease producer surplus in the importing country 25 / 50 When a new nation is formed ? people must acknowledge a common history and a sense of a common future a ?we are feeling must emerge among people older tribal loyalties must be abandoned all of these 26 / 50 When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________? substitutes complements nromal inferior 27 / 50 ?The largest group of people inhabiting a specific territory and sharing a common culture?is a definition of a_____________? state society nation government 28 / 50 Which trade theory contends that a country that initially develops and exports a new product may eventually become an importer of it and may no longer manufacture the product ? Theory of overlapping demands Product life cycle theory Theory of factor endowments Economies of scale theory 29 / 50 Who really owns the corporation? the_________________? stockholders Government founders banks 30 / 50 In the short run unemployment may fall below the natural rate of unemployment if ? Nominal wages have risen less than unemployment Nominal wages have risen more than inflation Nominal wages have risen less than inflation Nominal wages have risen at the same rate as inflation 31 / 50 The Indus Water Treaty was mediated by ? World Bank Britain IMF USA 32 / 50 In the absence of trade, Canada?s equilibrium price and quantity equal ? $65 and 40 calculators $55 and 20 calculators $30 and 40 calculators $45 and 25 calculators 33 / 50 The stages of the demographic transition model are_________________? high births high death rates all of the above low birth rates low death rates low death rates high birthrates 34 / 50 The openly unemployed in LDCs are usually from all of the following except ? residents of urban areas from the poorest 1/5 of the population the educated persons 15 to 24 years old 35 / 50 Industrial societies are based on____________? kinship smokestacks primary ties machines for production 36 / 50 If marginal costs equal average total costs ? average total cost is maximized average total cost is minimized average total cost is falling average total cost is raising 37 / 50 For the first time since World War I, in the mid-1980s the United States became a net international ? importer creditor debtor exporter 38 / 50 Total ?laissez-faire? is impossible because________________? all of the above the market does not provide for satisfying public needs the market makes no provision for protecting smaller participants the market is not equitable favoring those with more resources 39 / 50 Power is legitimate if_________________? a majority of societal members accept its use as right and proper it has been transmitted in a traditional way it is rational it is enforced on members of society 40 / 50 A comparison of Japan?s policies before 1945 with the policies in effect after 1945 indicates that______________? territorial aggression is not necessary to secure national economic goals democratic institution hinder economic growth dependence on foreign trade usually leads to a weakened national economy reduction in spending on military goods leads to economic depression 41 / 50 Which is an example of a pivotal social institution ? A jail A symphony orchestra A rock bands The economy 42 / 50 perfect international capital mobility suggests that international funds will be responsive to ________ differentials? interest rate current account tax price 43 / 50 There is no conclusive evidence that differences in the behavior of the two genders are due to______________? anatomical differences hormonal differences chromosomal differences all of the above 44 / 50 Labor productivity is higher in DCs such as Japan and Germany than LDCs due to ? None of the above is correct Both a and b are correct high formal education and training better health and physical condition of the labor force 45 / 50 Term a country?s decision to tie the value of its currency to another country?s currency gold or a basket of currencies ? Knotted exchange rate Relative exchange rate Fixed exchange rate Pagged exchanged rate 46 / 50 The substitution effect of a rise in the price of labour will ____ the quantity of labour and the output, effect will ____ it reduce; reduce reduce; increase increase; increase increase; reduce 47 / 50 Two countries can gain from foreign trade if ? Cost ratios are different Price ratios are different A and C of above Tariff rates are different 48 / 50 In evaluating messages for advertising telling how the product is better than the competing brands aims at making the ad ? remembered distinctive believable meaningful 49 / 50 Which of the following countries is the leading producer of rice in the world ? Australia Cuba China Argentina 50 / 50 Urban families everywhere in the world_________________? voluntarily curb their fertility follow the dictates of religion and culture willingly accept governmental family planning have attained zero population growth 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 2 Economics Quiz 4Next
