0% 0 Economics Quiz 38 1 / 50 The most self-sufficient group is________________? ones in-group the family the military society 2 / 50 What is known as ground black-cherry pits in the Middle East ? Bangna Cauda Falafal Mahlab Baba Ghanoush 3 / 50 Which of the following groups would be most harmed by a UK government budget deficit ? Lenders of loanable funds UK residents wishing to buy foreign Produced cars BAe Systems wishing to sell aircraft to Saudi Arabia Foreigners who wish to buy assets in the UK 4 / 50 An individual firm?s demand for a factor of production ? Slopes downward due to the factor?s diminishing marginal product slopes upward due to the factor?s increasing marginal product Slopes downward because an increase in the production of output reduces the price at which the output can be sold in a competitive market, thereby reducing the value of the marginal producing the value of the marginal product as more of the factor is use is perfectly elastic (horizontal) if the factor market is perfectly competitive 5 / 50 A model of Game theory of oligopoly is known as the ? Jury Box Prisoner?s Dilemma Monopoly Cell Jailhouses Sentences 6 / 50 If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman?s price elasticity of supply for fresh fish is ? unable to be determined form this information infinite one zero 7 / 50 Which of the following is a group ? spectators watching the construction of a building lines of people at a supermarket checkout counter softball players performing in a playoff tournament commuters riding a train 8 / 50 Which of the following are not third-world regions ? Latin America Africa Asia Australia 9 / 50 What is called a group of countries that have removed all tariffs, quotas, and export subsidies on trade among themselves ? Both of them Close-trade zone None of them Free trade zone 10 / 50 What is called amount of money to purchase the goods and services to maintain life ? None of these Basic requirement Cost of life Cost living 11 / 50 The labour force can be defined as ? Those who could claim benefit if they were to become unemployed. Those of working age who are seeking work and are available to for work at current wage rates. The population between school leaving age and retirement age. anyone who is working or actively seeking work 12 / 50 What was the third cattle producing country ? Argentina India China United States 13 / 50 When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n) ? tariff quota barrier embargo 14 / 50 Accusations of American labor unions against U.S multinational firms include all of the following except ? operating at output levels where scale economies occur enjoy unfair advantage in taxation export jobs by shifting technology overseas export jobs by shifting investment overseas 15 / 50 If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ? 1.15 1.5 none of these 1 16 / 50 A fall in demand for labour is likely to lead to ? A higher equilibrium wage and lower quantity of labour A lower equilibrium wage and lower quantity of labour A higher equilibrium wage and higher quantity of labour A lower equilibrium wage and higher quantity of labour 17 / 50 Bureaucracy and extensive social differentiation initially occur in the historical transition from_____________? pastoral to horticultural society horticultural to agricultural society hunting and gathering to pastoral society agricultural to industrial society 18 / 50 The Democrats lost the presidential elections in 1984 and 1988 because of______________? split ticket voting running the wrong candidates loss of direct contact with the electorate huge political gaffes 19 / 50 If oligopolists engage in collusion and successfully from a cartel, the market outcome is ? efficient because cooperation improves efficiency known as a Nash equilibrium the same as if it were served by competitive firms. the same as if it were served by a monopoly. 20 / 50 UK GDP would exclude which of the following ? The purchase of a new Nissan produced in Sunderland Lawyer services purchased by a home buyer A new art gallery purchased by the city of Newcastle Copper purchased by tap manufacturer Bristan 21 / 50 Which is the most important crop of the Nile delta ? Sugarcane Cotton Maize None of the above 22 / 50 What is called that legal process through which a company receives a charter and state in which it is based allows it to operate as corporation ? Chartered corporation Incorporation Going legal Book corporation 23 / 50 What models did the frames of the Constitution use for the office of the presidency ? Middle Eastern dynasties American Indian chiefdoms The European monarchs None 24 / 50 Which of the following is most likely to produce scientific evidence about a theory ? An economist permanently employed at a leading university analyzing the impact of bank regulations on lending to small businesses A radio talk show host collecting data from listeners on how capital markets respond to taxation An economist employed by the Trades union congress doing research on the impact of trade policy on workers? wages A lawyer employed by Renault addressing the impact of air bags on passenger safety. 25 / 50 Goods and monies from which future income can be derived is called ? Net assets Assets Capital Holdings 26 / 50 Which of the following is not capita good ? plant and equipment consumers goods inventories buildings 27 / 50 Max Weber intended his ?ideal type? of bureaucracy as an_______________? obviously false portrait of democratic administration explanation of elite domination idealized or exaggerated model of rational administration accurate description of existing bureaucracies 28 / 50 Central bank of Pakistan is ________________? National Bank Both of them State Bank None of them 29 / 50 _________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ? export-led growth absolute advantage import substitution comparative advantage 30 / 50 Assuming leisure is a normal good, if the income effect is greater than the substitution effect a wage increase ? will increase labour supply. will decreases labour supply could cause either an increases or a decrease in labour supply will have no effect on labour supply 31 / 50 The end of the Cold war_________________? All of the above raised new concerns about nuclear proliferation has shifted American policy toward cooperative internationalism created new possibilities for the world balance of power 32 / 50 A natural monopoly has a declining _______ over a large range of output? short run marginal cost long run marginal cost long run marginal cost long run average cost 33 / 50 The Cuban community in Miami is an example of______________? segregation assimilation accommodation acculturation 34 / 50 If the market price is below the equilibrium price ? quantity demanded will be greater than quantity supplied demand will be less than supply. quantity demanded will be less than quantity supplied quantity demanded will equal quantity supplied . 35 / 50 Prejudice diminishes as___________________? the majority becomes more oppressive the economic status of minorities declines assimilation occurs the economic status of minorities becomes equal to that of the majority 36 / 50 Which of the following is not an assumption of Schumpeter?s stationary state ? No entrepreneurial function is required An economy below full employment Perfect competition No savings or technical change 37 / 50 Bank loans are usually altered to have longer maturities in order to assist the borrower in making the necessary repayments. What these loans are called____________? Altered loans Rearranged loans None of these Rescheduled loans 38 / 50 The opportunity cost of growth is ? a reduction in current saving a reduction in current investment a reduction in current consumption a reduction in taxes 39 / 50 Taxes creates a wedge between the sales price and purchase price that prevents the price system equating ____ and ______? marginal cost, marginal revenue marginal costs, marginal benefits demand, supply marginal cost, average cost 40 / 50 Which of the following factors potentially increased the vulnerability to the 1997 Asian financial and currency crisis ? Symmetric informational in financial market technological transfer from DCs massive reverse outflows of capital trade account surplus 41 / 50 Micheal Roemer?s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors? growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ? I, II , III only IV I and III only I, II and III only II and III only 42 / 50 Every hypothesis must ? be based on scientific theory predict a causal relationship be general predict a relationship between two factors 43 / 50 The period of Rabi Season is _____ ? All of them October-June May-Aug October-May 44 / 50 In defining social sciences which of the following phrases is the most appropriate? social philosophy rules for behavior systematic and methodical study study of individual behavior 45 / 50 The stage is the product life cycle that focuses on expanding market and creating product awareness and trails is the ? decline stage growth stage maturity stage introduction stage 46 / 50 Foreign aid________________? None of the above has been used as an instrument of foreign policy by the U.S should be abolished until poverty is eliminated is our own society is what ultimately overthrowing communism 47 / 50 In the equation C = a + bY, which describes the aggregate consumption function ?b? stands for ? The average consumption level The amount of consumption when income is zero The marginal propensity to consume. The amount of income when consumption is zero 48 / 50 What is called an arrangement of workers machines, and equipment in which the product being assembled passes consecutively from operation to operation or the process in which finished products are turned out in a mechanically efficient, though impersonal, manner ? None of them Production line Assembly line Both of them 49 / 50 What is the Phillips curve ? a deflationary curve a graphic representation of conflict between full employment and inflation a special kind of screw driver that reflects the functioning of the economy a reference to a government economist favoring high taxes 50 / 50 When the public perceives that the government has failed the state may be said to be undergoing________________? revolution a crisis of confidence a crisis of legitimacy involution 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 37 Economics Quiz 39Next
