0% 0 Economics Quiz 45 1 / 50 Governments can stimulate productivity by ? Imposing higher taxes on capital encouraging more labour intensive work to reduce unemployment encouraging private investment reducing spending in education 2 / 50 ?Forex? stands for ? Foreign exports For examine Foreign exchange None of these 3 / 50 No- fault divorce has_______________? left alimony awards intact increased child support requirements increased both alimony and child support awards for the first few year after divorce all but eliminated alimony and somewhat decreased the average child support award 4 / 50 Government based on the rule of either the landed gentry the educated and privileged or the hereditary nobility is called_______________? oligarchy democracy aristocracy republicanism 5 / 50 Historically nations are impacted by_______________? change in the distribution of power BOTH fluctuations in the distribution of power and technological progress technological progress climactic changes from the ice age to global heating 6 / 50 In a recession ? Unemployment is likely to be low Growth is negative Growth is slow Prices are likely to increase 7 / 50 Which statement best explains China?s economic shift towards capitalism in the 1980s and early 1990s ? communist economic policies were not meeting the needs of the society The Tiananmen Square massacre resulted in Major economic reforms in China China?s economic policies were directly influenced by the success of the Soviet economic System The success of the Cultural Revolution resulted in the increased westernization of china 8 / 50 Free trade is based on the principle of ? Production possibility advantage Comparative advantage Economies of advantage Comparative scale 9 / 50 Deviance is relative because ____________? psychologists prefer the term ?abnormality? moralists prefer the term ?immorality? the definition of social norms varies by culture and subculture no two people agree what deviance is 10 / 50 What is the share of population under 15 in the total population ? 46% 50% 52% 49% 11 / 50 Which of the following is true ? If the marginal cost is negative total costs increase at a decreasing rate if output increases If the marginal cost is greater than the average cost the average cost increase If the marginal cost is positive total costs are miximised If the marginal cost is greater than the average cost the average cost falls 12 / 50 The impossibility of negative gross investment provides a ______ to fluctuation in ______? ceiling, capital prices ceiling, stock building floor, the capital-output ratio floor, output 13 / 50 What is one difference between Freuds developmental stages and Erikson?s ? Freud only worked with males Freud stopped at adolescence Freud saw conflicts with parents as predominant Freud thought all conflicts were conscious 14 / 50 Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce ? at the efficient scale and charge a price equal to marginal cost With excess capacity and charge a price equal to marginal cost at the efficient scale and charge a price above marginal cost With excess capacity and charge a price above marginal cost 15 / 50 When did Pakistan launched its first space satellite Badr I largely designed and fabricated by SUPARCO ? 16-Jul-90 12-Sep-92 10-Aug-91 16-Oct-89 16 / 50 The nation with the longest political campaign period is_______________? Italy England all nations take the same time to campaign the United States 17 / 50 The course of a product?s sales and profits over its lifetime is called ? the product life cycle the dynamic growth curve the sales chart the adoption cycle 18 / 50 Economists suggest that an optimum tariff would be one which reduce imports to a point where___________? import prices are the same as export prices marginal social cost equals marginal social benefit Price elasticity of imports is unity and tariff revenue is maximized Comparative advantage is achieved 19 / 50 De-regulation is where the government ? breaks up private sector monopolies. removes barriers to entry removes barriers to entry and minimum product quality standards imposes higher standards of conduct 20 / 50 Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing engages in tying the two products its best strategy is to charge a combined price of ? Rs 90 Rs 75 Rs 60 Rs 85 21 / 50 If a firm takes over a competitor then, according to porter?s 5 forces model ? Supplier power is higher Rivalry is lower Buyer power is higher Substitute threat is higher 22 / 50 Given a two-country world, suppose Japan devalues the yen by 20 percent and west German devalues the mark by 15 percent This result is a (an)? appreciation in the value of the yen against the mark appreciation in the value of both currencies depreciation in the value of the yen against the mark depreciation in the value of both currencies 23 / 50 What is called the trade of goods or services without the exchange of money ? Free exchange Barter Liberal Exchange Bilateral Trade 24 / 50 The trade model of the Swedish economies Heckscher and Ohlin maintains that ? Absolute advantage determines the distribution of the gains from trade The division of labor is limited by the size of the world market A country exports goods for which its resource endowments are most suited Comparative advantage determines the distribution of the gains from trade 25 / 50 Zero population growth_________________? is actively pursued by many of the underdeveloped nations means that no more children are born indicates that the fertility rate has dropped below the replacement level must be achieved by all nations by the year 2005 26 / 50 When the period of Kharif crop starts and when ends ? October-May June-September Jan-October May-October 27 / 50 What is called the manipulation of the market by traders to create the illusion of active volume to attract investors ? Daisy chain Manipulated market Illusion False market 28 / 50 Which of the following characteristics are most likely found in developing countries ? All of the above very traditional methods of agricultural production large number of people living in poverty high population growth rates 29 / 50 A country that is a net international debtor initially experiences a (an) ? higher interest rate which leads to lower domestic investment loss of funds to trading partners overseas decrease in its services exports to other countries larger savings pool available to finance domestic spending 30 / 50 The differences in behavior between men and women______________? are due strictly to biology are due strictly to culture are due both to biology and culture are the product of totalitarian governments? 31 / 50 Capitalisms roots can be found in_________________? machine-based production feudal agriculture dialectic materialism Christianity 32 / 50 The ratio of Industrial progress in the country is ? 5.40% 4.30% 6.20% 8.60% 33 / 50 An allocation is Pareto-efficient if no reallocation of resources would make some people _______ without making others ________? better off; better off equal, unequal better off; worse off worse off; worse off 34 / 50 Term the central market for buying and selling all kind of securities ? A big company Joint stock Stock Exchange A multinational company 35 / 50 The rational-expectation hypothesis suggests that the forecasts that people make concerning future inflation rates ? are correct on average, but are subject to errors that are distributed randomly consistently overestimate the actual rate of inflation in the future. consistently underestimate the actual rate of inflation in the future are always correct 36 / 50 The situation when a country imports more than it exports is ? an expansion. a trade deficit a recession a trade surplus 37 / 50 If both input and output markets are competitive and firms are profit maximizing, then in equilibrium each factor of production earns ? the amount allocated by the political process the value of its marginal product an amount equal to the price of output times total output an equal share of output 38 / 50 The political organization that may have too much influence on elected officials because of its generous contribution is the________________? Democratic Club Republican Club Political Action Committee Rules Committee 39 / 50 The first level of output at which the long run average cost are minimized is called ? The Minimum Efficient Scale The Maximum Effective Scale The Minimum External Scale The Maximum External Scale 40 / 50 The production possibilities frontier refers to_______________? none of the above limitless output of commodities unlimited production of one commodity the amount of each commodity that can be produced given available resources 41 / 50 Which nation state has reached zero population growth ? the United States Iran Zimbabwe Turkey 42 / 50 The practice of U.S corporations? moving?s their production facilities abroad is called________________? diversification insourcing multinationalism Oligopoly 43 / 50 An increase in the government budget deficit ? decreases the real interest rate and crowds out investment Increases the real interest rate and crowds out investment has no impact on the real interest rate and fails to crowed out investment None of these answers 44 / 50 According to the labeling theory which of the following concepts explains why a labeled individual becomes deviant ? Rebellion Ethnocentrism Self-fulfilling prophecy Resocialization 45 / 50 In perfect competition ? Products are heavily differentiated Consumer have limited information The products firm offer is very similar A few firms dominate the market 46 / 50 When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ? the efficient level of output less than the efficient level of output so that consumer surplus is zero more than the efficient level of output 47 / 50 If export contracts are written in terms of foreign currency and import contracts are denominated in domestic currency a depreciation of the dollar during the currency contract period ? must increase the balance of trade All of the above should increase the dollar value of exports should not have any effect on the dollar value of U.S imports 48 / 50 In marketing ?USP? stands for ? Unique Selling Proposition Under Sales Procedure Unit Sales Point Underlying Sales Proposition 49 / 50 The majority of the human population lives in________________? Pacific Islands Eurasia Africa New York 50 / 50 In the metaphor of the ?looking-glass self ?the looking glass represents ? the expressed judgment of one,s peers the persons self-feeling such as pride the imagined judgments of others all of the above 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 44 Economics Quiz 46Next
