0% 0 Economics Quiz 5 1 / 50 Durkheim was one of the first scientific sociologists who studied______________? mental illness sex all of the above suicide 2 / 50 Which is NOT a new alternative to the traditional family ? Single-parent family Reconstituted family Extended family Blended family 3 / 50 Antarctica is occupied by several nations together because no one nations has________________? the power to take it over the desire to rule it sovereignty over it interest in its resources 4 / 50 The price elasticity of demand is the ? ratio of the percentage change in quantity demanded to the percentage change in price. ratio of the change in quantity demanded to the change in price. ratio of the change in price to the change in quantity demanded. ratio of the percentage change in price to the percentage change in quantity demanded. 5 / 50 _______ beliefs values are open to some degree of change ? Primary Secondary Crucial Core 6 / 50 The realist school of international relations defines war and security as_____________? statecraft brinkmanship low politics high politics 7 / 50 What is called a country?s total financial obligations to the rest of the world ? External debt National liabilities Debt burden Total debt 8 / 50 Discriminatory behavior prompted by the knowledge that prejudice exists on a society wide level is called______________? institutional discrimination attitudinal discrimination cultural discrimination personal discrimination 9 / 50 As prices rise. People will want to keep more money as cash and in bank accounts This is called ? cash ratio. money illusion. real balance effect. menu costs of inflation. 10 / 50 The use of the word ?monopoly? in the name of the market structure called ?monopolistic competition? refers to the fact that ? monopolistically competitive markets have free entry and exit just like a monopolistic market monopolistically competitive firms charge prices equal to their marginal costs just like monopolists monopolistically competitive firms produce beyond their efficient scale and so do monopolists a monopolistically competitive firms faces a downward-sloping demand curve for its differentiated product and so does a monopolist 11 / 50 An externality is ? the cost that accrues to the seller in a market the benefit that accrues to the buyer in a market The uncompensated impact of one person?s actions on the well-being of a bystander none of these answers 12 / 50 Term the sole legal right to print or publish anything that belongs to the author ? Sole right rights property right Copyright 13 / 50 Charismatic leaders_______________? appear only in traditional societies are only characteristic of theocracies establish a stable social organization may appear in societies with either a traditional or a legal-rational base of authority 14 / 50 Labour Productivity measures ? Marginal output Total output The output per worker The output per machine 15 / 50 Congestion pollution urban decay and similar side effects of the market system are termed_____________? negatives internalities externalities tangentials 16 / 50 The supply of foreign currency tends to be ? upward sloping any of the above downward sloping vertical 17 / 50 Profit-maximizing firms want to maximize the difference between ? total revenue and marginal cost marginal revenue and marginal cost. total revenue and total cost marginal revenue and average cost 18 / 50 Given the foreign currency market for the Swiss franc, the supply of franc slopes upward, because as the dollar price of the franc rises ? Switzerland?s demand for American merchandise rises America?s demand for Swiss merchandise falls Switzerland?s demand for American merchandise falls America?s demand for Swiss merchandise rises 19 / 50 Suppose there is no tariff on imported inputs and the ratio of the value of imported inputs the value of the final product is 0.5 If the nominal tariff rate on the final product is 10 percent, the effective tariff rate equals ? 5 percent 10 percent 20 percent 15 percent 20 / 50 An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world?s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite? relatively small; more difficult relatively large; easier relatively large; more difficult relatively small; easier 21 / 50 Tariff levels in advanced countries tend to be __________ tariff levels in developing countries? equal to there is no general pattern lower than higher than 22 / 50 Which of the following products is least likely to be sold in a monopolistically competitive market ? video games breakfast beer cotton 23 / 50 If government spending exceeds tax collections? private saving is positive there is a budget deficit None of these answers There is a budget surplus 24 / 50 If goods are exported for less than society?s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from? an export subsidy a quota comparative advantage an import subsidy 25 / 50 The movement to free international trade is most likely to generate short-term unemployment in which industries ? Industries that sell to domestic and foreign buyers Industries that sell to only foreign buyers Industries in which there are neither imports nor exports Imports competing industries 26 / 50 The invisibly underemployed ? are part-time workers who voluntarily work short hours None of the above is correct result from an inadequate use of workers capacities are workers who are compelled to work short hours 27 / 50 Which of the following would be considered a supply-side policy ? Restrictions placed on the amount that can be imported. investment tax credits for businesses to encourage investment An increase in the minimum wage that would cause consumer spending to increase An increase in government spending that would lead to increased aggregate demand 28 / 50 When farms are destroyed in favor of factories and suburbs it is an example of_____________? urbanization secularization popularization none of these 29 / 50 In pure monopoly, what is the relation between the price and the marginal revenue ? they are equal there is no relation the price is less than the marginal revenue the price is greater than the marginal revenue 30 / 50 Starting from a balanced budget, for a given tax rate, an increasing in income will cause the government budget to ? None of the above above move into deficit move into surplus remain unchanged 31 / 50 In Western Europe in 9th C, originated military and social system in which a nobleman would grant the use of land to servant in return for service which is often military, and duty, Name the system ? Land based system Feudal system Military system Rural system 32 / 50 Pakistan is the _____largest tobacco Producer country in the world? Fifth Sixth Seventh Eight 33 / 50 Short run average total costs are equals to the sum of ____ and _____? Short run average variable costs, profit run average fixed costs Short run variable costs, profit Short run average variable costs, profit Short run opportunity costs, profit 34 / 50 Which function is performed by both commercial banks and central banks ? Acting as bankers to the government Fixing the main interest rate Advising the government on monetary policy Dealing in foreign exchange 35 / 50 If consumers think that there are very few substitutes for a good, then ? Supply would tend to be price elastic none of these answers demand would tend to be price inelastic demand would tend to be price elastic 36 / 50 If The Central bank tries to keep the interest rate constant when the economy is operating on the steep part of the AS curve, _________ will occur? stagflation a recession a hyperinflation a depression 37 / 50 Due to Japan?s high saving rate, suppose that the Japanese invest abroad. This investment may result in a/an _______ of the Japanese yen and therefore a for Japan? appreciation; trade surplus appreciation; trade deficit depreciation; trade surplus depreciation; trade deficit 38 / 50 Which of the following is not a problem in comparing developed and developing countries GNP ? GNP in understated for developing countries since many of their labor intensive good have no impact on exchange rate since they are not traded GNP is overstated for for countries where the price of foreign exchange is less than market clearing price GNP is understated for developed countries, since a number of items included in their national incomes are intermediate goods The economic contribution of a housewife is a peasant family may not be measured is GNP is poor country 39 / 50 Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies? multilateral contract commercial dumping export promotion import substitution 40 / 50 The social class(es) least interested in church participation is (are)the_____________? lower-middle class upper and lower classes upper-lower class none of the above 41 / 50 The fall in value of one currency relative to another is ? a floating of a currency a depreciation of a currency a strengthening of a currency an appreciation of a currency 42 / 50 If the public consumes Rs 100 billion less and the government purchases Rs100 billion more (other things unchanging), Which of the following statement is true ? Saving is unchanged There is an increased in saving and the economy should grow more quickly There is not enough information to determine what will happen to saving There is a decrease in saving and the economy should grow more slowly 43 / 50 Which country is the biggest producer of wool in the world ? Pakistan Russia Australia USA 44 / 50 The prisoners Dilemma Game demonstrates that ? monopoly is better than competition people will always cheat players are better off if they co-operate players are better of to act independently 45 / 50 If demand is linear (a straight line) then price elasticity of demand is ? inelastic throughout inelastic in the upper portion and elastic in the lower portion elastic in the upper portion and inelastic in the lower portion constant along the demand curve 46 / 50 Socialism and communism both call for________________? totalitarian government and dictatorship of the proletariat government controlling parts of the economy for the common good abolition of private property revolutionary change 47 / 50 Which example of market expectations causes the dollar to depreciate against the yen ? expectation that the U.S economy will have ? more rapid money supply growth than Japan higher future interest rates than Japan lower inflation rates than Japan faster growth than Japan 48 / 50 Given a system of floating exchange rates falling income in the United States would trigger a (an) ? decrease in the demand for imports and a decrease in the demand for foreign currency decrease in the demand for imports and an increase in the demand for foreign currency increase in the demand for imports and a decrease in the demand for foreign currency increase in the demand for imports and an increase in the demand for foreign currency 49 / 50 Name the company in which the liability of the shareholders is limited to the amount of their shares ? Limited company Corporation Cooperative Incorporation 50 / 50 If the minimum wage is set above the equilibrium wage rate, then another thing unchanged ? There will be equilibrium in the labour market There will be excess supply in the labour market There will excess demand in the labour market More people will be employed 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 4 Economics Quiz 6Next
