0% 0 Economics Quiz 53 1 / 50 Credit risk refers to a bond?s ? tax treatment dividend Price-earnings ratio Probability of default 2 / 50 Most population experts_______________? expect the growth rate to remain constant have written off the Malthusian prophecy altogether expect population to level off at between 8 and 15 billion people believe that a high fertility rate continues to be necessary in the developing nations 3 / 50 The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar because in both market structures ? firms realize all economies of scale firms will only earn a normal profit firms will be producing at minimum average cost the efficient output level will be produced in the long run 4 / 50 Cultural universals include ? food taboos all of the above music personal adornment 5 / 50 Social scientists________________? have no interest in the content of religious doctrines all of the above neither accept nor reject claims of divine revelation provide criteria for choosing a valid religion 6 / 50 Latent functions of government include_______________? public education health care the rise of administrative elites war 7 / 50 The presidents most important role is as_______________? ceremonial representative of the U.S foreign policy maker administrator legislator 8 / 50 What is Euro ? Both of them None of them Deposit outside one?s home country but in the home country currency European currency unit, introduced on Jan, 1 1999 9 / 50 Net investment is___________________? None of the above Gross investment minus capital consumption allowance Gross investment minus govt. Investment Gross investment minus household investment 10 / 50 Coffee requires hot and moist climate and grows best on slopes which of the following countries is leading in coffee production ? Indonesia Brazil India None of these 11 / 50 ___________ are quotas that lead to a complete abolishment of trade? embargoes voluntary export restraints orderly marketing agreements nontariff barriers 12 / 50 Name the country which has the largest natural gas reserves in the world ? India Russia Italy Canada 13 / 50 If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ? The higher price in market B The higher price in market A Cannot tell which price will be higher The same Price in both markets 14 / 50 It is true of science that_______________? its content is more important than its method it is not concerned with the method of acquiring knowledge it is body of knowledge organized in a logical manner id does not include the method of investigation 15 / 50 Banks create money by ? issuing debit cards lending out part of their deposits accepting cheques printing it 16 / 50 Agriculture in industrial nations is now based on_________________? artificial food production increase in rural population many small farmers greater productivity of farms because of mechanization 17 / 50 All of the following are high income countries except ? Singapore Hungary the United Kingdom Japan 18 / 50 Refer to Exhibit 6.If People in the economy expect inflation to be 6 percent but inflation turn out to be 3 percent the economy is operating at point ? F c H d 19 / 50 ________ refers to the price charged for products sold to a subsidiary to a multinational corporation b another subsidiary in another country? price discrimination transfer pricing full cost pricing marginal cost pricing 20 / 50 In industrial societies consumption ? must always be limited is viewed unfavorably is not a factor maintains and fuels demand 21 / 50 The relationship of the mass media and politicians can be described as_________________? symbiotic and adversarial nonexistent political control of the media media subversion of government 22 / 50 Behavioral theories of the firm concentrate on the _______ interests of _______? common; mangers common; different parts of the firm conflicting; different parts of the firm conflicting; managers 23 / 50 The type of trade promotion discount in which manufacturers agree to reduce the price to the retailer in exchange for the retailer?s agreement to feature the manufacturer?s products is some way is called a(n) ? discount allowance rebate premium 24 / 50 Agents of socialization consist of_______________? none of these instincts genes drives 25 / 50 Marginal revenue is the ________ when output is __________? Change in average revenue, increased change in total revenue increased change in average revenue, increased by one unit Change in total revenue, increase by one unit 26 / 50 Economic sanctions? involve restrictions on imports, but not exports affect international trade but not international financial flows involve restrictions in imports exports and or financial flows are prohibited by the World Trade Organization 27 / 50 When economists talk about developing countries experiencing flight of capital they mean? people investing money abroad rather than in their own country People investing their money in urban business rather than agriculture money lent to the country being immediately invested abroad money moving around financial institutions rather than being invested in production 28 / 50 The public sector_________________? is bloated with a large bureaucracy employs one of every four workers is less efficient and effective than the private sector all of the above 29 / 50 According to the supply side of the vicious circle theory of development a country is poor because ? it was previously too poor to save and invest underemployment is too widespread technology levels do not allow for self sufficiency resource allocation is poor 30 / 50 A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything? demand service product basic staple 31 / 50 Which does the government not control directly ? Firms investment decisions Spending on defence Spending on health Spending on education 32 / 50 What is the period of Rabi season ? Oct-Nov to April-June January-Mar to April-May May-June to July-Aug Oct-Dec to April-May 33 / 50 For the United states, exports plus imports are about _____ of its gross national product? 10 percent 5 percent 25 percent 55 percent 34 / 50 According to last census, the population growth rate in Pakistan was ? 2.61% 3.70% 4.10% 3.90% 35 / 50 The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good? increase quantity demanded, reduce quantity demanded reduce quantity demanded, reduce quantity demanded reduce quantity demanded, increase quantity demanded increase quantity demanded, increases quantity demanded 36 / 50 In Pakistan what is the yield of sugarcane ? 54378 kg/hec 48042 kg/hec 45000 kg/hec 74538 kg/hec 37 / 50 The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ? firms are not price takers in input markets firms are not price takers in the output market households do not have perfect information all of the above 38 / 50 Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ? Oligopsony Grey market Green market Oligopoly 39 / 50 The term technology refers to______________? All of these Science based know low Application of modern science in the country Application of science to achieve a commercial or industrial objective 40 / 50 Which of the following is an example of equity finance ? Government bonds Company shares Corporate bonds All of these answers are equity finance 41 / 50 A case study is most useful when ____________? no hypothesis can be formulated facts must be established events under consideration are rare limited research funds are available 42 / 50 if demand is price inelastic ? An increase in price must raise profits A decrease in price reduces sales An increase in price increase revenue An increase in price decrease revenue 43 / 50 The view that inequality is based on the corrupting and divisive actions of institutions is part of the ideology of_______________? structural functionalism social Darwinism classical liberalism classical conservatism 44 / 50 Which statement is an example of stereotyping ? Judge each individual on his own merits All blacks are good basketball players Talent is not the exclusive property of any ethnic group There are good and bad among all ethnic or racial groups 45 / 50 Which statement is False ? Fixed costs do not depend on the firm?s level of output Fixed costs are zero if the firms is producing nothing. Fixed costs are the difference between total costs and total variable costs There are no fixed costs in the long run 46 / 50 In the social sciences discrimination as a concept means_________________? the physical ability to see in the dark having good taste in art and music actions taken as a result of prejudicial feelings ability to discern the direction of social relations 47 / 50 In the long run in perfect competition ? Firms are allocatively inefficient Firms are productively efficient The price equals total cost The price equals the total revenue 48 / 50 Net National Product equals ? Gross National Product minus depreciation Gross Domestic Product adjusted for inflation Gross National Product adjusted for inflation Gross Domestic Product plus net property income from abroad 49 / 50 Change may be experienced at which level ? Alpha beta and delta Micro middle and macro Public and public opinion High and low 50 / 50 Free port is ? Where no expert or import duties are levied Where no export duties are levied Where everything can be import or export Where no import duties are levied 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 52 Economics Quiz 54Next
