Economics Quiz 62

1 / 50

Government Securities with terms of more than one year are called ?

government bonds

bills of exchanges

Capital bills

Treasury bills

2 / 50

Term the group of countries that have removed all restrictions on trade among themselves?

Free-trade zone

None of them

Both of them

Close-Trade zone

3 / 50

Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?

payment on Delivery

Barter

Gives in take

Cash on Delivery

4 / 50

A formal structure of an organizations is its_______________?

bylaws and body of officers

full-time employees

appearance to its general public

leadership structure

5 / 50

If the price elasticity of demand is unit then a fall in price ?

Leaves revenue unchanged

Reduces revenue

Reduces costs

Increase revenue

6 / 50

The period of high inflation and low economic growth is termed as ?

Stagnation

Take-off stage in economy

None of these

Stagflation

7 / 50

Demography is a scientific study of human population with respect to ?

composition of population

size, structure, and composition of population

structure of population

Size of population

8 / 50

A current account deficit means that a country may ?

reduce its stock of foreign assets

increase its stock of foreign assets

increases its savings

increases its foreign currency reserves

9 / 50

The American democratic system is based on________________?

all of the above

protection of minority rights

the dignity of the individual

representation of the majority

10 / 50

_____ 1954 study of U.S trade patterns showed that U.S exports were labor-intensive compared with U.S imports, even though the United States was widely regarded as a relatively capital-abundant nation ?

Paul Samuelson?s

Wolfgang Stolpher?s

Staffan Linder?s

Wassily Leontief?s

11 / 50

What does one call property owned by the state in the name of the people ?

private

public

common law

communal

12 / 50

The American Marketing Association suggests a list of code of ethics All of the following are ethics suggested in the area of distribution EXCEPT ?

using gray marketers whenever possible to save the consumer money

not using coercion in the marketing channel

not manipulating the availability of a product for purpose of explotation

not exerting undue influence over the reseller?s choice to handle a product

13 / 50

The purchasing power parity theory has limitations in forecasting exchange rate fluctuations for all of the following reasons except ?

international capital flows affect exchange rates

not all products are internationally tradeable

inflation effects exchange rates

governments sometimes impose trade restrictions such as tariffs and quotas

14 / 50

Dynamic comparative advantage theory ?

cannot explain strategic competition between firms such as Boeing and Airbus

helps explain why some nations use industrial policy to support potentially competitive new firms

None of the above

Is another name for Ricardo?s comparative advantage theory?

15 / 50

The opportunity cost of a good is______________?

the loss of interest in using savings

the quantity of other goods sacrificed to get another unit of that good

the expenditure on the good

the time lost in finding it

16 / 50

People often accept social control based on________________?

violence

positive sanctions

negative sanctions

harsh rules

17 / 50

Which measures. taken by a government would be intended to raise the price of imports ?

Quotas

Foreign exchange controls

Embargoes

Tariffs

18 / 50

Each point on the LM curve represents the equilibrium point in the ?

goods market for the given interest rate

money market for the given level of the money supply

goods market for the given level of government spending

money market for different combinations of interest rates and output

19 / 50

Longevity is proxy for ________ in the Human Development Index?

infant mortality

living standard

health and nutrition

Purchasing Power Parity

20 / 50

The terms of trade is given by the prices ?

Received for all goods exported by the home country

Paid for all goods exported by the home country

Of primary products as opposed to manufactured products

Received for exports and paid for imports

21 / 50

Thomas Malthus sated that________________?

fodd increases in a geometric progression

population growth is a matter of algebra not geometry or arithmetic

populations increase in geometric progression

population grow in arithmetic progression

22 / 50

Master status refers to________________?

the most widely recognized among several positions

the attainment of recognized excellence

a dominant position in a relationship

the position from which all other positions are derived

23 / 50

According to the U.S Census Bureau a CMSA is defined as__________________?

any locality with a downtown and suburbs

any locality with a population of one million people or more

a relatively large dense permanent settlement of heterogeneous individuals

an ecological system

24 / 50

An example of an indirect tax is ?

inheritance tax

income tax

a tax on profits

VAT

25 / 50

The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone ?

benefits if each acts in his/her own interest

will increase their profits in a free market

should act to promote the public interest

should act to maximize economic growth

26 / 50

Pivotal institutions_________________?

include government the economy education the family and religion

all of the above

differ in traits and culture complexes from society to society

arise from fundamental human needs

27 / 50

The implementation lag for monetary policy is generally ?

mush longer than it is for fiscal policy

the same as it is for fiscal policy

unrelated to central bank action

much shorter than it is for fiscal policy

28 / 50

The current account includes ?

services

All of the above

the value of trade in merchandise

unilateral transfers

29 / 50

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of _____ while presidential governments manipulate the timing of _____?

monetary policy, fiscal policy

tax collection, tax implementation

economic policies; political policies

elections; economics policies

30 / 50

Agriculture contributes about ________ to the GDP?

25%

55%

15%

35%

31 / 50

All of the following are methods by which a company can divide up its sales responsibilities EXCEPT ?

territorial sales force structure

customer sales force structure

pychographic trait sales force structure

product sales force structure

32 / 50

Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?

Restriction

Ban

Contraband

Embargo

33 / 50

Starting from a position where the nation?s money demand equals the money supply and its balance of payments is in equilibrium its balance of payments would move into a surplus position if there occurred in the nation a (an) ?

None of the above

decrease in the money supply

decrease in the money demand

increase in the money supply

34 / 50

Which one of the following is a normative statement ?

Inflation is rising

Inequality in the distribution of income is a more serious problem than unemployment

The proportion of people?s income paid in taxes is higher under this government than under the previous one.

The richest 10 per cent of the population has had a bigger percentage increase in incomes over the past 10 years than the poorest 10 percent

35 / 50

In the early eighties, the Federal Reserve pursed a tight monetary policy. All else being equal. the impact of that policy was to interest rates in the United States relative to those in Europe and cause the dollar to _______ against European currencies?

decrease; appreciate

increase; appreciate

increase; depreciate

decrease; depreciate

36 / 50

Which term is used for a country?s holdings of intentionally acceptable means of payment ?

Reserves

Foreign currency

Treasure

Holdings

37 / 50

3M runs a Pollution a Prevention Pays program that has led to a substantial reduction in pollution and costs this would be an example of responding and costs. This would be an example of responding to which of the following ?

International competition

Governmental regulation

The green movement

Nader?s raiders

38 / 50

Ethical neutrality is the opposite of_________________?

generalization

judgmental social science

participant observation

objectivity

39 / 50

What is the total landmass of the country ?

89.98 million hectares

98.87 million hectares

87.98 million hectares

78.98 million hectares

40 / 50

Environmental pollution is the result of_________________?

unknown bacteria and viruses

ignorance on the part of the underdeveloped nations

dysfunctions in the earth,s atmosphere

human actions that have harmful consequences

41 / 50

Suppose that the domestic government allows a specific number of goods to be imported each year, but it does not specify from where the product is shipped or who is permitted to import Such a trade barrier is known as ?

a tariff rate quota

a global quota

an import tariffs

a selective quota

42 / 50

Which of the following is not a characteristic of a competitive market ?

The are many buyers and sellers in the market

Firms generate small but positive economic profits in the long run

All of these answers are characteristic of a competitive market

The goods offered for sale are largely the same.

43 / 50

Credentialism opens jobs _______________?

to members of academia

but has no bearing on the job market

to all people

to members of skilled professions

44 / 50

Fiscal policy is weak under floating exchanges rates as fiscal expansion ?

crowds out exports

crowds out imports

crowds out public consumption

reduces the budget deficit

45 / 50

Economics deals with_______________?

production of goods and services

consumption of goods and services

distribution of goods and services

all of the above

46 / 50

During the year 1999-2000 how much timber was contributed by the forest sector ?

343 thousand cubic meters

243 thousand cubic meters

543 thousand cubic meters

425 thousand cubic meters

47 / 50

Sales staff are keen to sell extended warranties because ?

extended warranties offer value for money.

the cost of repair will usually exceed the cost of the warranty

they are paid commission on each extended warranty they sell.

They are concerned about customer satisfaction.

48 / 50

What is comprised by public sector ?

Nationalized industries

Public corporations

All of them

Central and local government.

49 / 50

Public opinion is associated with_______________?

primary groups

emergent norms

face-to-face-communication

mass society

50 / 50

A society based on close personal ties is a_____________?

family

Gemeinschaft

Mineshaft

Gesellschaft

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