Economics Quiz 62

1 / 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

inflation effects exchange rates

not all products are internationally tradeable

governments sometimes impose trade restrictions such as tariffs and quotas

2 / 50

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

public

communal

common law

private

3 / 50

Sales staff are keen to sell extended warranties because ?

extended warranties offer value for money.

They are concerned about customer satisfaction.

they are paid commission on each extended warranty they sell.

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

4 / 50

The current account includes ?

services

All of the above

the value of trade in merchandise

unilateral transfers

5 / 50

Agriculture contributes about ________ to the GDP?

25%

35%

15%

55%

6 / 50

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

elections; economics policies

economic policies; political policies

monetary policy, fiscal policy

tax collection, tax implementation

7 / 50

The terms of trade is given by the prices ?

Of primary products as opposed to manufactured products

Received for exports and paid for imports

Paid for all goods exported by the home country

Received for all goods exported by the home country

8 / 50

The opportunity cost of a good is______________?

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

the expenditure on the good

the loss of interest in using savings

the time lost in finding it

9 / 50

Which one of the following is a normative statement ?

Inflation is rising

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

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

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

10 / 50

A current account deficit means that a country may ?

increases its foreign currency reserves

increases its savings

reduce its stock of foreign assets

increase its stock of foreign assets

11 / 50

Environmental pollution is the result of_________________?

dysfunctions in the earth,s atmosphere

unknown bacteria and viruses

ignorance on the part of the underdeveloped nations

human actions that have harmful consequences

12 / 50

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

money market for different combinations of interest rates and output

money market for the given level of the money supply

goods market for the given interest rate

goods market for the given level of government spending

13 / 50

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

crowds out public consumption

crowds out imports

crowds out exports

reduces the budget deficit

14 / 50

The implementation lag for monetary policy is generally ?

the same as it is for fiscal policy

mush longer than it is for fiscal policy

much shorter than it is for fiscal policy

unrelated to central bank action

15 / 50

Public opinion is associated with_______________?

emergent norms

mass society

primary groups

face-to-face-communication

16 / 50

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

government bonds

Capital bills

Treasury bills

bills of exchanges

17 / 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?

increase; appreciate

decrease; depreciate

decrease; appreciate

increase; depreciate

18 / 50

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

Tariffs

Foreign exchange controls

Embargoes

Quotas

19 / 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

20 / 50

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

The goods offered for sale are largely the same.

All of these answers are 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

21 / 50

A formal structure of an organizations is its_______________?

appearance to its general public

full-time employees

bylaws and body of officers

leadership structure

22 / 50

Economics deals with_______________?

consumption of goods and services

all of the above

distribution of goods and services

production of goods and services

23 / 50

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

Reduces costs

Leaves revenue unchanged

Reduces revenue

Increase revenue

24 / 50

Master status refers to________________?

a dominant position in a relationship

the attainment of recognized excellence

the most widely recognized among several positions

the position from which all other positions are derived

25 / 50

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

customer sales force structure

territorial sales force structure

pychographic trait sales force structure

product sales force structure

26 / 50

People often accept social control based on________________?

violence

harsh rules

positive sanctions

negative sanctions

27 / 50

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

a relatively large dense permanent settlement of heterogeneous individuals

an ecological system

any locality with a downtown and suburbs

any locality with a population of one million people or more

28 / 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 demand

decrease in the money supply

increase in the money supply

29 / 50

Dynamic comparative advantage theory ?

None of the above

Is another name for Ricardo?s comparative advantage theory?

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

cannot explain strategic competition between firms such as Boeing and Airbus

30 / 50

What is comprised by public sector ?

Nationalized industries

Central and local government.

Public corporations

All of them

31 / 50

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

Contraband

Embargo

Restriction

Ban

32 / 50

Ethical neutrality is the opposite of_________________?

objectivity

participant observation

generalization

judgmental social science

33 / 50

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

Treasure

Holdings

Foreign currency

Reserves

34 / 50

An example of an indirect tax is ?

a tax on profits

income tax

inheritance tax

VAT

35 / 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 ?

an import tariffs

a global quota

a selective quota

a tariff rate quota

36 / 50

A society based on close personal ties is a_____________?

Gesellschaft

Mineshaft

Gemeinschaft

family

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 ?

The green movement

Governmental regulation

International competition

Nader?s raiders

38 / 50

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

should act to maximize economic growth

benefits if each acts in his/her own interest

will increase their profits in a free market

should act to promote the public interest

39 / 50

Thomas Malthus sated that________________?

population growth is a matter of algebra not geometry or arithmetic

population grow in arithmetic progression

populations increase in geometric progression

fodd increases in a geometric progression

40 / 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 exerting undue influence over the reseller?s choice to handle a product

not using coercion in the marketing channel

not manipulating the availability of a product for purpose of explotation

41 / 50

What is the total landmass of the country ?

87.98 million hectares

89.98 million hectares

78.98 million hectares

98.87 million hectares

42 / 50

The American democratic system is based on________________?

all of the above

the dignity of the individual

protection of minority rights

representation of the majority

43 / 50

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

composition of population

size, structure, and composition of population

Size of population

structure of population

44 / 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

Gives in take

Barter

Cash on Delivery

45 / 50

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

543 thousand cubic meters

425 thousand cubic meters

343 thousand cubic meters

243 thousand cubic meters

46 / 50

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

Close-Trade zone

None of them

Free-trade zone

Both of them

47 / 50

Credentialism opens jobs _______________?

to all people

but has no bearing on the job market

to members of skilled professions

to members of academia

48 / 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 ?

Staffan Linder?s

Paul Samuelson?s

Wassily Leontief?s

Wolfgang Stolpher?s

49 / 50

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

Stagnation

Take-off stage in economy

Stagflation

None of these

50 / 50

Longevity is proxy for ________ in the Human Development Index?

Purchasing Power Parity

living standard

infant mortality

health and nutrition

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