Economics Quiz 64
1 / 50
Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer?s income is ?100 Suppose that the price of a pair of socks falls from ?5 to ?2 The income effect is represented by the movement from point ?
2 / 50
Annual growth rate of agriculture for the year 2010-11 was ?
3 / 50
Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The accounting profit at Naila?s pottery factory is ?
4 / 50
A public good is ?
5 / 50
The oldest form of power rests on_______________?
6 / 50
Which one of the following is not true ?
7 / 50
When banks prepare their balance sheets. They show the money lent in ?
8 / 50
What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?
9 / 50
A persons family in addition to being a primary group is also a______________?
10 / 50
Ideology________________?
11 / 50
In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?
12 / 50
In the long-run some firms will exit the market if the price of the good offered for sale is less than ?
13 / 50
The divorce of owner ship and control causes a problem usually referred to by economists as ?
14 / 50
The Industrial Revolution began with_________________?
15 / 50
In the United States a sense of national identity ?
16 / 50
In order to practice price discrimination which of the following is needed ?
17 / 50
If a marginal revenue exceeds marginal cost, a monopolists should?
18 / 50
Pakistan?s Gross Domestic Product (in contrast to Gross National Product) measures the production and income of ?
19 / 50
The normal rate of profit for relatively risk-free firms will be _________ the interest rate on risk-free government bonds?
20 / 50
Which is false of the process of diffusion ?
21 / 50
What was the top mild producing country ?
22 / 50
The balance of trade is a record of ?
23 / 50
Besides tobacco, tea and cotton, which is the agricultural produce of China ?
24 / 50
How much of the total export earning is through agriculture ?
25 / 50
Professionalization means________________?
26 / 50
The microelements of societies are made up of_____________?
27 / 50
Power may be asserted by_________________?
28 / 50
The underground economy consists of ?
29 / 50
Most mixed or capitalist developing countries are limited to an indicative plan, which indicates expectations, aspirations, and intentions ?
30 / 50
If the demand for money depends on the interest rate the velocity of circulation is ?
31 / 50
If the home country government grants a subsidy on a domestically produced good domestic producers tend to ?
32 / 50
The loss of entire categories of jobs without the creation of new occupations would be_______________?
33 / 50
Mercantilism ?
34 / 50
Theory of comparative advantages was presented by ?
35 / 50
The interest rate is determined in ?
36 / 50
The major segment of ?Saraiki? speaking population lives in ?
37 / 50
In the economy when a steel producer sells steel to car producer it is regarded as ?
38 / 50
World overpopulation could be prevented by_________________?
39 / 50
When aggregate supply exceeds aggregate demand ?
40 / 50
In the long run, the competitive firm?s supply curve is the ?
41 / 50
If a broad spectrum of the population is surveyed at a given time the study is called______________?
42 / 50
Interest groups have the following traits They_______________?
43 / 50
The government can curb excessive aggregate demand(inflation)by_________________?
44 / 50
Pakistan is the _____largest Onion Producer country in the world ?
45 / 50
Thomas Malthus argued that ?
46 / 50
Real GNP is a crude measure of national welfare because it excludes ?
47 / 50
The most important source of wage differentials are ?
48 / 50
Open market Operation is ?
49 / 50
If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
50 / 50
The foreign alliances the U.s has entered into have resulted in__________________?
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