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