0% 0 Economics Quiz 66 1 / 50 Demand pull inflation may be caused by ? An outward shift in aggregate supply A reduction in government spending A reduction in interest rate An increase in costs 2 / 50 A shift in supply will have a bigger effect on price than output if demand is ? Price inelastic income inelastic Price elastic income elastic 3 / 50 Which of the following is a problem for monetary policy in a currency union ? The interest rate may be higher than is appropriate for economic conditions in some countries while it?s lower than is appropriate in some others monetary policy must be one size fits all The inflation-unemployment trade-off is more unstable in a currency union Money supply is more difficult to control in a currency union. All of these answers describe problems for monetary policy in a currency union 4 / 50 For the Eurozone countries, the most important source of the downward slope of the aggregate demand curve is probably ? The exchange-rate effect The wealth effect None of these answers The interest-rate effect 5 / 50 Conditions associated with long-term marriages include_________________? whether the women came from an intact family a women?s age at marriage a women?s family income all of the above 6 / 50 The crop most susceptible to frost it ? Wheat black gram red gram Cotton 7 / 50 Which condition is a major obstacle to economic development in the Middle East and Northern Africa ? lack of access to world markets reliance on capitalist economic systems use of strip mining to obtain minerals scarcity of water resources 8 / 50 The earliest and least complex society was___________? pastoral hunting and gathering horticultural agrarian 9 / 50 Which of the following is true with regard to a tax on labor income? Taxes on labor income tend to encourage ? second earners to stay home. all the things described in these answers. the unscrupulous to enter the underground economy the elderly to retire early. 10 / 50 Collective behavior is________________? nonroutine alienating emergent convergent 11 / 50 A prison is a______________? total institution tertiary socialization secondary institution primary institution 12 / 50 Which of the following is FALSE? Scientific observation ? must occur under controlled conditions yields valid date with classification organization or recording must proceed systematically is open to anyone who wants to pursue it 13 / 50 IF GDP for Maldivies is $435 million in 2012 and the GDP per capita is $1576.087 the population of the country must be ? 3.623 1,576,086 0.276 276,000 14 / 50 An ascribed status that a person cannot change is________________? race political party last name religion 15 / 50 X inefficiency occurs when ? There are external cost The price is greater than the average cost The price is greater than the marginal cost Costs are higher than they could be due to a lack of competitive pressure 16 / 50 In 2010-11 the yield of rice in Pakistan was ? 2040 kgs/hec 2030 kgs/hec 2035 kgs/hec 1836 kgs/hec 17 / 50 The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ? general equilibrium analysis specific equilibrium analysis industry equilibrium analysis partial equilibrium analysis 18 / 50 The crowd at a religious revival meeting is_______________? acting casual expressive disorganized 19 / 50 Refer to Figure 1 What percent of the population vote for A when the choice is between A and B ? 40 percent 60 percent 75 percent 35 percent 20 / 50 The theory of overlapping demand predicts that trade in manufactured goods is unimportant for countries with very different ? Expectations of future interest rate levels Labor productivities Per-capita income levels Tastes and preferences 21 / 50 The highest victimization rates occur________________? equally in all age groups in the teenage years in the 10-15 years age group in the 0 to 3 year age group 22 / 50 The civil rights movement in the United States was a_________________? reform movement nationalistic movement ethical movement change resistant movement 23 / 50 Point out the term for producer goods such as machinery that is used in production of commodities ? Hard capital Capital goods Capital assets Running capital 24 / 50 The diagram that shows the income received and payments made by each sector of the economy is the ? circular flow diagram aggregate demand-aggregate supply diagram income-price diagram income-expenditures diagram 25 / 50 If the Pakistan receives larger than expected revenues from exports then the exchange value of its currency will tend to ? appreciate depreciate fluctuate more than if exports were lower not be affected 26 / 50 A price reduction to buyers who buy in large volumes is called a(n) ? cash discount seasonal discount trade discount quantity discount 27 / 50 The marginal revenue product of labour is ? the additional revenue a firm earns by employing on additional unit of labour the additional profit a firms earns by employing one additional unit of labour the additional revenue the firm makes by selling one unit of labour. the marginal product of capital times the price of labour. 28 / 50 Which of the following is the Prevalent public health problem has been observed in the country ? Vitamin A deficiency iron deficiency anemia deficiency Jaundice 29 / 50 What is the share of rural population in the total population of Pakistan ? 67.50% 74.80% 59.60% 61.80% 30 / 50 Accounting profit is equal to total revenue minus ? explicit costs. implicit costs the sum of implicit and explicit costs. variable costs 31 / 50 Irrigation was developed in the Indus Valley Civilization by around ______? 4500 BCE 4000 BCE 4100 BCE 4200 BCE 32 / 50 An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output? increases; increases reduces; reduces increases; reduces reduces; increases 33 / 50 Bilateral aid ? is given directly by one country to another is aid with repayment in inconvertible currency is a loan at bankers? standards is technical aid given by IMF 34 / 50 What is called the market in which forces of demand and supply are not in the control of government ? Both of them Market Economy None of them Free Market 35 / 50 Which of the following is not a function of a commercial bank? Undertaking agency functions Banker to the government Granting loan and advances Accepting public deposits 36 / 50 If an increase in the price of a good has no impact on the total revenue in that market demand must be ? all of these answers unit price elastic price elastic price inelastic 37 / 50 The social sciences first emerged ? to defend the established order to systematically apply common sense to issues as a method of social control as a search for universal social laws 38 / 50 A set of alternative commodity bundles that a person can command in a society using the totality of rights and opportunities that he possesses is known as ? egalitarianism Production possibilities entitlement income distribution 39 / 50 If an increase in the price of blue jeans leads to an increase in the demand for tennis shoes, then blue jeans and tennis shoes are ? Substitutes inferior goods Complements normal goods 40 / 50 The largest spoken language in Pakistan is ? Sindhi Pushto Urdu Panjabi 41 / 50 A company?s first sale of stock to the public is called ? Going Public Initial Public Offering (IPO) Public Offering First Public Offering 42 / 50 What function do politicians serve according to pluralists ? Statesmen Shills or decoys Power and interest brokers Front men 43 / 50 In contestable markets large oligopolistic firms end up behaving like ? a monopoly. a cartel monopolistically competitive firms perfectly competitive firms 44 / 50 Firms sell their products in________________? product markets abstract markets resource markets factor markets 45 / 50 Setting call objectives is done during which of the following stages of the selling process? Prospecting Approach Preapproach Handling objections 46 / 50 Suppose that the nominal tariff rate on finished computers is 12 percent and that the weighted average of the nominal tariff rates on the inputs used in producing computers is 18 percent. Thus, the effective rate of protection for the computer industry must ? exceed 30 percent be less than 12 percent but must be greater than zero equal 6 percent be less than 12 percent and can be negative 47 / 50 According to criminologists_______________? the death penalty does not act as a deterrent the death penalty is a sing of an uncivilized society the death penalty does act as a deterrent it is preferable to judge each criminal case individually 48 / 50 International trade forces domestic firms to become more competitive in terms of ? Product design and quality Product price All of the above The introduction of new products 49 / 50 The Marginal Revenue Product is ? Downward sloping due to the law of supply Upward sloping due to the law of marginal utility Upward sloping due to the law of demand Downward sloping due to the law of diminishing returns 50 / 50 If the relative price (MRT) of S were to increase, then the price line would ? shift in a parallel fashion Become steeper Become flatter shift out in a parallel fashion 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 65 Economics Quiz 67Next
