Economics Quiz 78

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Economics Quiz 78

1 / 50

The term ?rent? as it is used by economists. refers to ?

2 / 50

The last stage in the selling process in the __________ stage?

3 / 50

In the short term a firm will produce provided the revenue ?

4 / 50

Industrial Revolution__________________?

5 / 50

Which of the following statements about trade policy is true ?

6 / 50

David Ricardo?s theory in favor of free trade uses the ideal of ?

7 / 50

Constitutions are________________?

8 / 50

The United States Canada Northern and Western Europe among other areas are________________?

9 / 50

According to Lewis?s model the dual economy grows only when ?

10 / 50

The total forest area of Punjab is ?

11 / 50

The federal government has increased its responsibilities at the local level because_____________?

12 / 50

Suppose the price level falls but because of fixed nominal wage contracts the real wage rises and firms cut back on production This is a demonstration of the ?

13 / 50

Roberto and Thomas live in a university hall of residence Roberto values playing loud music at a value of ?100. Thomas values Pease and quiet at a value of ?150. Which of the following statements is true ?

14 / 50

If A forms a customs union with C, the value of trade diversion will be ?

15 / 50

If a maximum price is set below equilibrium there will be ?

16 / 50

In Nash equilibrium each player chooses the best strategy ?

17 / 50

Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

18 / 50

The length of a business cycle would be measured from ?

19 / 50

Human wants are_______________?

20 / 50

Within the circular flow of income, an increase in domestic income will tend to increase ?

21 / 50

In a cartel member firms may be given a fixed amount to produce. This is called a ?

22 / 50

Structural economists from the United Nations Economic Commission for Latin America (ECLA) emphasized ?

23 / 50

Rice account for 6.6 percent in value added in agriculture. What is its contribution in GDP ?

24 / 50

A reduction in interest rates, causes an increases in the monetary base that results in an _________ in the availability of consumer credit and a ________ in the cost of consumer credit?

25 / 50

Refer to Exhibit 4. If a tax is placed on the product in this market tax revenue paid by the sellers is the area ?

26 / 50

Unemployment means that ?

27 / 50

Investment in agriculture sector is Rs ?

28 / 50

Today?s Catholic Church is classified as a________________?

29 / 50

Country A has the comparative advantage in ?

30 / 50

The ecosystem is__________________?

31 / 50

Lean production________________?

32 / 50

Futurist Alvin Toffler called his concept_______________?

33 / 50

An example of unconscious socialization would be____________________?

34 / 50

The popularity of spaghetti in the United States resulted from_______________?

35 / 50

A country?s capital stock is the ?

36 / 50

An individual learns to be a human being by______________?

37 / 50

Which of the following statement about rural and agricultural development is true ?

38 / 50

Throughout most of humankind?s existence, population grew at a rate of ________ per year?

39 / 50

CEO stands for_______________?

40 / 50

What is called the result of a state?s borrowing from its population, from foreign governments or from international institutions ?

41 / 50

Economic growth can be shown by ?

42 / 50

The main problem facing societies with a surplus is_____________________?

43 / 50

Governments may contribute to inflationary pressure because of building up large ?

44 / 50

The teenage birthrate_______________?

45 / 50

Purchases of government securities in the United States by foreigners is ?

46 / 50

The most wave of globalization which began in the 1980s has emphasized the outsourcing of ?

47 / 50

The balance of payment is ?

48 / 50

According to Karl Marx_______________?

49 / 50

Total increases from Rs500 to Rs600 when output increases from 20 to 30 units. Fixed costs are Rs200 Which of the following is true ?

50 / 50

The traditional profit-maximizing theory of the firm has been criticized by some economists because ?

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