0% 0 Economics Quiz 8 1 / 50 When entering a building, Asim diverts his path to go through an open door rather than make the physical effort to open the closed door that is directly in his path. This is an example of: programmed learning a lazy person marginal benefit-marginal cost analysis irrational behavior 2 / 50 Which one is the dominant source of foreign exchange earning ? Manufacturing Textile Agriculture Foreign remittance 3 / 50 Which of the following is not a characteristic of a monopolistically competitive market ? many sellers differentiated products free entry and exit long run economic profits 4 / 50 Sen?s welfare theory relies on ? individuals? capabilities individuals? wealth individuals? education individuals? accomplishments 5 / 50 One criticism of Rostow?s theory of economic growth is that ? his hypothesis of the stages of growth is difficult to test empirically All of the above are correct there is no explanation of why growth occurs after takeoff much available data contradicts his thesis about the takeoff stage 6 / 50 Minority groups______________? exhibit clannish behavior tend to show solidarity to each other practice cultural relativity constitute a subculture within the larger culture 7 / 50 Which of the following statements is true if the government places a price ceiling on petrol at Rs150 per litre and the equilibrium price is Rs100 per litre ? A significant increase in the supply for petrol could cause the price ceiling to become a binding constraint. There will be a shortage of petrol There will be surplus of petrol A significant increase in the demand for petrol could cause the price ceiling to become a binding constraint. 8 / 50 Which property the paper money does not process ? Durability Divisibility Acceptability Portability 9 / 50 Urbanism is associated with_____________________? increase in anomie and alienation public transportation extended families Gemeinschaft society 10 / 50 Which is the most widely used tool of monetary policy ? Open-market operations Issuing of notes Clearing house Discount rate 11 / 50 The initial impact of an increase in government spending is to shift ? aggregate supply to the right aggregate supply to the left aggregate demand to the right aggregate demand to the left 12 / 50 The marginal propensity to consume is equal to ? Change in consumption / change in savings Total consumption / total income change in consumption / change in income Total spending / total consumption 13 / 50 What is the share of Sindh in the total population of Pakistan ? 23% 22% 25% 28% 14 / 50 The elitist school of thought asserts that______________? the masses should rebel against the elite the elite is not always against the masses the elite displays a monolithic power structure the elite always works against the public interest 15 / 50 Downsizing is______________? None of the above to make in a actual size to make in a smaller size to make in a half size 16 / 50 Term a film that is engaged in two or more unrelated businesses ? giant Multinational Incorporation Conglomerate 17 / 50 What is Free port ? Where everything can be import or export Where no export duties are levied Where no import duties are levied Where no export or import duties are levied 18 / 50 Which of the following is NOT true of primary relations ? the family is the only source of primary relation they cannot exist in secondary groups they are always harmonious all of the above 19 / 50 How I measured the change in the cost of basic goods and services in comparison with a fixed base period ? Comparative Price Index (CPI) Complete Price Index (CPI) Consumer Price Index (CPI) Human Development Index (HDI) 20 / 50 Which of the following would cause a demand curve for a good to be price inelastic ? The good is luxury The good is an inferior good The good is a necessity There are a great number of substitutes for the good 21 / 50 Which fruit is an offspring of the pummel ? Grapefruit Peach Kiwi Strawberry 22 / 50 Pathologies endemic to the Soviet bureaucracy included secrecy formalism cumbersome procedures rigidity and the tendency to concentrate on control rather than performance The party controlled The state by using the ____ the power to recommend and approve managers in administration and enterprises, of appointments and promotions to control access to government positions ? Gosplan Gosagroprom Parastatals nomenklatura system 23 / 50 What is public sector ? Nationalized Industries Central and local government All of them Public corporations 24 / 50 What is called the excess of purchase price over fair market value of net assets that are acquired under the purchase method of accounting ? Bonus Upgradation Up level Goodwill 25 / 50 The emigration of highly-skilled people from the developing countries is known as ? The brain drain human capital deterioration productivity labor degradation 26 / 50 When the world Bank or IMF requires improved external balance in the short run the agency may condition its loan on expenditure switching that is ? increase trade restrictions by imposing quota devaluing local currencies increase government spending switching spending from domestic to foreign sources 27 / 50 Black Volcanic soil and tropical climate is most suitable without excess rainfall for which crop ? None of these Cotton Jute Tobacco 28 / 50 The idea that technology changes social organization and ideology is called______________? secular humanism scientific determinism evangelical determinism technological revolution 29 / 50 Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called? convenience products custom products specialty products shopping products 30 / 50 In perfect competition ? Short run abnormal profits are completed away by firms leaving the industry Short run abnormal profits are competed away by greater advertising Short run abnormal profits are competed away by the government Short run abnormal profits are competed away by firms entering the industry 31 / 50 Romance as a reason for marriage________________? is a modern invention prevents divorce contributes to divorce is an ancient principle 32 / 50 We measure national income by this method ? All of the above Income method Expenditure method Product method 33 / 50 Overpopulation is a problem worldwide but only in relation to________________? political organization demography population density poor contraception 34 / 50 Which of the following is indicated by the term unemployed ? Note fully used or employed Inadequately employed All of them Employed only part time when one needs full time employment 35 / 50 Which is NOT form of plural marriage ? Polyandry Monogamy Polygamy Polygyny 36 / 50 What was the top chicken producing country ? United States Brazil Indonesia China 37 / 50 Economics assumes that people consume goods and services to achieve ? Prestige Status Utility Self-esteem 38 / 50 In stratified societies categories of people are ranked by________________? none of the above food is shared by all hunting lacks prestige food is hoarded by a few 39 / 50 The victims of crime tend to be_______________? members of the middle class poor members of minority groups B and C 40 / 50 If a nation fitting the criteria for the large nation model imposes an import tariff ? None of the above The domestic price of the product will increase by the same amount as the tariff the domestic price of the product will increase by more than the tariff itself The domestic price of the product will increase by less than the tariff 41 / 50 Which of the following is likely to generate a compensating differential ? One employee is more educated than another One employee is more attractive than another One employee is willing to work the nightshift while another is not. All of these answers generated 42 / 50 Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ? normal, inferior normal, complements substitutes inferior substitutes complements 43 / 50 Smith wrote that private ownership of the means of production would ? stifle economic growth as the markets would be flooded with merchandise stimulate economic growth as each individual tried to maximize profits stimulate government control create abuse 44 / 50 The retail price index is used to__________________? compare shop prices None of the above construct price lists measure changes in the cost of living 45 / 50 Which is the most famous waterfall of the world ? Superior Angel Balkan Niagara 46 / 50 A combined measure of productivity that takes account of both labor and capital productivity is known as ? total productivity total factor productivity labour/capital productivity total exploitation 47 / 50 Economic development in Japan after World War II and in Communist China since the 1980s in similar in that both nations have sought to ? end foreign investment utilize the concepts of capitalism to improve their economies nationalize most major industries and restrict competition develop their vast natural resources to achieve economic growth 48 / 50 The oil supplies of the United States are subject to______________? constant increase environmental depletion price stability environmental pollution 49 / 50 How much of the total population of the world is living in Asia ? 62% 58.60% 51% 55.50% 50 / 50 By 2050 8 billion of the projected 9.5 billion people will be_____________________? living in industrial nations living in poor countries living in predominantly agricultural nations as wealthy as the developed nations 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 7 Economics Quiz 9Next
