Economics Quiz 86

1 / 50

The most common form of religious behavior is__________________?

taboo

mana

tithing

prayer

2 / 50

If people are made unemployed because of a fall in aggregate demand this is known as ?

Seasonal unemployment

Structural unemployment

Frictional unemployment

Cyclical unemployment

3 / 50

The concept of opportunity cost ?

Suggests all our wants can be achieved.

Would be relevant if we eliminated poverty

Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.

is relevant only for a capitalist economy like the United States.

4 / 50

There is inequality among the Siriono of Bolivia in that_________________?

the elder females make all the group,s rules

none of the above

there is a priestly caste

the families of the best hunters are permitted to hoard food

5 / 50

What is the density of population in Pakistan total population of Pakistan ?

42.60%

41.00%

32.50%

38.60%

6 / 50

What country had the largest area of forest ?

Russia

United States

Brazil

Canada

7 / 50

Which of the following is not rated by credit rating agencies ?

Commercial paper

Debentures and bonds

Government securities

8 / 50

Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide ?

overwhelming support for the deterioration hypothesis

None of the above

mixed evidence that does not substantiate the deterioration hypothesis

overwhelming opposition to the deterioration hypothesis

9 / 50

A student chooses to study because the marginal benefit is greater than the ______________ cost?

marginal

expected

total

average

10 / 50

New classical economists advocate reducing welfare payments to people who are unemployed or single parents. The economic reasoning used was that this would ?

weaken the power of trade unions

reduce unemployment

help small businesses

reduce poverty

11 / 50

Organized family-planning programs and the demand for birth control resulting from urbanization, modernization, economic development and increased education have contributed to ?

a decline in fertility

The demographic transition from stage 3 to stage 2

increases in the ratio of labor to capital

an increase in the dependency ratio

12 / 50

Studying interaction within a human family would occur on a____________?

microscopic level

macrosocial level

microsocial level

macroscopic level

13 / 50

Any combination of products inside the production possibility frontier is ?

Productively inefficient

X inefficient

Allocatively inefficient

Consumer inefficient

14 / 50

What is Dumping ?

Sale of goods in large quantities with low quality

Sale of goods in large quantities and at a low price

Sale of goods in large quantities with high price

Sale of goods in large quantities with high quality

15 / 50

Julian simon ?

supported the Club of Rome?s Limits to Growth for estimating technical change

used the second law of thermodynamics to assume that technological progress is costless

assumed that population growth causes technological progress

assumed the classical view of technological change 6

16 / 50

The rise of social classes is almost always associated with the development of__________________?

totalitarianism

the state

international trade

democracy

17 / 50

With whom would you associate the following quote? The business of business is business? ?

Karl Marx

Adam smith

Alfred Marshal

Milton Friedman

18 / 50

For a price ceiling to be binding constraint on the market the government must set it ?

above the equilibrium price

at any price because all price ceilings are binding constraints

precisely at the equilibrium price

below the equilibrium price

19 / 50

A ghetto tends to contain________________?

a concentration of one racial group in an area

residents who make up an economic underclass

slums

all of the above

20 / 50

Which method of child care is best for children ?

Spending at least 20 hours with a person other than the mother

We do not really know

Being in a day-care center with other children of the same age

Being cared for by the biological mother even if she would rather work outside the house

21 / 50

When an economy first begins to grow more slowly ?

GDP increase

Stock levels are likely to increase

Investment in equipment is likely to increase

Inflation is likely to increase

22 / 50

The base of all of the following fuels is organic materials except that of ?

Uranium

Natural gas

Petroleum

Coal

23 / 50

Of which item?s chief exporter is Indonesia ?

Gold

Wheat

Silver

Sugar

24 / 50

How much wood the forest sector provides ?

4.5 million hectares

5.5 million hectares

2.5 million hectares

3.5 million hectares

25 / 50

The precautionary demand for money is ?

Directly related to interest rates

Inversely related to income

An active balance

An idle because

26 / 50

What is referred by cost push inflation ?

Decreased production costs drive prices up

increased production costs drive prices down

increased production costs drive prices up

Decreased production costs drive prices down

27 / 50

According to Oskar Lange?s model socialist enterprises should produce where ?

The monopoly profit maximization rule applies

Product price equals marginal cost

total revenue equals total cost

marginal revenue equals average cost

28 / 50

For the United States empirical studies indicate that over the past two hundred years the cost of international transportation relative to the value of U.S imports has ?

Decreased

Not changed

Any of the above

increased

29 / 50

The term prospectus refers to______________?

Both of them

None of them

Document describing chief features of something for participants

Formal summary of proposed project

30 / 50

What is the density of population in Pakistan according to census of 1998 ?

150 persons per square KM

164 persons per square KM

158 persons per square KM

185 persons per square KM

31 / 50

The Phrase ?twin deficits? refers to ?

a country?s trade deficit and its net capital outflow deficit

A country?s trade deficit and its government budget deficit

the equality of a country?s saving deficit and its investment deficit

The fact that if a country has a trade deficit, its trading partners must also have trade deficits

32 / 50

The gas-guzzler tax that is placed on new vehicles that are very fuel inefficient is an example of ?

a tradeable pollution permits.

an attempt to internalize a negative externality.

an application of the Coase theorem

an attempt to internalize a positive externality

33 / 50

Human infants in order to become successful adults need______________?

body contact

all of the above

learning

social interaction

34 / 50

Complete currency pass through arises when a 10 percent depreciation in the value of the dollar causes U.S?

export prices to rise by 10 percent

import prices to rise by 10 percent

import prices to fall by 10 percent

export prices to fall by 10 percent

35 / 50

What was the total inflow of irrigation water in 2001-2 ?

86.9 MAF

91 MAF

76.9 MAF

100.9 MAF

36 / 50

Property is defined in terms of rights of_________________?

distribution

Ownership

consumption

production

37 / 50

The institutional framework developed in 1947 to promote trade liberalization is known sa?

the World Bank

the GATT

the WTO

the IMF

38 / 50

An increase in price all other things unchanged leads to ?

Shift demand outwards

An extension of demand

Shift demand inwards

A contractions of demand

39 / 50

Marx,s view of social class is that______________?

private ownership of the means of production perpetuates class divisions

talented people will always rise to the top

religion helps fight social inequality

the bourgeoisie will eventually triumph

40 / 50

Which is most likely to cause a more even distribution of income ?

An increase in progressive taxation

An increase in the rate of inflation

An increase in managers salaries

An increase in indirect taxes

41 / 50

Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

One vase will be sold, and consumer surplus is Rs5.

Three vases will be sold, and consumer surplus is Rs80

One vase will be sold, and consumer surplus is Rs30.

Two vases will be sold, and consumer surplus is Rs5.

42 / 50

What is the second cattle producing country ?

Argentina

India

United States

China

43 / 50

If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ?

Rs650

Rs50

Rs500

Rs100

44 / 50

Which country in the World is leading in jute production ?

Brazil

India

Thailand

None of these

45 / 50

A form of industry structure characterized by a few firms, each large enough to influence market price is ?

monopoly

monopolistic competition

oligopoly

perfect competition

46 / 50

Which of the following policy actions by a central bank is likely to increase the money supply ?

All of these will increase the money supply

Increasing the refinancing rate

Buying government bonds in open market operations

Increasing reserve requirements

47 / 50

Policy makers are said to ?accommodate? an adverse supply shock if they ?

respond to the adverse supply shock by increasing aggregate demand, which further raises prices

respond to the adverse supply shock by decreasing aggregate demand which lower prices

fail to respond to the adverse supply shock and allow the economy to adjust on its own.

respond to the adverse supply shock by decreasing short run aggregate supply

48 / 50

The formula to calculate economic growth from 2001 to 2002 is given by ?

[(GDP2001 ? GDP2002]100

[(GDP2002 ? GDP2001)/GDP2001]100

[(GDP2002 + GDP2001)/GDP2001]100

[(GDP2002 ? GDP2001) GDP2001]100

49 / 50

Feminist theory bas borrowed much of the ideas of________________?

conflict and Marxist theories

psychology

the ideology that tries to rationalize women ,s low position in society

The Feminine Mystique

50 / 50

Raising taxes and increasing welfare payments ?

improves efficiency at the expense of equity.

improves equity at the expense of efficiency.

Proves that there is such a thing as a free lunch

reduces market power

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