economics Mcqs
1. the national economy2. profit maximizing under perfect competition and monopoly3. application of economics4. the aggregate demand aggregate supply model5. surplus6. money interest rates and output7. average and total cost8. stabilization adjustment reform and privatization9. risks and diversification efficient market hypothesis10. the phillips curve11. supply and demand12. capital formation investment choice information technology and technical progress13. aggregate supply unemployment and inflation14. elasticity15. comparative gdp16. roots of modern macroeconomics17. production factors18. poverty malnutrition and income inequality19. trade regulations and industrial policies20. monetary union21. exchange rate systems and currency crises22. economic development in historical perspective23. exchange rate determination24. monopoly competition25. the balance of payments26. inflation productivity27. macroeconomic issues and analysis28. employment migration and urbanization29. macroeconomic policy tools30. supply side policies31. exchange rate adjustments and the balance of32. miscellaneous33. taxation34. trade policies for the developing nations35. markets efficiency and the public interest36. the external debt and financial crises37. budget deficits and the trade balance38. alternative theories of the firm39. public goods40. the meaning and measurement of economic development41. characteristics and institutions of developing countries42. agriculture irrigation system of pakistan43. education health and human capital44. economic problems of developing countries45. theories of economic development46. basic of economics47. consumer theory vs real consumers48. applied microeconomics49. long term economic growth50. externality internality51. fiscal and monetary policy52. prices wages taxes53. balance of payments aid and foreign investment54. international factor movements and multinational corporations55. entrepreneurship organization and innovation56. the international economy and globalization57. population and development58. non tariff trade barriers59. foundations of modern trade theory60. global economic development61. market62. rural poverty and agricultural transformation63. regional trading arrangements64. foreign exchange65. introduction to economics66. world economy miscellaneous67. sources of comparative advantage68. natural resources and the environment toward sustainable development69. monopoly70. asymmetric information71. income inequality72. labour market73. tariffs74. development planning and policy making the state and the market75. oligopoly76. industrial development77. costs supply and perfect competition78. human capital79. monetary fiscal and incomes policy and inflation80. stocks
6801. Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?
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A. relatively low import tariffs maintained by advanced countries

B. highly elastic demand for these products in advanced countries

C. sluggish demand for these products in advanced countries

D. declines in the supplies of these products on world markets

6802. Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?
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A. World Bank

B. Council on Foreign Relations

C. International Monetary Fund

D. Organization of petroleum Exporting Countries

6803. Among the institutions and policies that have been created to support developing countries are?
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A. The Generalized System of Preferences

B. All of the above

C. the international Monetary Fund

D. the world Bank

6804. Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
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A. sell 8 million pounds of tin

B. sell 4 million pounds of tin

C. buy 8 million pounds of tin

D. buy 4 million pounds of tin

6805. A widely used indicator to differentiate developed countries from developing countries is ?
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A. unemployment per capita

B. real income per capital

C. calories per capita

D. international trade per capita

6806. Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?
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A. lower

B. None of the above

C. about the same height

D. higher
6807. To stabilize the prices of primary products international commodity agreements have utilized all of the following except ?
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A. buffer stocks

B. production and export controls

C. multilateral contracts

D. tariff-rate quotas applied to imported goods
6808. Because supply and demand conditions for primary products are very price inelastic their prices ?
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A. tend to be very unstable from year to year

B. have been steadily rising in recent decades

C. have been more stable than the prices of manufactured goods

D. fluctuate about as much as the prices of manufactured goods

6809. The Peoples Republic of China ?
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A. has always accounted for a significant share of international trade, given its very large population

B. has retained to the present time its strategy of import substitution as a source of economic growth

C. is the first of the East Asian countries to be recognized for a successful outward-oriented development strategy

D. has significantly increased its openness to international trade and foreign investment in recent decades
6810. Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?
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A. inelastic demand for these products in advanced countries

B. large increases in the supplies of these products on world markets because of export expansion policies

C. sluggish demand for these products in advanced countries

D. All of the above
6811. To be considered a a good candidate for an export cartel, a commodity should ?
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A. be a primary product

B. have high price elasticity of supply

C. have a low price elasticity of demand

D. be a manufactured goods

6812. Concerning tariff policy, the United States does not charge?
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A. lower tariff rates on goods from nations with normal trade relation status

B. identical tariff rates in products from all countries of the world

C. lower tariff rates on goods from nations with most favored nation status

D. low or zero tariffs on goods from certain developing countries

6813. The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?
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A. similar cost schedules for member countries

B. highly inelastic world demand curve for oil

C. economic recession for oil importing nations

D. a lack of substitutes for oil

6814. Membership in the World Trade Organization for china ?
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A. has been opposed by a number of labor and human rights organizations in other countries

B. has been a matter of low priority for the Chinese government

C. was achieved in the early 1950s

D. has had negligible effect on trade between china and the United States

6815. To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
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A. multilateral contract program

B. export-led growth program

C. international commodity agreements program

D. generalized system of preferences program
6816. The Generalized System of Preferences (GSP) program allows ?
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A. any developing country to ignore the most-favored nation clause

B. any advanced country to ignore the most favored-nation clause

C. developing country export to advanced countries to receive preferential tariff treatment

D. developing country imports from advanced countries to receive preferential tariff treatment

6817. Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
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A. sell 8 million pounds of tin

B. sell 4 million pounds of tin

C. buy 8 million pounds of tin

D. buy 4 million pounds of tin
6818. To be considered a good candidate for export cartel, a commodity should ?
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A. have a high price elasticity of demand

B. be a manufactured good

C. have a low price elasticity of supply

D. be a primary product

6819. Export-led growth strategies tend to emphasize ?
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A. resource allocation based on the principle of comparative advantage

B. resource allocation based on the principle of absolute advantage

C. trade protection for import-competing firms

D. trade protection for exporting-competing firms

6820. For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?
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A. price inflation

B. improving terms of trade

C. balance of trade deficits

D. constrained economic growth

6821. An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the worlds producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?
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A. relatively large; easier

B. relatively small; more difficult

C. relatively small; easier

D. relatively large; more difficult

6822. Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________?
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A. $100, 2 million barrels per day $60 million

B. $80, 4 million barrels per day $70 million

C. $40, 8 million barrels per day, $0 million

D. $60, 6 million barrels per day, $20 million

6823. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
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A. purchase; decrease

B. purchase; increase

C. sell; decrease

D. sell; increase
6824. The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
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A. export orientation

B. commodity expansion

C. flying geese

D. import substitution

6825. 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?
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A. the same as

B. relatively less than

C. any of the above

D. relatively greater then
6826. Economic growth occurs because ?
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A. labor forces increase

B. capital stocks increase

C. All of the above

D. new inventions increase productivity

6827. All of the following are trade problems of developing countries except?
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A. improving terms of trade

B. highly elastic demand curves for their products

C. unstable export markets

D. limited access to the markets of industrial countries

6828. Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?
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A. 2 million barrels per day, $100, $60 million

B. 6 million barrels per day, $60, $60 million

C. 4 million barrels per day, $80, $160 million

D. 8 million barrels per day, $40, $20 million

6829. Most of developing-country exports consist of ?
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A. labor-intensive agricultural products

B. primary products such as tin and bauxite

C. labor-intensive manufacturing products

D. intermediate products

6830. Which of the following strategies have developing countries not used to deal with the problem of unstable export markets ?
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A. production and export controls

B. multilateral contracts

C. tariff-rates quotas

D. buffer stock arrangements

6831. The OPEC oil cartel ?
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A. has shown that is easy to achieve cooperation among cartel members

B. was successful in raising oil prices in the 1970s but was disbanded in the 1980s

C. has shown greater success in realizing profits during periods of global recession

D. has had a level of success in raising oil prices that other developing countries are unlikely to achieve with other primary commodities
6832. _________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?
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A. absolute advantage

B. export-led growth

C. comparative advantage

D. import substitution
6833. Import substitution is an example of ?
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A. the principle of absolute advantage

B. an outward-looking growth strategy

C. the principle of comparative advantage

D. an inward-looking growth strategy
6834. Which industrialization policy have developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation ?
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A. export promotion

B. international commodity agreements

C. import promotion

D. multilateral contracts

6835. The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?
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A. most favored nation status

B. Generalized System of Preferences

C. normal trade relation status

D. offshore assembly provisions

6836. Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
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A. the same as

B. relatively less than

C. Any of the above

D. relatively greater than

6837. An example of public good is ?
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A. a beautifully landscaped lawn.

B. a book

C. a public utility.

D. preservation of wetlands
6838. In terms of execution style a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising ?
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A. Lifestyle

B. Mood or imagery

C. Slice of life

D. Personality symbol

6839. One common misuse of marketing research findings in contemporary business is the tendency for marketing research tp ?
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A. become a vehicle for pitching the sponsors products

B. become a means of unfair competition

C. become a means for raising prices

D. become a vehicle for pitching the sponsors products

6840. Externalities are a problem only if ?
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A. the externalities are negative

B. decision makers do not take them into account

C. all firms are perfectly competitive

D. all firms are monopolistic

6841. ______ includes practices such as overstating the products features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?
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A. Deceptive cost structure

B. Deceptive packaging

C. Deceptive promotion

D. Deceptive pricing

6842. The American Marketing Association suggests a list of code of ethics All of the following are ethics suggested in the area of distribution EXCEPT ?
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A. not manipulating the availability of a product for purpose of explotation

B. not using coercion in the marketing channel

C. not exerting undue influence over the resellers choice to handle a product

D. using gray marketers whenever possible to save the consumer money
6843. If Mark Mars pays Hershey Foods Corporation for the right to use their name on his line of T-shirts then Mr. Mars is using which type of branding ?
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A. Manufacturers brand

B. Licensed brands

C. Co-brand

D. Private brand

6844. When Coca-Cota and Nestle formed joint venture to market a ready to drink coffee and tea worldwide the type of marketing system that was formed would best be described as being a(n)?
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A. horizontal marketing system

B. diversified marketing system

C. vertical marketing system

D. parallel marketing system

6845. ___________ is a strategy of using a successful brand name to launch a new of modified product in a new category ?
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A. Line extension

B. Duobranding

C. Multibranding

D. Brand extension
6846. ________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics or behavior who might require separate products or marketing mixes?
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A. Market positioning

B. Product differentiation

C. Market targeting

D. Market segmentation
6847. Pricing to cover variable costs and some fixed costs as in the case of some automobile distributorships that sell below total costs is typical of which of the following pricing objectives ?
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A. product quality leadership

B. Survival

C. current profit maximization

D. Market share leadership

6848. In evaluating messages for advertising telling how the product is better than the competing brands aims at making the ad ?
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A. distinctive

B. remembered

C. meaningful

D. believable

6849. The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?
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A. firms are not price takers in the output market

B. all of the above

C. households do not have perfect information

D. firms are not price takers in input markets

6850. The type of sales presentation approach that requires good listening and problem-solving skills is the ?
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A. canned approach

B. critical-thinking approach

C. need-satisfaction approach

D. formula appraoch