Question # 1

Industrial polices intended to foster comparative advantage for domestic industries could result in the implementation of.

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Research and development subsidies

Loan guarantees

Low interest rate loans

All of the above

Ad valorem tariffs are collected as

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Fixed amounts of money per unit traded

A percentage of the price of the product

A percentage of the quantity of imports

All of the above

Similar to import tariffs, import quotas tend to result in.

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Higher prices and reduced imports

Increasesed government revenue

Increased consumer surplus

Decrease producer surplus

Which of the following strategies have developing countries not used to deal with the problem of unstable expert markets.

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Multilateral contracts

Production and export controls

Buffer stock arrangements

Tariff rate quotes

The productivity curve

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Is given by the labor productively

Shows the change in real GDP per hour of labor as the amount of capital per hour labor changes

Shows the change in technology

Is given by the equation Y = F ( L,K, T)

The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.

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2%

3%

7%

4%

The central bank of a country plays a significant role in her macroeconomics performance by regulating the.

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Money supply

Supply credit

Interest rate

All of these

Personal inocme is obtained by adding which items to national income

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Govt. transfer payments

Business transfer payments

Both a and b

None of these

Negative taxation refers to.

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Tax rebate

Subsidies

Tax evasion

Tax avoidance

A purely monetary explanation of the business cycle is proposed by

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Hawtrey

Schumpeter

Hansen

None of these

Which of the following is automatic stabilizer.

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Unemployment benefits

Spending on education

Defense spending

Net interest

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