Question # 1

When the population is badly affected, which type of sampling is appropriate.

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Systematic sampling

Stratified sampling

Cluster sampling

None of the above

Expansion in money supply stems from.

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Increasing the cost of bank credit

Reducing availability of bank credit

Reducing the financial cost of bank credit

None of above

When supply increases in an agricultural market famer's earnings might fall because.

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Supply is price elastic

Demand is price inelastic

the government buys up all the excess production

All output must be sold at a maximum price

An increase in the price of a complement or produce.A would.

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Shift demand for product a out wants

Shift demand for product A inwards

shift supply for product A out wards

Shift supply for product A inwards

Economic development can be achieve through stages, is the theory of.

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Rosenstein Rodan

Leibstein

W.W. Rostow

M.P. Todaro

Given the demand function qo = -8p +2000 and tis inverse p = -1/8 qo + 250 ,p in the inverse function which is interpreted as the maximum price that buyers are willing to pay for the.

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Supply price

Demand price

Equilibrium price

Reserved price

What is embodies sampling.

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Haphazard selection

Numbers

Definite rules

Accuracy

The goal of a pure market economy is to best meet the desires of

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Consumers

Companies

Workers

The government

A 15% VAT is a.

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Proportional income tax

Fixed excise duty

Ad valorem indirect tax

None of the above

Non proportional random sampling is a sub type of.

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Unrestricted random sampling

Simple Random sampling

Stratified Random sampling

Cluster Random sampling

Currency speculations is_________ if speculators bet against market forces that cause exchange functions, thus moderating such fluclutions.

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Destabilizing

Stabilizing

Inflationary

Deflationary

Debit (-) items in the balance of payments correspond to anything that.

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Involve receipts from foreigners

Involves payments to foreigners

Increase the domestic money supply

Decrease the demand for foreign exchange

What technical terminology do economists use to refer to how much the money will multiply as this process unfolds.

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The multiplier

The money multiplier

Required reserve ratio

Open market operations

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

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Reduce output

Increase output

Leave output where it is.

Increase costs

The public sector includes.

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Investors owning companies

Government ownership of assets

Market forces of supply and demand

All trade via barter

A single value that represent the average characteristics of its frequency distribution.

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Quartiles

Grouped data

Central tendency

range

Which of the policies in the table above an increase in social welfare according to pareto efficiency.

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Policy A

Polies A and B

Policies A and D

Policies C a, -d D

Which among the following is not a merit of the census method.

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Results are representative

Information on rare events

Result are reliable

In appropriate method for enumeration

A straight line diagram can be drawn knowing the _______ and _____

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Vertical axis and horizontal axis

Intercept and slope

Scale and slope

Intercept and scale.

A concept which can take on different quantitative values is called a.

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Variables

Control groups

Values

paradigm

An oligopolistic industry can be characterized by all of the following except

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May sellers

mutual interdependence

Economies of scale

A homogenous product

The government budget surplus equals

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Government purchases plus transfers

Net government receipts minus government purchases

Government purchases minus net receipts

Government purchases minus transfers.

A recurring theme in economics is.

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People have unlimited wants in the face of limited resources

There are unlimited resources

Our country is rich, we just don't realize it

People have limited wants in the face of limited resource.

Indirect taxes are

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Direct taxes - subsidies

Subsidies

Sales taxes

Income taxes

Economic theory assumes that people

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Act in greedy and selfish ways, without regard for the welfare of others.

Act without regard for their own interests.

Are not motivated by self interest

Are motivated by self interest but still might be concerned for the welfare of others.

The philippic curve is the relation between inflation and unemployment that hold for a given natural rate of unemployment. and a

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Given rate of inflation

Given expected rate on inflation

Given level of unemployment

Given expected level of unemployment

The demand for labor slopes down and to the right because of.

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The law of demand

The iron law of wages

The law of diminishing marginal returns

Economies of scale

Injection into the circular flow are _________ and _______

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Consumption, investment, exports

Investment exports, transfer payments

Investment government expenditure, exports.

Taxes, exports, transfer payments.

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

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3>2>1

3 +2>1

3<2<1

Any measure can be larger or smaller than any other

A normal good can be defined as one which consumers purchase more of as.

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Price fall

Price rise

Income fall

Incomes increase

An increase in aggregate demand is more likely to lead to demand pull inflation if.

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Aggregate supply is perfectly elastic

Aggregate supply is perfectly inelastic

Aggregate supply is unit elastic

Aggregate supply is relatively elastic

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