1 - "Economics is the study of causes of material welfare" was defined by___________________?
1 - "Economics is the study of causes of material welfare" was defined by___________________?
Marshall
2 - __________________provides an overview of the operation of the capitalist system ?
2 - __________________provides an overview of the operation of the capitalist system ?
Circular flow model
3 - ______________assumes economic rationality and purely materialistic, individualistic, self interested orientation towards economic decision making?
3 - ______________assumes economic rationality and purely materialistic, individualistic, self interested orientation towards economic decision making?
Traditional economy
4 - A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ?
4 - A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ?
None
5 - A barrier to the attainment of a set target in a particular period of time?
5 - A barrier to the attainment of a set target in a particular period of time?
Economic inefficient
6 - A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?
6 - A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?
Spill over
7 - A closed economy that attempts to be completely self-reliant ?
7 - A closed economy that attempts to be completely self-reliant ?
Autarchy
8 - A commercial bank authorized by state govt. to engage in business of banking ?
8 - A commercial bank authorized by state govt. to engage in business of banking ?
State Bank
9 - A compensation device through which workers receive part of their pay in the form of share of their employer€™s profit___________________?
9 - A compensation device through which workers receive part of their pay in the form of share of their employer€™s profit___________________?
Profit sharing plan
10 - A condition when there is excessive produce in the market which lowers down the price is called__________________?
10 - A condition when there is excessive produce in the market which lowers down the price is called__________________?
Market glut
11 - A cooperative farm or other collectively organized unit ?
11 - A cooperative farm or other collectively organized unit ?
Corporation
12 - A country€™s potential for economic growth is greatly influenced by its endowments of__________________?
12 - A country€™s potential for economic growth is greatly influenced by its endowments of__________________?
Both a and b
13 - A course of action indented to correct or avoid a problem_________________?
13 - A course of action indented to correct or avoid a problem_________________?
Economic policy
14 - A curve showing the distribution of income in an economy___________________?
14 - A curve showing the distribution of income in an economy___________________?
Lorenz curve
15 - A debit which monitory value, an amount awed by a firm or an individual___________________?
15 - A debit which monitory value, an amount awed by a firm or an individual___________________?
Liability
16 - A decrease in the governmentally defined value of currency ____________________?
16 - A decrease in the governmentally defined value of currency ____________________?
Devaluation
17 - A deliberate effort to replace major consumer imports by promoting the emergence and expansion of domestic industries such as textile, shoes etc ?
17 - A deliberate effort to replace major consumer imports by promoting the emergence and expansion of domestic industries such as textile, shoes etc ?
Import substitution
18 - A demand curve shifts because of change is_____________________?
18 - A demand curve shifts because of change is_____________________?
All of these
19 - A federal budget deficit caused by a recession and a consequent decline in tax revenues ?
19 - A federal budget deficit caused by a recession and a consequent decline in tax revenues ?
Cyclical deficit
20 - A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?
20 - A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?
Micro economic
21 - A firm which engages in in the busyness of banking_________________?
21 - A firm which engages in in the busyness of banking_________________?
Commercial bank
22 - A good and service is indivisible and to which the exclusion principle does apply is called_________________?
22 - A good and service is indivisible and to which the exclusion principle does apply is called_________________?
Public good
23 - A good used together with another good is___________________?
23 - A good used together with another good is___________________?
Complementary good
24 - A group of firms which produces identical or similar products__________________?
24 - A group of firms which produces identical or similar products__________________?
Industry
25 - A household€™s or firm€™s income in the form of goods or services ?
25 - A household€™s or firm€™s income in the form of goods or services ?
Fixed income
26 - A labour union which limits its membership to workers with a particular skill ?
26 - A labour union which limits its membership to workers with a particular skill ?
Credit union
27 - A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?
27 - A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?
Development economics
28 - A legal entry chartered by a state or the federal govt. which is district and separate from the individuals who own it ?
28 - A legal entry chartered by a state or the federal govt. which is district and separate from the individuals who own it ?
Corporation
29 - A legally determined price above the equilibrium price is__________________?
29 - A legally determined price above the equilibrium price is__________________?
Floor price
30 - A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?
30 - A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?
Budget line
31 - A market in which money of one nation can be used to purchase the money of other nation is called____________________?
31 - A market in which money of one nation can be used to purchase the money of other nation is called____________________?
Foreign exchange market
32 - A market in which products are sold by firms and bought by households is_________________?
32 - A market in which products are sold by firms and bought by households is_________________?
Product market
33 - A market in which products households sell and firms buy resources or the services of resources is__________________?
33 - A market in which products households sell and firms buy resources or the services of resources is__________________?
Resource market
34 - A market situation in which a product that does not have close substitutes is being produced and sold by a single seller?
34 - A market situation in which a product that does not have close substitutes is being produced and sold by a single seller?
Perfect competition
35 - A measure of average output or real output per unit of input is called____________________?
35 - A measure of average output or real output per unit of input is called____________________?
Productivity
36 - A measure of the real purchasing power of the community ?
36 - A measure of the real purchasing power of the community ?
All
37 - A minimum price which govt. allows seller to receive for a good or service____________________?
37 - A minimum price which govt. allows seller to receive for a good or service____________________?
Supprot Price
38 - A particular set of institutional arrangement and a coordinating mechanism is___________________?
38 - A particular set of institutional arrangement and a coordinating mechanism is___________________?
Economic system
39 - A payment of funds by a govt. firm or house hold for which it receives no goods or services in return?
39 - A payment of funds by a govt. firm or house hold for which it receives no goods or services in return?
Subsidy
40 - A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?
40 - A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?
Transfer payment
41 - A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?
41 - A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?
Plant
42 - A process of production that uses a higher proportion of capital as compared to other factors of production ?
42 - A process of production that uses a higher proportion of capital as compared to other factors of production ?
Both a and b
43 - A ratio that shows the unit of capital required to produce a unit of output over a given period of time?
43 - A ratio that shows the unit of capital required to produce a unit of output over a given period of time?
Capital input ratio
44 - A rise in the general level of prices in an economy___________________?
44 - A rise in the general level of prices in an economy___________________?
Inflation
45 - A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
45 - A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
Consumption schedule
46 - A section in a nation€™s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ?
46 - A section in a nation€™s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ?
Current account
47 - A simplified picture of economic reality, an abstract generalization ?
47 - A simplified picture of economic reality, an abstract generalization ?
Economic model
48 - A summary statement of a nations financial transactions with the outside world ?
48 - A summary statement of a nations financial transactions with the outside world ?
Balance of payments
49 - A supply curve shifts because of change in_____________________?
49 - A supply curve shifts because of change in_____________________?
The price of the related products
50 - A tax imposed by a nation on an imported good is called_________________?
50 - A tax imposed by a nation on an imported good is called_________________?
Tariff
51 - A tax levied on the cost of a board group of products______________________?
51 - A tax levied on the cost of a board group of products______________________?
Sales tax
52 - A tax which is a constant amount at all levels of GDP is termwd as ?
52 - A tax which is a constant amount at all levels of GDP is termwd as ?
Lump sum tax
53 - A technological innovation that increase the production while using the same capital input?
53 - A technological innovation that increase the production while using the same capital input?
Production intensive technique
54 - A term used by ILO to describe the basic goods and services necessary for a minimum standard of living ?
54 - A term used by ILO to describe the basic goods and services necessary for a minimum standard of living ?
Basic needs
55 - A type of unemployment caused by insufficient total spending___________________?
55 - A type of unemployment caused by insufficient total spending___________________?
Cyclical unemployment
56 - A type of unemployment used by workers voluntarily changing jobs and by temporary layoffs; unemployment workers between jobs?
56 - A type of unemployment used by workers voluntarily changing jobs and by temporary layoffs; unemployment workers between jobs?
Frictional employment
57 - Activities of central bank designed to influence financial variables such as money supply and interest rates?
57 - Activities of central bank designed to influence financial variables such as money supply and interest rates?
None
58 - Advantage that occurs to individual or society as a whole as a result of increase in the consumption of certain types of goods or services by other individuals ?
58 - Advantage that occurs to individual or society as a whole as a result of increase in the consumption of certain types of goods or services by other individuals ?
Consumption surplus
59 - Aggregate inequality measures that can vary anywhere from O (perfect equality) to 1 (perfect inequality) are given by________________?
59 - Aggregate inequality measures that can vary anywhere from O (perfect equality) to 1 (perfect inequality) are given by________________?
Gini co-efficient
60 - Agriculture contribution in GNP of developing nations ?
60 - Agriculture contribution in GNP of developing nations ?
0.03
61 - Agriculture contribution in GNP of developing nations?
61 - Agriculture contribution in GNP of developing nations?
0.14
62 - All goods and services produced in a country in one year are called its__________________?
62 - All goods and services produced in a country in one year are called its__________________?
GDP
63 - All international changes in ownership of merchandise passing across the customs borders of trading countries?
63 - All international changes in ownership of merchandise passing across the customs borders of trading countries?
International trade laws
64 - All LDC€™s require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure. ?
64 - All LDC€™s require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure. ?
Big Push theory of development
65 - All points on the production possibility curve explain__________________?
65 - All points on the production possibility curve explain__________________?
Productive efficiency
66 - All seem fully employed but in reality much of their time is spent in unproductive activities?
66 - All seem fully employed but in reality much of their time is spent in unproductive activities?
Underemployment
67 - All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?
67 - All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?
GNP
68 - Allocative efficiency is__________________?
68 - Allocative efficiency is__________________?
Producing all output combinations in least costly way
69 - Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________?
69 - Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________?
Opportunity cost
70 - An accounting item which decreases the value of an asset___________________?
70 - An accounting item which decreases the value of an asset___________________?
Debit
71 - An accounting item which increase the value of an asset___________________?
71 - An accounting item which increase the value of an asset___________________?
Credit
72 - An agreement among sellers of a commodity to set a common price or share their commodity market?
72 - An agreement among sellers of a commodity to set a common price or share their commodity market?
Oligopoly
73 - An analytic approach in which we move from facts to theory, from a particular to general is called____________________?
73 - An analytic approach in which we move from facts to theory, from a particular to general is called____________________?
Induction
74 - An analytic approach in which we move from general to particular from theory to facts is_________________?
74 - An analytic approach in which we move from general to particular from theory to facts is_________________?
Deduction
75 - An asset set aside for future use is termed as_______________________?
75 - An asset set aside for future use is termed as_______________________?
Store of value
76 - An economic plan that sets targets to cover all the major sectors of the national economy?
76 - An economic plan that sets targets to cover all the major sectors of the national economy?
Comprehensive plan
77 - An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?
77 - An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?
Pure capitalism
78 - An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
78 - An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
Command economy
79 - An economic system in which traditions and customs determine how the economy would use its scare resources ?
79 - An economic system in which traditions and customs determine how the economy would use its scare resources ?
Traditional economy
80 - An essentially risk free, long term interest rate which is free of the influence of market imperfections?
80 - An essentially risk free, long term interest rate which is free of the influence of market imperfections?
Pure rate of interest
81 - An increase either in real output (GDP) or in real output per capita is called___________________?
81 - An increase either in real output (GDP) or in real output per capita is called___________________?
Economic growth
82 - An index measuring national socioeconomic development based on measures of life expectancy at birth, educational attainment and adjusted per capital income ?
82 - An index measuring national socioeconomic development based on measures of life expectancy at birth, educational attainment and adjusted per capital income ?
Human poverty index
83 - An individuals demand curve is down sloping because_____________________?
83 - An individuals demand curve is down sloping because_____________________?
Price and quantity demanded are inversely related
84 - An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?
84 - An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?
Declining industry
85 - An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?
85 - An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?
Decreasing cost industry
86 - An institution or mechanism which brings together buyers and sellers is called____________________?
86 - An institution or mechanism which brings together buyers and sellers is called____________________?
Market
87 - An interest bearing deposit which normally can be withdrawn by the depositor at any time ?
87 - An interest bearing deposit which normally can be withdrawn by the depositor at any time ?
Saving deposit
88 - An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?
88 - An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?
Tax
89 - An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?
89 - An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?
Cartel
90 - An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?
90 - An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?
Firm
91 - An ownership share in a corporation___________________?
91 - An ownership share in a corporation___________________?
Both
92 - Any financial institution that serves to channel loan able funds savers to borrowers?
92 - Any financial institution that serves to channel loan able funds savers to borrowers?
Both
93 - Any point inside the production possibility curve represents ?
93 - Any point inside the production possibility curve represents ?
Both A and B.
94 - Any resource whose quantity can not be changed by a firm in the short run_______________?
94 - Any resource whose quantity can not be changed by a firm in the short run_______________?
Fixed resource
95 - Any system that features one price for sellers and another for buyers ?
95 - Any system that features one price for sellers and another for buyers ?
Dual price system
96 - Building of new factories in particular nation by corporations of other nations ?
96 - Building of new factories in particular nation by corporations of other nations ?
Direct foreign investment
97 - Change in quantity demanded is______________________?
97 - Change in quantity demanded is______________________?
Movement from one point to the other on the same demand curve
98 - Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___________________?
98 - Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___________________?
Fiscal policy
99 - Changing the term of existing loan________________?
99 - Changing the term of existing loan________________?
Debt repudiation
100 - Colostrums to the young born calf should be given by ___________________________ ?
100 - Colostrums to the young born calf should be given by ___________________________ ?
1/10th of body wt.
101 - Commodities whose demand varies directly with money income are called______________________?
101 - Commodities whose demand varies directly with money income are called______________________?
Superior or normal goods
102 - Cooperation among unification of the economies of different nations is termed as_____________________?
102 - Cooperation among unification of the economies of different nations is termed as_____________________?
Economic integration
103 - Determinant of supply is__________________?
103 - Determinant of supply is__________________?
All
104 - determinants of demand are some times referred as__________________________?
104 - determinants of demand are some times referred as__________________________?
Demand shifters
105 - Directing domestic resources to output which a nation is highly efficient at producing is called____________________?
105 - Directing domestic resources to output which a nation is highly efficient at producing is called____________________?
International specialization
106 - Discount rate that causes a project to have a net present value of zero used to rank projects in comparison with market rates of interest?
106 - Discount rate that causes a project to have a net present value of zero used to rank projects in comparison with market rates of interest?
Internal rate or returns
107 - Economic model describing growth of the economy on one or at most a few sectors and variables?
107 - Economic model describing growth of the economy on one or at most a few sectors and variables?
Aggregate growth model
108 - Employment available resources so that the maximum amount of goods and services is produced?
108 - Employment available resources so that the maximum amount of goods and services is produced?
Full production
109 - Excess of total revenue over total costs_______________?
109 - Excess of total revenue over total costs_______________?
Both
110 - Excess utility over price derived by the consumers because of negative sloping demand curve ?
110 - Excess utility over price derived by the consumers because of negative sloping demand curve ?
Producer surplus
111 - Failure to achieve full production is called ?
111 - Failure to achieve full production is called ?
Under employment
112 - Failure to use all available economic resources to produce goods and services is called__________________?
112 - Failure to use all available economic resources to produce goods and services is called__________________?
Unemployment
113 - From of central bank that issues domestic currency for foreign exchange at fixed rates ?
113 - From of central bank that issues domestic currency for foreign exchange at fixed rates ?
Stock exchange
114 - gestation period of cow is ________________________?
114 - gestation period of cow is ________________________?
282 ± 10 days
115 - Gradual pay off a loan principle ?
115 - Gradual pay off a loan principle ?
Amortization
116 - Group of LDC debtors who join together to bargain as a group with creditors?
116 - Group of LDC debtors who join together to bargain as a group with creditors?
Economic union
117 - Hitler introduced ?
117 - Hitler introduced ?
Authoritarian economy
118 - In ___________________ we avoid value judgments and focus on facts?
118 - In ___________________ we avoid value judgments and focus on facts?
Positive economics
119 - In developed countries children are€¦.% of the total population ?
119 - In developed countries children are€¦.% of the total population ?
0.21
120 - In developed countries manufactured goods are about ________________% of total export?
120 - In developed countries manufactured goods are about ________________% of total export?
0.82
121 - In LDC children under age of 15 years are ___________% of the total population?
121 - In LDC children under age of 15 years are ___________% of the total population?
0.4
122 - In least developed nations dependent children are__________________?
122 - In least developed nations dependent children are__________________?
0.9
123 - In less developed nations economic dependency burden is__________________?
123 - In less developed nations economic dependency burden is__________________?
45 % of the population
124 - In richer nations children are______________% of the dependents?
124 - In richer nations children are______________% of the dependents?
0.66
125 - In________________ economics we look at desirability of certain aspects of the economy ?
125 - In________________ economics we look at desirability of certain aspects of the economy ?
Normative
126 - Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?
126 - Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?
Disposable income
127 - Increase in the price level at a rate greater than expected ?
127 - Increase in the price level at a rate greater than expected ?
Unanticipated
128 - Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?
128 - Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?
Demand pull inflation
129 - Increasing a country€™s stock of real capital (net investment in fixed essels)__________________?
129 - Increasing a country€™s stock of real capital (net investment in fixed essels)__________________?
Capital accumulation
130 - Index measuring deprivation in basic human development in a country ?
130 - Index measuring deprivation in basic human development in a country ?
Human deprivation index
131 - International resources shared by all countries e.g ocean, air etc?
131 - International resources shared by all countries e.g ocean, air etc?
Global environment facility
132 - Labour force engage in Agriculture in economically developed nations ?
132 - Labour force engage in Agriculture in economically developed nations ?
0.05
133 - Legally established maximum price of a good or service__________________?
133 - Legally established maximum price of a good or service__________________?
Ceiling price
134 - Loans not passed through formal banking system e.g. family loans?
134 - Loans not passed through formal banking system e.g. family loans?
Med term loans
135 - Major financial institution responsible for issuing currency, managing foreign reserves implementing monetary policy and providing banking service to the govt. and commercial banks ?
135 - Major financial institution responsible for issuing currency, managing foreign reserves implementing monetary policy and providing banking service to the govt. and commercial banks ?
State Bank
136 - Mastitis is an infection in cows and its affects the _____________________________?
136 - Mastitis is an infection in cows and its affects the _____________________________?
Udder
137 - Meaningful statement about the economic behavior or the economy is called_______________________?
137 - Meaningful statement about the economic behavior or the economy is called_______________________?
Both
138 - Monopoly and oligopoly are the examples of___________________?
138 - Monopoly and oligopoly are the examples of___________________?
Imperfect competition
139 - Noble prize of Economics in 1979 was awarded to________________?
139 - Noble prize of Economics in 1979 was awarded to________________?
Both a and b
140 - Nominal income adjusted for inflation__________________?
140 - Nominal income adjusted for inflation__________________?
Real income
141 - Nonproductive members of society are referred to as___________________?
141 - Nonproductive members of society are referred to as___________________?
Economic dependency burden
142 - Number of peoples and their level of skills is called as________________?
142 - Number of peoples and their level of skills is called as________________?
Human resources
143 - Obtaining the socially optimal amounts of goods and services using minimum necessary resources ?
143 - Obtaining the socially optimal amounts of goods and services using minimum necessary resources ?
All
144 - Opportunity cost is illustrated by the___________________?
144 - Opportunity cost is illustrated by the___________________?
Downward slope
145 - Other thing remain the same as price rises, the corresponding quantity supplied rises, as price falls the quantity supplied falls is___________________?
145 - Other thing remain the same as price rises, the corresponding quantity supplied rises, as price falls the quantity supplied falls is___________________?
Law of supply
146 - People both rural and urban who are working less than they could___________________?
146 - People both rural and urban who are working less than they could___________________?
Under employment
147 - People who are eager and able to work but for whom no suitable jobs are available?
147 - People who are eager and able to work but for whom no suitable jobs are available?
Open unemployment
148 - Power of a good/ service to satisfy human desire/want is called____________________?
148 - Power of a good/ service to satisfy human desire/want is called____________________?
Utility
149 - Private or public debt owed to foreign citizens firms and institutions ?
149 - Private or public debt owed to foreign citizens firms and institutions ?
External debt
150 - Problems that occur to the individuals or society as a whole as a result of the unpopular consumption habits. Of another individual e.g drug addiction ?
150 - Problems that occur to the individuals or society as a whole as a result of the unpopular consumption habits. Of another individual e.g drug addiction ?
Commune
151 - Production possibility curve is always concave because ?
151 - Production possibility curve is always concave because ?
In reflects the law of increasing opportunity cost
152 - Productive efficiency means___________________?
152 - Productive efficiency means___________________?
Producing all output combinations in the least costly way
153 - Productive investments embodied in human persons?
153 - Productive investments embodied in human persons?
Human capital
154 - Proportion of school aged children who don€™t complete a particular school cycle ?
154 - Proportion of school aged children who don€™t complete a particular school cycle ?
Dropout rate
155 - Rates of open unemployment in developing world average ?
155 - Rates of open unemployment in developing world average ?
8-15%
156 - Recurring increase and decrease in the level of economic activity over periods of years?
156 - Recurring increase and decrease in the level of economic activity over periods of years?
Business cycle
157 - Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?
157 - Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?
Both of these
158 - Respiration rate in sheep is __________________________?
158 - Respiration rate in sheep is __________________________?
15 -30 /min
159 - Rural based population in developed countries___________________?
159 - Rural based population in developed countries___________________?
0.27
160 - Rural based population in less developed countries (LDC€™s) ?
160 - Rural based population in less developed countries (LDC€™s) ?
0.65
161 - Selling public assets to individuals or private business interests ?
161 - Selling public assets to individuals or private business interests ?
Privatization
162 - Separating a young calf from its mother from milking/sucking is called _____________________?
162 - Separating a young calf from its mother from milking/sucking is called _____________________?
Weaning
163 - Situation in which govt. intervention in an economy worsens outcomes__________________?
163 - Situation in which govt. intervention in an economy worsens outcomes__________________?
Govt. inefficiency
164 - Stage of growth model development was porposed by____________________?
164 - Stage of growth model development was porposed by____________________?
Rostow
165 - Stocks of commodities held by the countries or international organizations to moderate the commodities price fluctuations ?
165 - Stocks of commodities held by the countries or international organizations to moderate the commodities price fluctuations ?
Buffer stocks
166 - structural transformation of primary subsistence economy for economic development war proposed by ?
166 - structural transformation of primary subsistence economy for economic development war proposed by ?
Arthur Lewis
167 - Sum total of currency in circulation plus commercial bank demand deposits and sometimes savings bank time deposits?
167 - Sum total of currency in circulation plus commercial bank demand deposits and sometimes savings bank time deposits?
National income
168 - Tax levied on production of specific product on quantity of product purchased ?
168 - Tax levied on production of specific product on quantity of product purchased ?
Excise tax
169 - Technologies that by design produce less waste and use resources more efficiently ?
169 - Technologies that by design produce less waste and use resources more efficiently ?
Efficient technology
170 - The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?
170 - The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?
Rationing function of the price
171 - The absence of artificial barriers to trade among individuals and firms in different nations ?
171 - The absence of artificial barriers to trade among individuals and firms in different nations ?
Free trade
172 - The activity of buying or selling with the motive of later reselling or re buying for profit is called ?
172 - The activity of buying or selling with the motive of later reselling or re buying for profit is called ?
Speculation
173 - The amount by which a nation€™s export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?
173 - The amount by which a nation€™s export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?
Trade surplus
174 - The amount by which a nation€™s import of goods (or goods and services) exceeds its export of goods or goods and services is________________?
174 - The amount by which a nation€™s import of goods (or goods and services) exceeds its export of goods or goods and services is________________?
Trade deficit
175 - The annual amount that a borrower must pay a lender over an above the total borrowed ?
175 - The annual amount that a borrower must pay a lender over an above the total borrowed ?
Interest
176 - The attainment of literacy, arithmetic competence and elementary vocational skills ?
176 - The attainment of literacy, arithmetic competence and elementary vocational skills ?
Basic education
177 - The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?
177 - The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?
Technology
178 - The branch of economics which analyze govt. revenues and expenditures is__________________?
178 - The branch of economics which analyze govt. revenues and expenditures is__________________?
Public finance
179 - The coordinating mechanism of capitalism is a system of___________________?
179 - The coordinating mechanism of capitalism is a system of___________________?
Market and prices
180 - The core value of development is________________?
180 - The core value of development is________________?
All
181 - The currency of a major industrial country, such as the U.S dollar___________________?
181 - The currency of a major industrial country, such as the U.S dollar___________________?
Hard currency
182 - The demand schedule or the demand curve of all buyers of a good or service is called____________________?
182 - The demand schedule or the demand curve of all buyers of a good or service is called____________________?
Both
183 - The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ?
183 - The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ?
Centralized planning
184 - The emigration of highly skilled and educated professionals and technical man power from developing to developed countries?
184 - The emigration of highly skilled and educated professionals and technical man power from developing to developed countries?
Brain Drain
185 - The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?
185 - The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?
Trade surplus
186 - The extreme case of physical resource endowment is ________________?
186 - The extreme case of physical resource endowment is ________________?
Gulf oil states
187 - The gradual decline over time in the value or price of one currency in terms of another as a result of market forces of supply and demand ?
187 - The gradual decline over time in the value or price of one currency in terms of another as a result of market forces of supply and demand ?
Rightsizing
188 - The highest milk producing cattle in the world is ______________________?
188 - The highest milk producing cattle in the world is ______________________?
Holstein Friesian
189 - The households and the business firms of the economy are called__________________?
189 - The households and the business firms of the economy are called__________________?
Ptivate sector
190 - The implicit change in real income resulting from the effects of a change in a commodity€™s price on quantity demand?
190 - The implicit change in real income resulting from the effects of a change in a commodity€™s price on quantity demand?
Labour effect
191 - The increasing integration of national economies into expanding international market ?
191 - The increasing integration of national economies into expanding international market ?
Globalization
192 - The intersection of the supply curve and demand curve indicates ?
192 - The intersection of the supply curve and demand curve indicates ?
Market equilibrium
193 - The investment of private foreign funds in the economy of a developing nation?
193 - The investment of private foreign funds in the economy of a developing nation?
Private foreign investment
194 - The monetary payment a firm must make to an outsider to obtain a resource____________________?
194 - The monetary payment a firm must make to an outsider to obtain a resource____________________?
Explicit cost
195 - The monitory income a firm sacrifices when it uses a resource it rosins rather than supplying the resource in the market ?
195 - The monitory income a firm sacrifices when it uses a resource it rosins rather than supplying the resource in the market ?
Implicit cost
196 - The number of children who die before their first birthday out of every 1,000 live births?
196 - The number of children who die before their first birthday out of every 1,000 live births?
Infant mortality rate
197 - The part of economy which contains all govt. entities is called__________________?
197 - The part of economy which contains all govt. entities is called__________________?
Public sector
198 - The part of the urban economy of LDC€™s characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?
198 - The part of the urban economy of LDC€™s characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?
Informal sector
199 - The payment for the use of borrowed funds _____________?
199 - The payment for the use of borrowed funds _____________?
Loan
200 - The percentage of labour force unemployment at any time__________________?
200 - The percentage of labour force unemployment at any time__________________?
Unemployment rate
201 - The portion of economy consisting of Agriculture, Forestry, Hunting and Fishing ?
201 - The portion of economy consisting of Agriculture, Forestry, Hunting and Fishing ?
Agricultural sector
202 - The price paid for the use of services of labour per unit of time is called__________________?
202 - The price paid for the use of services of labour per unit of time is called__________________?
Wage
203 - The principle that if one factor of production is fixed and constant addition of other factors are combined with it, the marginal productivity of variable factors will eventually decline ?
203 - The principle that if one factor of production is fixed and constant addition of other factors are combined with it, the marginal productivity of variable factors will eventually decline ?
Diminishing returns
204 - The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?
204 - The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?
Both
205 - The process of deriving principles is called___________________?
205 - The process of deriving principles is called___________________?
Both A and B.
206 - The process of improving the quality of all human lives including sustenance, self esteem and freedom________________?
206 - The process of improving the quality of all human lives including sustenance, self esteem and freedom________________?
Economic growth
207 - The rate of exchange of one nation€™s currency for another nation€™s currency?
207 - The rate of exchange of one nation€™s currency for another nation€™s currency?
None of these
208 - The responsiveness of the quantity demand of a commodity to change in the consumer€™s income, measured by the proportionate change in quantity divided by the proportionate change in income ?
208 - The responsiveness of the quantity demand of a commodity to change in the consumer€™s income, measured by the proportionate change in quantity divided by the proportionate change in income ?
Elasticity of demand
209 - The role of power in economic decision making is studied in________________?
209 - The role of power in economic decision making is studied in________________?
Political economics
210 - The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?
210 - The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?
Trade offs
211 - The sale of products below sale of production in a foreign country or below the prices charged at home is called ?
211 - The sale of products below sale of production in a foreign country or below the prices charged at home is called ?
Dumping
212 - The study of how economies are transformed from stagnation to growth and from low income to higher income status?
212 - The study of how economies are transformed from stagnation to growth and from low income to higher income status?
Development economics
213 - The study process by which a productive capacity of the economy is increased over time to bring about raising levels of national output and income?
213 - The study process by which a productive capacity of the economy is increased over time to bring about raising levels of national output and income?
Economic integration
214 - The sum of interest payments and repayment of principal on external public and public ally guarantee debt?
214 - The sum of interest payments and repayment of principal on external public and public ally guarantee debt?
Debt repudiation
215 - The total amount buyers of goods and services sped or plan to spend____________________?
215 - The total amount buyers of goods and services sped or plan to spend____________________?
Both a and b
216 - The total amount by the federal govt. of the owner of the govt. securities is called___________________?
216 - The total amount by the federal govt. of the owner of the govt. securities is called___________________?
Public debt
217 - The total number of people living below a specified minimum level of real income, an international poverty line, is called ?
217 - The total number of people living below a specified minimum level of real income, an international poverty line, is called ?
Absolute poor
218 - The total revenue of a film less all its economic costs is called_____________________?
218 - The total revenue of a film less all its economic costs is called_____________________?
All these
219 - The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is_________________?
219 - The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is_________________?
capital flight
220 - The tricks of economic growth and development are simply a matter of increasing national savings and investment. Is a simplest form of?
220 - The tricks of economic growth and development are simply a matter of increasing national savings and investment. Is a simplest form of?
Harod-Domar growth model
221 - The use of foreign currency as a medium of exchange in place of or long with the local currency e.g. (Mdexican Pesos)___________________?
221 - The use of foreign currency as a medium of exchange in place of or long with the local currency e.g. (Mdexican Pesos)___________________?
Partial substitution
222 - The use of the resources of an individual or firm, a region, or a nation to produce one or a few goods and services ?
222 - The use of the resources of an individual or firm, a region, or a nation to produce one or a few goods and services ?
Specialization
223 - The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?
223 - The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?
Value added
224 - The yearly number of children born alive per 1,000 women within a chil bearing age bracket?
224 - The yearly number of children born alive per 1,000 women within a chil bearing age bracket?
Crude birth rate
225 - To charge different prices for the goods of the same standard is called___________________?
225 - To charge different prices for the goods of the same standard is called___________________?
Prices discrimination
226 - To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?
226 - To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?
Law of diminishing return
227 - Total amount of income necessary to raise everyone who is below the poverty line up to that line ?
227 - Total amount of income necessary to raise everyone who is below the poverty line up to that line ?
Poverty gap
228 - Total consumption deducted from total income is called__________________?
228 - Total consumption deducted from total income is called__________________?
Saving
229 - Total money income received by the individual or recipients of income is called____________________?
229 - Total money income received by the individual or recipients of income is called____________________?
Gross income
230 - Total number of monetary units received by a firm from the sale of a product is called___________________?
230 - Total number of monetary units received by a firm from the sale of a product is called___________________?
Total revenue
231 - Transfer of funds to a foreign country by a local citizen by business ?
231 - Transfer of funds to a foreign country by a local citizen by business ?
Capital flight
232 - Upward shift of the demand curve is due to_________________?
232 - Upward shift of the demand curve is due to_________________?
Increase in demand
233 - Urban migration is causing the labour force to grow at annual rates of _____________in LDC?
233 - Urban migration is causing the labour force to grow at annual rates of _____________in LDC?
5-7%
234 - Urban population in LDC€™s_________________?
234 - Urban population in LDC€™s_________________?
0.36
235 - Urban population is developed nations?
235 - Urban population is developed nations?
0.74
236 - Using part of income/saving for more income is called_________________?
236 - Using part of income/saving for more income is called_________________?
Investment
237 - Wealth of nations was written by_________________?
237 - Wealth of nations was written by_________________?
Adam Smith
238 - When price for one and demand for other move in same direction we say them___________________?
238 - When price for one and demand for other move in same direction we say them___________________?
Supplementary
239 - Year number of deaths per 1,000 population is called?
239 - Year number of deaths per 1,000 population is called?
Death rates
240 - Yearly number of live births per 1000 population is termed as_________________?
240 - Yearly number of live births per 1000 population is termed as_________________?
Crude birth rate
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