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.Management Sciences
Category: Economics Mcqs
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 ?
A. sell 4 million pounds of tin
B. sell 8 million pounds of tin
C. buy 4 million pounds of tin
D. buy 8 million pounds of tin
In monopoly when abnormal profits are made ?
A. The price set is greater than the marginal cost
B. The price is less than the average cost
C. The average revenue equals the marginal cost
D. Revenue equals total cost
What is the share of Baluchistan in the total population of Pakistan ?
A. 8.5%
B. 9.6%
C. 6.6%
D. 7.8%
Which of the following statement is true about low-income countries ?
A. less than 10% of the labor force is in agriculture
B. the average agriculture family produces surplus large enough only to supply small non-agriculture population
C. One-third of the labor force produce food
D. share of labor force is about 30%
Labor productivity is higher in DCs such as Japan and Germany than LDCs due to ?
A. high formal education and training
B. better health and physical condition of the labor force
C. Both a and b are correct
D. None of the above is correct
If marginal product is below average product ?
A. The total product will fall
B. The average product will fall
C. Average variable cost will fall
D. Total revenue will fall
The forces and processes revolving around government is policies and actions are called_________________?
A. politics
B. general social processes
C. dynamics
D. statics
The income elasticity is +2 and income increases by 20% sales were 5000 units, what will they be now ?
A. 3000
B. 7000
C. 5500
D. 4500
The United Nations__________________?
A. Is primarily an instrument of the U.S
B. Open supports communist and socialist regimes
C. is extremely effective in policing the world
D. None of the above
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 ?
A. increased
B. Decreased
C. Not changed
D. Any of the above
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