Economics MCQs

Page No. 378

According to chapter 2 in the text which of the following is true ?


a The boundary between rich and poor countries has become clearer in 1990s


b The fastest growing countries must be the ones with the highest per capita GNP


c A few poor countries like South Korea and Malaysia in the 1950s grew much more rapidly than some higher-income countries like Uruguay and New Zealand


dToday all high and Upper-middle income countries are Western.



IF GDP for Maldivies is $435 million in 2012 and the GDP per capita is $1576.087 the population of the country must be ?


a276,000


b1576,086


c 0.276


d 3.623


View Answer 276,000

If GDP for Palau a small country near southeast of the Philippines is $130 million in 2012 and its population is 20,000 GDP per capita is ?


a 6500


b130


c0.0065


d650


View Answer 6500

Economic development refers to ?


aeconomic growth


beconomic growth plus changes in (c) output distribution and economic structure


cimprovement in the well-being of the urban population


dsustainable increase in Gross National Product



IF GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austri is US$555 and US$560 in 2011 and 2012 respectively, the real economic growth from 2011 to 2012 is ?


a 5%


b0.901%


c0.090%


d0.991%


View Answer 0.901%

Tuvalu is composed of 9 coral atolls along a 360-mile chain in Polynesia They gained independence in 1978 The former Ellice Island are home to 9,700 people if GNP of Tuvalu is $300 million in 2005 GNP per capital is ?


a9700 (1978 / 2005)


b300 / 360


c300 000 000 / 9700


d32.333


View Answer 300 000 000 / 9700

Lespeyres type indexes use weights from_____________?


acurrent period


bbase-period


cforecasting


dfuture year


View Answer future year

In an Open economy leakage to imports ____________ the value of the multiplier ?


areduce


bincrease


cdo not change


d None of the above


View Answer reduce

The total multiplier for the economy will reflect ?


aMPC and MPT


bMPT and MPZ


cMPC and MPZ


dMPC, MPT and MPZ


View Answer MPC, MPT and MPZ

For given government spending and taxation the government budget deficit will grow in _________ and decline in __________?


abooms, booms


brecession, recession


cbooms, recessions


drecessions, booms


View Answer recessions, booms

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