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

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

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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

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

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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

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b1576,086

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c 0.276

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d 3.623

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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

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b130

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c0.0065

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d650

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View Answer 6500

Economic development refers to ?


aeconomic growth

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

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cimprovement in the well-being of the urban population

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dsustainable increase in Gross National Product

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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%

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b0.901%

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c0.090%

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d0.991%

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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)

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b300 / 360

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c300 000 000 / 9700

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d32.333

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View Answer 300 000 000 / 9700

Lespeyres type indexes use weights from_____________?


acurrent period

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bbase-period

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cforecasting

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dfuture year

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View Answer future year

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


areduce

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bincrease

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cdo not change

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d None of the above

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View Answer reduce

The total multiplier for the economy will reflect ?


aMPC and MPT

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bMPT and MPZ

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cMPC and MPZ

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dMPC, MPT and MPZ

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View Answer MPC, MPT and MPZ

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


abooms, booms

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brecession, recession

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cbooms, recessions

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drecessions, booms

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View Answer recessions, booms

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