In a free market system, the amount of goods and services that any one household gets depends upon its ?

Related Mcqs:

1. S = Savings, I = domestic investment, X = exports of goods and services, and M = imports of goods and services Which of the following is true ?

   A. S – I = X = M
   B. S + I = X + M
   C. S = I – (X+M)
   D. S-I = X/M

2. If a producer has market power (can influence the price of the product in the market) then free market solutions ?

   A. are equitable.
   B. are efficient
   C. maximize consumer surplus
   D. are inefficient

3. Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?

   A. Cost of living
   B. Basic requirement
   C. Cost of life
   D. None of the above

4. What is called amount of money to purchase the goods and services to maintain life ?

   A. Cost living
   B. Basic requirement
   C. Cost of life
   D. None of these

5. Market value of all final goods and services produced in a country during a year is definition of ?

   A. NI
   B. NNP
   C. GNP
   D. Consumption

6. In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ?

   A. Orderly marketing
   B. trigger pricing
   C. domestic content pricing
   D. dumping

7. If a market generates a side effect or externlity then free market solutions ?

   A. maximize producer surplus
   B. are efficient
   C. are inefficient
   D. are equitable

8. The amount value of an asset in business records is not necessarily identical to the amount that the asset could bring on the open market. What is it called ?

   A. Open value
   B. Book value
   C. Real value
   D. Artificial value

9. The record of country’s imports and exports of goods and services is called its ?

   A. visible trade balance
   B. balance of trade
   C. balance of payments on current account
   D. balance of payments.

10. The record of a country’s imports and exports of of goods and services plus net investment incomes and current transfers of money to and from abroad, is called its ?

    A. balance of payments on current account
    B. visible trade balance
    C. balance of trade
    D. balance of payments