In 1990, during the Persian Gulf War, the U.S government extended generous terms to two middle-income countries by canceling or reducing their debt The two countries were ?

Related Mcqs:

1. The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?

   A. less than $900, $900-$9000 and more than $9000
   B. less than $5000, $5000-$15000 and more than $15000
   C. less than $100, $100-$1000 and more than $1000
   D. less than $5000, $5000-$150000 and more than $150000

2. Which countries terms of trade improved between 1990 and 2000 ?

   A. Mexico and Denmark
   B. Sweden and Denmark
   C. Sweden and Spain
   D. Mexico and Sweden

3. What is National debt or public debt ?

   A. State’s borrowing from its population
   B. State’s borrowing from foreign government
   C. state’s borrowing from international institution
   D. All of these

4. IF Unemployment insurance were so generous that it paid laid off workers 95 percent of their regular salary ?

   A. Frictional Unemployment would fall
   B. The official unemployment rate would probably understate true unemployment
   C. The official unemployment rate would probably overstate true unemployment
   D. There would be no impact on the official unemployment rate
   E. None of these answers

5. A tax for which high income taxpayers pay a smaller fraction of their income than do low income taxpayers is known as ?

   A. a proportional tax
   B. a regressive tax
   C. an equitable tax
   D. a progressive tax

6. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30%
   B. 10%
   C. 70%
   D. 40%

7. According to Human Development Report 2003, about ________ countries were poorer in 2003 than in 1990?

   A. 50
   B. 100
   C. 1000
   D. 5

8. Which of the following are low income countries income country ?

   A. Canada
   B. United States
   C. Mexico
   D. Australia

9. Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about ?

   A. $145
   B. $40,000
   C. $25
   D. $100

10. Suppose that a war is fought will biological weapons. The weapons destroy people but not capital. What is likely to happen to equilibrium wages and rental rates after the war when compared to their values before the war ?

    A. Wages rise, and rental rates fall
    B. Wages rise, and rental rates rise
    C. Wages fall, and rental rates rise
    D. Wages fall, and rental rates fall