Land and natural resources are considered ?

Related Mcqs:

1. The Club of Rome Study, The Limits to Growth suggests that as natural resources diminish ?

   A. capital increasingly replaces labor
   B. technological change compensates for capital depletion
   C. costs rise, leaving less capital for future investment
   D. contingent valuation becomes critical

2. Since the supply of undeveloped land is relatively inelastic a tax on undeveloped land would generate ?

   A. a small deadweight loss and the burden of the tax would fall on the renter
   B. a large deadweight loss and the burden of the tax would fall on the landlora
   C. a large deadweight loss and the burden of the tax would fall on the renter.
   D. a small deadweight loss and the burden of the tax would fall on the landlord

3. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

4. Out of the total land area of Pakistan the total land area of Punjab is 20.6 mha (about 50.90 million acres) out of which ____ are cultivated?

   A. 54 % or 11.04 mha
   B. 57 % or 12.00 mha
   C. 58 % or 12.04 mha
   D. 59 % or 13.04 mha

5. Many environmental resources are public goods, which are characterized by ?

   A. rivalry and exclusion in consumption
   B. nonrivalry and nonexclusion in consumption
   C. rivalry but nonexclusion in production
   D. nonrivalry but exclusion in usage

6. What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?

   A. Prudent development
   B. Sustainable development
   C. Managed economy
   D. None of these

7. What is referred a group of companies that cooperate and share resources in order to achieve a common objective ?

   A. Consortium
   B. Pool
   C. Incorporation
   D. Conglomerate

8. The resources in the economy do not include ?

   A. Demand
   B. Land
   C. Labour
   D. Capital

9. An allocation is Pareto-efficient if no reallocation of resources would make some people _______ without making others ________?

   A. worse off; worse off
   B. better off; better off
   C. better off; worse off
   D. equal, unequal

10. Which approach predicts that is an economy operates a full employment and faces trade deficit currency devaluation will improve the trade balance only if domestic spending is cut thus freeing resources to produce exports ?

    A. the absorption approaches
    B. the Marshall Lerner approach
    C. the monetary approach
    D. the elasticities approach