John Stuart Mill was the founder of the ?

Related Mcqs:

1. Keynesian economics is an economic theory of British economist John Maynard. What this theory states ?

   A. A free market is necessary for economic growth and stability
   B. Regulation is necessary for economic growth and stability
   C. Active government intervention is necessary to ensure economic growth and stability
   D. Government intervention is not necessary to ensure economic growth and stability

2. Jamil’s car is in need of repair, so John decides to sell it avoid the repair bill. Unaware of the problem, Shahab buys the car. This is an example of ?

   A. hidden actions
   B. adverse selection
   C. moral hazard
   D. adverse selection

3. With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?

   A. One-half ton of steel
   B. One ton of steel
   C. Two tons of steel
   D. Two and one-half tons of steel

4. Absolute advantage is determined by ?

   A. actual differences in labor production between countries
   B. relative differences in labor productivity between countries
   C. Both (a) and (b)
   D. Neither (a) nor (b)

5. Country A has an absolute advantage in__________?

   A. Product X
   B. Product Y
   C. Neither X nor Y
   D. Both X and Y

6. If the relative price (MRT) of S were to increase, then the price line would ?

   A. shift out in a parallel fashion
   B. shift in a parallel fashion
   C. Become steeper
   D. Become flatter

7. G. MacDougal compared export ratios and labor productivity ratios for the United States and the United Kingdom in order to test the:

   A. Ricardian theory of comparative
   B. Heckscher Ohl in theory of comparative advantage
   C. Linder theory of overlapping demand all of the above
   D. None of these

8. The gains from international trade are closely related to ?

   A. The labor theory of value
   B. How much the autarky price differs from international terms of trade change
   C. The fact that a country must lose from trade
   D. All of the above

9. In autarky the relative price of wine, in terms of beer, in Country B is ?

   A. 1W = 3B
   B. 1W = 4 1/2B
   C. 1W = 5B
   D. 1W = 6B

10. In aukarky, when a community maximizes its standard of living, its production and consumption point is ?

    A. below the production possibility frontier
    B. On the production possibility frontier
    C. above the production possibility frontier
    D. can’t tell without more information