A. Usually made of wood and plastic
B. built with assumptions.
C. useless if they are simple.
D. created to duplicate reality.
Related Mcqs:
- According to classical models, the level of employment is determined primarily by ?
A. the level of aggregate demand for goods and services.
B. prices and wages
C. interest rates
D. the quantity of money - Consulting firms that use large-scale econometric models to forecast exchange rate movements are engaging in ?
A. judgmental analysis
B. fundamental analysis
C. technical analysis
D. nontechnical analysis - Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?
A. End benefit
B. Trickle down
C. Free market
D. Capitalism - Statement A: The might of a country consists of gaining surpluses of gold and silver Statement B: A nation’s strength is found in economic independence and the maintenance of a favorable balance of trade Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured of goods Which economic system is being described by these statements ?
A. traditional
B. feudal
C. command
D. mercantile - Economic growth is depicted by ?
A. a shift in the production possibilities frontier outward.
B. a movement from inside the curve toward the curve.
C. a shift in the production possibilities frontier inward
D. a movement along a production possibilities frontier toward capital goods. - During a given period how the economic activity of a nation is measured?
A. Gross Domestic Product (GOP)
B. Gross National output (GNO)
C. Gross National product (GNP)
D. Gross National Output - Economic growth from current year (c) to previous year (p) is given by ?
A. [(GDPc – GDPp)/ DGPp]100
B. [(GDPc – GDPp) DGPp]100
C. GNPc – DGPp100)
D. [GDPp – GDPc]100 - The form of international price discriminations (dumping) normally associated with economic recession or excess inventories in the exporting nation is known as ?
A. Predatory dumping
B. sporadic dumping
C. persistent dumping
D. year end dumping - The emergence of Japan as a world economic power has been based mostly on Japan’s ?
A. development of nuclear power
B. abundance of fossil fuels
C. strong traditional of military rule
D. business enterprise and organization - During the 1980s and 1990s the economic policies of China, supported by Deng Xiaoping have led directly to______________??
A. an expansion of China’s colonial empire
B. an increase in trade with the West
C. a return to a strict command economy
D. the success of the commune system
