Economists chart the limits of resources and technology on output through_____________________?

Related Mcqs:

1. A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work save and invest these economists are ?

   A. supply side economists
   B. neo-Keynesian economists
   C. rational -expectations economists
   D. New classical economists

2. A way of calculating the total output of the economy and all incomes earned within the Pakistan regardless of whether the resources are Pakistan or foreign is_______________?

   A. the GDP
   B. the GNP
   C. the NNP
   D. the SPQR

3. A way of calculating the total output of the economy regardless of where resources are located is________________?

   A. the GDP
   B. the GNP
   C. the NNP
   D. the SPQR

4. According to supply side economists as tax rates are reduced labour supply should increase. This implies that ?

   A. There is no income effect when tax rates are changed
   B. The income effect of a wage change is greater than the substitution effect of a wage change.
   C. There is no substitution effect when tax rates are changed
   D. The substitution effect of a wage change is greater than the income effect of a wage change

5. According to supply-side economists if taxes are cut so that people have an increased incentive to work and businesses have an increased incentive to invest ?

   A. aggregate supply will increase , aggregate demand will decrease
   B. aggregate supply will increase, aggregate output will increase and the price level will decrease
   C. aggregate supply will increase aggregate output will increase and the price level will increase
   D. both aggregate supply and demand will increase and the price level will increase

6. New classical economists advocate reducing welfare payments to people who are unemployed or single parents. The economic reasoning uses was that this would ?

   A. reduce poverty
   B. reduce unemployment
   C. weaken the power of trade unions
   D. help small businesses

7. A general in an army chart of command positions would constitute a______________?

   A. status
   B. role
   C. norm
   D. institution

8. The idea that technology changes social organization and ideology is called______________?

   A. scientific determinism
   B. technological revolution
   C. evangelical determinism
   D. secular humanism

9. Which of the following programs are particularly dependent upon state resources ?

   A. Corporate growth
   B. The Social Security system
   C. Public education
   D. Public housing

10. Which resources are scarce in every society ?

    A. Fertile land
    B. Wheat and com
    C. Food shelter and protective coverings
    D. Sufficient males to mate with all the females