_______ beliefs values are open to some degree of change ?

Related Mcqs:

1. If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?

   A. a nonlinear relationship
   B. a positive linear relationship
   C. a scatter diagrams
   D. a negative linear relationship

2. Jamil has ten pairs of football boots and saleem has none. A pair of football boots cost Rs50. to produce. If jamil values an additional pair of boots at RS100 and saleem values a pair of boots at Rs40, then the maxime ?

   A. efficiency Saleem should receive the glove
   B. Efficiency Jamil should receive the glove
   C. equity Jamil should receive the glove
   D. consumer surplus both should receive a glove

3. Roberto and Thomas live in a university hall of residence Roberto values playing loud music at a value of €100. Thomas values Pease and quiet at a value of €150. Which of the following statements is true ?

   A. It is efficient for Roberto to stop playing loud music regardless of who has the property right to the level of sound
   B. it is efficient for Roberto to continue to play loud music
   C. It is efficient for Roberto to stop playing loud music only if Thomas has the property right to peace and quiet
   D. It is efficient for Roberto to stop playing loud music only if Roberto has the property right to play loud music

4. Roberto and Thomas live in a university hall of residence. Reberto values playing loud music at a value of €100. Thomas values peace and quiet at a value of €150. Which of the following statements is true about an efficient solution to this externality problem if Roberto has the right to play loud music and if there are no transaction costs ?

   A. Thomas will pay Roberto between €100 and €150 and Roberto will continue to play loud music
   B. Roberto will pay Thomas €150 and Roberto will continue to play loud music
   C. Thomas will pay Roberto between €100 and €150 and Roberto will stop playing loud music
   D. Roberto will pay Thomas €100 and Roberto will stop playing loud music

5. When entering a building, Asim diverts his path to go through an open door rather than make the physical effort to open the closed door that is directly in his path. This is an example of:

   A. irrational behavior
   B. a lazy person
   C. marginal benefit-marginal cost analysis
   D. programmed learning

   Submitted by: Mansoor Ul Haque

6. If the economy is at the peak of the business cycle, aggregate demand ____ unemployment _______ inflation _______ and the current account of the balance of payments is likely to move towards _______?

   A. rise; falls; rise; deficit
   B. falls; rises; falls; surplus
   C. falls; falls; falls; surplus
   D. is static; low; rises; deficit

7. If some gain and some lose as the result of a proposed change and it can be demonstrated that the value of the gains would exceed the value of the losses then the change is said to be ?

   A. technically efficient.
   B. inefficient.
   C. potentially efficient
   D. unequivocally Pareto optimal

8. If a result of households wish to save more there is a change in equilibrium income and no change in equilibrium saving this is an example of ?

   A. market imperfection
   B. the law of diminishing returns
   C. the paradox of thrift
   D. market failure

9. The ratio of change in the equilibrium level of output to a change in some autonomous variable is the ?

   A. automatic stabiliser
   B. multiplier
   C. elasticity coefficient
   D. marginal propensity of the autonomous variable

10. The change in consumption that results when a price change moves the consumer along a given indifference curve is known as the ?

    A. inferior effect
    B. normal effect
    C. substitution effect
    D. complementary effect
    E. income effect