A. Free market economy
B. Laissez faire also Laisser faire
C. Open market economy
D. Liberal market economy
Related Mcqs:
- Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
A. Free market economy
B. Laissez faire also Laisser faire
C. Open market economy
D. Liberal market economy - When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as ?
A. Quantity setting
B. price fixing
C. price rationing
D. quantity adjustment. - What is called the amount of non-military foreign aid which a country received ?
A. Grands
B. Official Development Assistance (ODA)
C. Foreign aid
D. Friendly aid - To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
A. international commodity agreements program
B. multilateral contract program
C. generalized system of preferences program
D. export-led growth program - The ______ is the ratio of the non-working population (under 15-year-old and over 64 years old) to the working-age population ?
A. labor force participation rate
B. per capita population ratio
C. dependency ratio
D. None of these - Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?
A. I and III only
B. II and III only
C. I, II and III only
D. I, II , III only IV - In the West Women and non-whites on average receive lower incomes than white men because ?
A. they tend to work in relatively unskilled jobs
B. educational disadvantage
C. firms are reluctant to invest in training
D. all of the above - Which of the following is a non-metallic mineral ?
A. Cobalt
B. Gypsum
C. Thorium
D. Uranium - Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?
A. Embargo
B. Contraband
C. Ban
D. Restriction - Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?
A. Cost of living
B. Basic requirement
C. Cost of life
D. None of the above
