If a person can be prevented from using a good, the good is said to be ?

Related Mcqs:

1. If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?

   A. 3.1 percent
   B. 3.0 percent
   C. 18.6 percent
   D. 18.0 percent

2. If one person’s consumption of a good diminishes other people’s use of the good, the good is said to be ?

   A. rival
   B. a good produced by a natural monopoly
   C. a common resource
   D. excludable

3. If one person’s enjoyment of the benefits of a good does not interfere with another’s consumption of it, the good is said to be ?

   A. limitless in utility
   B. non-rival in consumption
   C. congestible in consumption
   D. non-excludable

4. If a person who works in coal mine gets paid more than a person with a similar background and skills who works in a safer job, then ?

   A. coal miners must have greater human capital than others
   B. we have observed a compensating differential
   C. coal miners must be more attractive than other workers
   D. we have evidence of discrimination against workers outside the coal mine

5. In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?

   A. There is no rational solution
   B. 75/25
   C. 99/1
   D. 1/99
   E. 50/50

6. A person who regularly watches BBC television programs in the UK but fails to pay their TV licence fee is known as ?

   A. excess baggage
   B. a free rider
   C. a costly rider
   D. a common resource
   E. an unwelcome rider

7. A free rider is a person who ?

   A. receives the benefits of a good but avoids paying for it.
   B. pays for a good but fails to receive any benefit from the good
   C. fails to produce goods but is allowed to consume goods.
   D. produces a good but fails to receive payment for the good

8. 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

9. If a country has a bowed out (concave to the origin) production possibility frontier then production is said to be subject to ?

   A. constant opportunity costs
   B. decreasing opportunity costs
   C. first increasing and then decreasing opportunity costs
   D. increasing opportunity costs

10. In development economics, who said,”Economic growth means more output”.

    A. Maddison
    B. Kindleberger
    C. Todaro
    D. Friedman

    Submitted by: Abdul Saboor Nasar