If the consumption of good by one person does not reduce the quantity available by others and nobody can be easily excluded from consumption, we are referring to a ?

Related Mcqs:

1. uppose a consumer must choose between the consumption of sandwiches and pizza. If we measure the quantity of pizza on the horizontal axis and the quantity of sandwiches on the vertical axis and if the price of a pizza is Rs10 and the price of a sandwich is Rs5, then the slope of the budget constraint is ?

   A. 2
   B. 10
   C. 1/2
   D. 5

2. A linear consumption function with a positive slope less than one means that if income increases consumption will ?

   A. fall
   B. not change
   C. fluctuate
   D. increase

3. If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 total consumption is what ?

   A. 0.8
   B. 800
   C. 810
   D. 0.81

4. In 2003, the UN Development Program estimated that a 1-percent LDC per capita consumption growth, with income inequality unchanging, would reduce the poverty percentage by _________ percent yearly?

   A. 0
   B. 2
   C. 6
   D. 0.5

5. 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

6. Which of the following would be excluded from UK GDP fro 2005? The sale of ?

   A. a haircut
   B. the value of a lawyer’s services
   C. a 2005 Honda made in Swindon
   D. All of things mentioned in these answers should be counted in 2005 GDP.

7. 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

8. Referring to the above, the embargo was mainly resisted by ?

   A. U.S grains consumers and producers of bread
   B. U.S farmers and grains companies
   C. Grain Producers in foreign countries
   D. Grain consumers in foreign countries

9. Referring to the above table, the U.S balance of international indebtedness suggests that the U.S is a net ?

   A. debtor
   B. creditor
   C. spender
   D. exporter

10. 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