In autarky equilibrium ?

Related Mcqs:

1. In autarky, the relative price of X, in terms of Y in A would be ?

   A. 1/2 Y
   B. 3/4 Y
   C. 1 Y
   D. 4/3 Y

2. In autarky, the relative price of wine, in terms of beer, in country A is ?

   A. 1W = 1B
   B. 1W = 2B
   C. 1W = 3B
   D. 1W = 1/3B

3. If the autarky price of S were lower in country A than in country B then if trade were allowed ?

   A. A would likely export S to B
   B. A would likely import S from B
   C. neither country would want to trade
   D. None of the above

4. In autarky the relative price of wine, in terms of beer, in Country B is ?

   A. 1W = 3B
   B. 1W = 4 1/2B
   C. 1W = 5B
   D. 1W = 6B

5. In autarky, when a community maximizes its standard of living its production point is ?

   A. below the production possibility frontier
   B. on the production possibility frontier
   C. above the production possibility frontier
   D. can’t tell without more information

6. 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

7. Suppose the economy is initially in long run equilibrium Then suppose there is a drought that destroys much of the wheat crop if policymakers allow the economy to adjust to long-run equilibrium on its own, according to the model to aggregate demand and aggregate supply what happens to prices and output in the long run ?

   A. Output rises; prices are unchanged from the initial value
   B. Output and the price level are unchanged from their initial values
   C. Output falls; prices are unchanged from the initial value
   D. Prices fall; output is unchanged from its initial value

8. 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

9. In macroeconomics, equilibrium is defined as that point at which ?

   A. aggregate output equals consumption minus investment
   B. saving equals consumption
   C. Planned aggregate expenditure equals aggregate output
   D. planned aggregate expenditure equals consumption

10. If the market price is below the equilibrium price ?

    A. quantity demanded will be greater than quantity supplied
    B. quantity demanded will be less than quantity supplied
    C. demand will be less than supply.
    D. quantity demanded will equal quantity supplied .