The real income of domestic producers and consumers can be increased by ?

Related Mcqs:

1. Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about ?

   A. $145
   B. $40,000
   C. $25
   D. $100

2. 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

3. What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?

   A. Domestication
   B. Protectionism
   C. Localization
   D. National interest

4. What is called the advocacy of protecting domestic producers by impeding or limiting the importation of foreign goods and services ?

   A. Domestication
   B. Protectionism
   C. Localization
   D. National interest

5. Domestic producers gain ________ because on the tariff?

   A. $50,000
   B. $75,000
   C. $120,000
   D. $150,000

6. If the home country government grants a subsidy on a domestically produced good domestic producers tend to ?

   A. Capture the entire subsidy in the form of higher profits
   B. Increase their level of production
   C. reduce wages paid to domestic workers
   D. consider the subsidy as a increase in production cost

7. Within the circular flow of income, an increase in domestic income will tend to increase ?

   A. exports
   B. taxes
   C. inventories
   D. imports

8. If we consider the impact on both consumers and producers, then protection of the steel industry is ?

   A. In the interest of the U.S as a whole but not in the interest of the state of Pennsylvania where steel mills are located
   B. In the interest of the U.S as a whole and in the interest of the state of Pennsylvania
   C. Not in the interest of the U.S as a whole, but it might be in the interest of the state of Pennsylvania
   D. Not in the interest of the U.S as a whole, nor in the interest of the state of Pennsylvania

9. When real income increases other things equal we can expect the demand for real money holdings to ?

   A. fall
   B. not change
   C. increase
   D. None of these

10. If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?

    A. 1.50
    B. 1.15
    C. none of these
    D. 0.15
    E. 1.00