A. none of these answers
B. an ever-increasing population is constrained only by the food supply resulting in chronic faminies
C. technological progress will continuously generate improvement in productivity and living standards.
D. labor is the only true factor of production
Related Mcqs:
- Roberto and Thomas live in a university hall of residence Roberto values playing loud music at a value of €100. Thomas values Pease and quiet at a value of €150. Which of the following statements is true ?
A. It is efficient for Roberto to stop playing loud music regardless of who has the property right to the level of sound
B. it is efficient for Roberto to continue to play loud music
C. It is efficient for Roberto to stop playing loud music only if Thomas has the property right to peace and quiet
D. It is efficient for Roberto to stop playing loud music only if Roberto has the property right to play loud music - Roberto and Thomas live in a university hall of residence. Reberto values playing loud music at a value of €100. Thomas values peace and quiet at a value of €150. Which of the following statements is true about an efficient solution to this externality problem if Roberto has the right to play loud music and if there are no transaction costs ?
A. Thomas will pay Roberto between €100 and €150 and Roberto will continue to play loud music
B. Roberto will pay Thomas €150 and Roberto will continue to play loud music
C. Thomas will pay Roberto between €100 and €150 and Roberto will stop playing loud music
D. Roberto will pay Thomas €100 and Roberto will stop playing loud music - Malthus’s theory was that population ?
A. increased proportionally to economic growth
B. increased geometrically, outstripping food supply which grew arithmetically
C. increased stagnantly with food supply and economic development
D. increased disproportionately surpassing agricultural production - Thomas is a monopolist in the production of your textbook because ?
A. Thomson has a legally protected exclusive right to produce this textbook
B. Thomson owns a key resource in the production of textbooks.
C. Thomson is a natural monopoly,
D. Thomson is a very large company - A reasonable measure of the standard of living in a country is ?
A. real GDP per person
B. nominal GDP per person.
C. Real GDP
D. The growth rate of nominal GDP per person - Which of the following describes an increase in technological knowledge ?
A. A farmer sends his child to agricultural college and the child returns to work on the farm
B. A farmer hires another day laborer
C. A farmer buys another tractor
D. A farmer discovers that it is better to plant in the spring rather than in the fall - Which of the following is an example of foreign portfolio investment ?
A. Toyota builds a new plant in the north of England
B. EDF of France buys shares in Scottish & Southern Energy of the UK, and Scottish & Southern Energy uses the Proceeds to build a new hydro-electric power station in Scotland
C. Deutsche Bank of Germany buys some new software from UK Supplier
D. JCB builds a new plant near Manchester - Once a country is wealthy ?
A. it no longer needs any human capital
B. capital becomes more productive due to the “catch-up- effect”
C. none of these answers
D. it may be harder for it to grow quickly because of the diminishing returns to capital - For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except ?
A. labor
B. physical capital/worker
C. human capital/worker
D. natural resources/worker - 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
