Question # 1

In marketing "USP " Stand for

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Unique selling proposition

Underlying sales pitch

Unit sales point

Under sales procedure

Why might a country resist globalization.

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Greater choice of final products

Greater choice of supplies

Greater competition for domestic firms

More markets to sell to

If an economy is productively efficient.

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Everyone is wealthy

Resources are unemployed

More of one product can only be produced if less of another product is produced.

The distribution of income is equal

Free trade is based on the principle of

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Comparative advantage

Comparative scale

Economics of advantage

Production possibility advantage

An increase in investment is most likely to be caused by.

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Lower interest rates

Lower national income

A decreasing the marginal propensity to consume

An increase in with drywalls.

If injections are greater than withdrawals.

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National income will increase

National income will decrease

National income will stay in equilibrium

Price will fall

Ordinal measurement approach was not presented by

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Allen

Hicks

Edge worth

Robbins

The accelerator assumes.

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The marginal propensity to consume is constant

The economy is at full employment

There is a constant relationship between net investment and the rate of change of output

The multiplier is constant

Which of the following is not an argument for protectionism.

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To protect infant industries

To increase the level of imports

To protect strategic industries

To improve the balance of payments

Which of the following is the government most likely to subsidies.

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Negative externalities

Positive externalities

Monopolies

O ligopojies

If a few firms dominate an industry the market is known as.

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Monopolistic competition

Competitively monopolistic

Duopoly

Oligopoly

Inflation.

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Reduces the cost of living

Reduces the standard of living

Reduce the price of products

Reduces the purchasing power of a price

An increase in the marginal propensity to consume will

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Increase the size of the multiplier

Increase the marginal propensity to save

Decrease national income

Reduce injections into the economy

An increase in costs will

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Shift aggregate demand

Shift aggregate supply

Reduce the natural rate of unemployment

Increases the productivity of employees

In monopoly in long run equilibrium.

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The firm is productively effieient

The firm is allocatively inefficient

The firm produces where marginal cost is less than marginal revenue

The firm produces at the sociality optimal level

Demand for a normal product may shift outwards if.

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Price decreases

The price fo a substitute falls

the price of a complement rises

Income falls

The best describes consumer surplus.

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The price consumers are willing to pay for a unit

The cost of providing a unit.

The profits made by a firm

The difference the price a consumer pays for an item and the price he is willing to pay.

The marginal propensity to consume in a less Developed Country is likely to be.

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_{Less than 0}

Nearly 0

High

Low

When marginal revenue equals marginal cost

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Total revenue equal total cost

There is the biggest positive difference between total revenue and total cost

there is the biggest negative difference between total revenue and total cost.

Profits are zero

An increase in aggregate demand will have most effect on prices if.

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Aggregate supply is price inelastic

Aggregate supply is price elastic

Aggregate supply has a unitary price elasticity

Aggregate demand is price inelastic

Demand for primary products is likely to be

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Very sensitive to price

Price elastic

Unit elastic

Income inelastic

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