Question # 1

In the circular flow diagram firms.

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Receive revenue and supply resources in the resource market

Incur costs and demand resources in the resource market.

Receive revenue and demand resources in the product market.

Incur costs and supply goods and services in the product market.

Guid up of foreign exchange reserves leads to.

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Decrease in money supply

increase in money supply

contraction in money supply

None of the above

Livestock is

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An independent sector

Sub -sector of agriculture

Should be a part of Agriculture

Would become a part of Agriculture

Skills that cna be transferred to other employers are called.

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General skills

Specific skills

Non pecuniary skills

All of the above

A straight line downward sloping demand curve implies that as price falls the elasticity of demand.

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Increases

Decreases

Remain the same

None of these

The arrangement were goods imported from trading partners in the developing world are subject to lower tariff rates than good from other countries is referred to as.

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Normal trade relation status.

Most favored nation status

Generalized system of Preferences.

Offshore assembly provisions

Health of a country's economy is indicated by

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Number of doctors per 1,000 population

Per capital income

Literacy rate

None of the above

"Treating an individual as typical of a group.

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Pure discrimination

statistical discrimination

Human capital

Specific skills

Which of the following is a stock variable.

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Gross private domestic investment

Personal savings

Both a and b

None of these

That the division of labor is limited by the size of the market best applies to which explanation of trade.

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Factor endowment theory

Product life cycle theory

Economies of scale theory

Overlapping demand theory

The overall Budget Deficit is financed from

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External borrowing

Non bank borrowing domestically

Bank borrowing plus the above two at a and b

None of the above

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