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28 Sep 2019
Q1. Import quotas are
a. methods for reducing imports by limiting the quantity of goods that can enter the country each year
b. voluntary agreements by exporting countries to limit sales in a foreign country
c. subsidies to foreign producers to encourage them to trade
d. none of these
Q2. Devices that set up multiple exchange rates between the currencies of two nations are known as
a. tariff quotas
b. export subsidies
c. exchange controls
d. variable currencies
Q3. The international organization that replaced the General Agreement on Tariffs and Trade (GATT) is the
a. World Bank
b. Export-Import Bank
c. World Trade Organization
d. International Monetary Fund
Q4. Dumping refers to the practice of
a. flooding a foreign market with large quantities of a good
b. selling a product abroad at a price below cost or below the domestic price
c. exporting inexpensive products to foreign countries
d. selling surplus goods abroad with counterfeit brand names
Q5. Countries engage in trade because
a. the exchange is mutually beneficial
b. governments force industries to exchange
c. international law dictates that exchange must take place
d. all of these
Q6. According to the U. S. Department of Commerce, all persons, unrelated or related, who occupy a housing unit comprise
a. a family unit
b. a household
c. an extended family unit
d. group living
Q7. A country with an equal distribution of income will have a higher standard of living than a country with a more unequal distribution of income.
a. true
b. false
Q8. Welfare caseloads tend to fluctuate with
a. business cycles
b. weather
c. stock markets
d. minimum wage rates
Q9. The official poverty threshold line is adjusted annually for
a. income taxes
b. inflation
c. average household size
d. average family size
Q10. For many welfare recipients, taking a job reduces income.
a. true
b. false
Q11. It is true that a stable economy occurs when
a. total injections into the circular flow are large enough to make up for government tax leakages
b. total leakages from the circular flow are great enough to offset the effects of government spending
c. total planned leakages from the circular flow are exactly equal to total planned injections into the circular flow
d. actual saving is equal to planned investment
Q12. The measure of income received by persons from all sources is known as
a. personal income
b. national income
c. gross domestic product
d. net national product
Q13. Discharges of chemicals from a paper plant that pollute a nearby river represent an example of
a. internal costs
b. the underground economy
c. social costs
d. transfer costs
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Q1. Import quotas are a. methods for reducing imports by limiting the quantity of goods that can enter the country each year b. voluntary agreements by exporting countries to limit sales in a foreign country c. subsidies to foreign producers to encourage them to trade d. none of these Q2. Devices that set up multiple exchange rates between the currencies of two nations are known as a. tariff quotas b. export subsidies c. exchange controls d. variable currencies Q3. The international organization that replaced the General Agreement on Tariffs and Trade (GATT) is the a. World Bank b. Export-Import Bank c. World Trade Organization d. International Monetary Fund Q4. Dumping refers to the practice of a. flooding a foreign market with large quantities of a good b. selling a product abroad at a price below cost or below the domestic price c. exporting inexpensive products to foreign countries d. selling surplus goods abroad with counterfeit brand names Q5. Countries engage in trade because a. the exchange is mutually beneficial b. governments force industries to exchange c. international law dictates that exchange must take place d. all of these Q6. According to the U. S. Department of Commerce, all persons, unrelated or related, who occupy a housing unit comprise a. a family unit b. a household c. an extended family unit d. group living Q7. A country with an equal distribution of income will have a higher standard of living than a country with a more unequal distribution of income. a. true b. false Q8. Welfare caseloads tend to fluctuate with a. business cycles b. weather c. stock markets d. minimum wage rates Q9. The official poverty threshold line is adjusted annually for a. income taxes b. inflation c. average household size d. average family size Q10. For many welfare recipients, taking a job reduces income. a. true b. false Q11. It is true that a stable economy occurs when a. total injections into the circular flow are large enough to make up for government tax leakages b. total leakages from the circular flow are great enough to offset the effects of government spending c. total planned leakages from the circular flow are exactly equal to total planned injections into the circular flow d. actual saving is equal to planned investment Q12. The measure of income received by persons from all sources is known as a. personal income b. national income c. gross domestic product d. net national product Q13. Discharges of chemicals from a paper plant that pollute a nearby river represent an example of a. internal costs b. the underground economy c. social costs d. transfer costs |
Joshua StredderLv10
28 Sep 2019
