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Economics Past Questions

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4826

A country is described as developing if

 

 

 

  • A. there is low labour supply
  • B. the population is decreasing
  • C. the income per head is low
  • D. the contribution of tertiary sector to national income is high
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4827

Which of the following over estimate the value of national income?

 

  • A. Wrong timing of computation
  • B. Changes of prices of goods within the year
  • C. Double counting
  • D. Incomplete statistical data
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4828

 

A rise in government expenditure can lead to

 

  • A. higher unemployment
  • B. higher inflation
  • C. lower profits for industries
  • D. lower importation of raw materials by industries
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4829

Which of the following is true about the supply of land? It

 

 

  • A. varies with time
  • B. is higher in urban than rural areas
  • C. rises with demand
  • D. is fixed
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4830

A firm will shut down in the long run if its earning is

 

 

  • A. equal to super normal profit
  • B. less than normal profit
  • C. less than super normal profit
  • D. greater than normal profit
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