Description : The effective rate of protection (a). distinguishes between tariffs that are effective and those that are ineffective (b). is the minimum level at which a tariff becomes effective in ... in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Last Answer : d). shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Description : Governments can encourage globalization of industries by: a) increasing tariffs and regulations b) creating common international technical standards c) subsidising domestic firms that expand internationally d) subsidising foreign firms that invest in their country
Last Answer : creating common international technical standards
Description : A Black Market is a situation where in (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available
Last Answer : (2) Goods are sold secretly Explanation: Black market is the market in which illegal goods are traded. Goods acquired illegally take one of two price levels: (i) they may be cheaper than legal ... defining feature of black markets is that they have to be carried out secretly as they are illegal.
Description : A Black Market is a situation wherein (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available (sold) only after there is a rise in prices
Last Answer : Goods are sold secretly
Description : An analysis of the economic segment of the external environment would include all of the following EXCEPT …. A. Interest rates. B. International trade tariffs C. Strength of the U.S. dollar. D. Move toward a contingent outsourcing workforce.
Last Answer : Move toward a contingent outsourcing workforce.
Description : The Strategy used to charge different prices for the same product is called 1. Price discrimination 2. Price Revision 3. Tariffs 4. Restrictions 5. None of these
Last Answer : Price discrimination
Description : Aggregate net value of the output in one year is the - (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net. National Product at market prices (4) Gross National Product at market prices
Last Answer : (3) Net. National Product at market prices Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in ... at market price, Net national product at market price=Gross national product at market priceDepreciation.
Description : The best measure to assess a country's economic growth is - (1) per capita income at constant prices (2) per capita income at current prices , (3) gross domestic product at current prices (4) gross national product at current prices
Last Answer : (1) per capita income at constant prices Explanation: Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period ... the aggregate (such as GDP or Gross National Income) and dividing it by the total population.
Description : Which of the following is not a benefit of international trade? (a) Lower domestic prices (b) Development of more efficient methods of production © A wider selection of products for domestic consumers (d) High wage levels for all domestic workers.
Last Answer : The theory of comparative cost advantage is given by
Description : Aggregate net value of the output in one year is the (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net National Product at market prices (4) Gross National Product at market prices
Last Answer : Net National Product at market prices
Description : The best measure to assess a country’s economic growth is (1) per capita income at constant prices (2) per capita income at current prices (3) gross domestic product at current prices (4) gross national product at current prices
Last Answer : per capita income at constant prices
Description : Do you think Trump is trying to reduce the trade deficit by imposing taxes on importers and people who buy imported goods in the form of tariffs?
Last Answer : On the supply side; grain and produce numbers are DROPPING for USA farmers. So, no it is will not reduce deficit because we have reduce what is being sold to China and others impacted by tariffs.
Description : 7. According to Keynes, when the Great Depression started, the government should have: a. done nothing b. decreased the money supply c. had a large increase in government spending d. enacted high tariffs, such as the Smoot-Hawley Tariff
Last Answer : c. budget surplus of $1000
Description : Most tariffs have (a.) only revenue effects (b). only protective effects (c). both protective and revenue effects (d). neither protective or revenue effects
Last Answer : (c). both protective and revenue effects
Description : Specific tariffs are collected as (a) Fixed amount of money per unit traded (b) A percentage of the price of the product © A percentage on the quantity of imports (d) All of the above.
Last Answer : (a) Fixed amount of money per unit traded
Description : Domestic product includes contribution of only resident producers within the domestic territory of the country.
Last Answer : Domestic product includes contribution of only resident producers within the domestic territory of the country.
Description : Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes - (1) a fall in prices of output and resources (2) a fall in real gross National product ... a rise in real gross National product and investment (4) a rise in prices of output and resources
Last Answer : (1) a fall in prices of output and resources Explanation: In 1936, John Maynard Keynes published the book "The General Theory of Employment, Interest and Money to explain the prolonged and ... at a below-full-employment equilibrium. Suppose that the economy is at the full-employment equilibrium.
Description : Devaluation usually causes the internal prices to : (1) fall (2) rise (3) remain unchanged (4) None of the above
Last Answer : (3) remain unchanged Explanation: Devaluation reduces the export price in term of foreign currencies in the world market. As a result the exports are increased so as to increase the revenue ... effects on a country's international trade by alluring traders. But, internal prices remain unaffected.
Description : In a boom (a) Unemployment is likely to fall. (b) Prices are likely to fall © Demand is likely to fall
Last Answer : (a) Unemployment is likely to fall.
Last Answer : remain unchanged
Description : According to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes (1) a fall in prices of output and resources (2) a fall in real gross National product and ... rise in real gross National product and investment (4) a rise in prices of output and resources
Last Answer : a fall in prices of output and resources
Description : India is one of the largest producers of manganese ore in the world along with – (1) China and Russia (2) Brazil and Russia (3) Australia and U.S.A. (4) South Africa and U.S.A.
Last Answer : (2) Brazil and Russia Explanation: About 80% of the known world manganese resources are found in South Africa: other important manganese deposits are in Ukraine, Australia, India, China, Gabon and ... ores are preferred by many as they are generally hard, lumpy and amenable to easy reduction.
Description : The primary reason that many companies work to become the "low-cost producers" in theri industry is because : 1. the can generate more advertising 2. they can please top management 3. they can gain ... 4. they can set lower prices that result in greater sales and profits 5. none of these
Last Answer : they can set lower prices that result in greater sales and profits
Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods
Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.
Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods
Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc.
Description : The incidence of sales tax falls on - (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers
Last Answer : (1) Consumers Explanation: In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to "fall" upon the group ... where the revenue is collected, but on the price elasticity of demand and price elasticity of supply.
Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus
Last Answer : (1) Consumer's Surplus Explanation: Consumer surplus is the difference between the maximum price a consumer is willing to pay and the actual price they do pay. If a consumer would be willing to pay ... price, then they are getting more benefit from the purchased product than they spent to buy it.
Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called - (1) Price (2) Profit (3) Producers' surplus (4) Consumer's surplus
Last Answer : (3) Producers' surplus Explanation: Producer Surplus' is an economic measure of the difference between the amount that a producer of a good receives and the minimum amount that he or she would be ... or surplus amount, is the benefit that the producer receives for selling the good in the market.
Description : At "Break-even point", (1) the industry is in equilibrium in the long run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point
Last Answer : (4) the firm is at zero-profit point Explanation: The break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even." For businesses, reaching the break-even point is the first major step towards profitability.
Description : Ad Valorem tax is levied - (1) according to value added by the Government. (2) according to value addition to a commodity (3) according to value given by producers (4) according to value added by the finance ministry
Last Answer : (3) according to value given by producers Explanation: An ad valorem tax (Latin for "according to value") is a tax based on the value of real estate or personal property. It is more ... difficulty with such taxation, especially in the case of tariffs, is in establishing a satisfactory value figure.
Description : A refrigerator operating in a chemist's shop is an example of - (1) free good (2) final good (3) producers good (4) consumer's good
Last Answer : (2) final good Explanation: Final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; the ... tires sold to the car manufacturer are not; they are intermediate goods used to make the final good.
Description : Plant arid machinery are - (1) Producers' goods (2) Consumers' goods (3) Distributors' goods (4) Free goods
Last Answer : (1) Producers' goods Explanation: Plant and machinery are Producers' goods. Together with stocks and work in progress, these goods are collectively termed 'Capital'.
Description : The function of a government to provide goods that cannot normally be provided by market mechanisms between individual customers and producers, is known as: a) Distribution function b) Allocation function c) Stabilization d) Protection
Last Answer : b) Allocation function
Description : Ad Valorem tax is levied (1) according to value added by the Government. (2) according to value addition to a commodity (3) according to value given by producers (4) according to value added by the finance ministry
Last Answer : according to value given by producers
Description : The incidence of sales tax falls on (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers
Last Answer : Consumers
Description : At “Break-even point”, (1) the industry is in equilibrium in the long-run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point
Last Answer : the firm is at zero-profit point
Description : Plant and machinery are (1) Producers’ goods (2) Consumers’ goods (3) Distributors’ goods (4) Free goods
Last Answer : Producers’ goods
Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus
Last Answer : Consumer’s Surplus
Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called (1) Price (2) Profit (3) Producers’ surplus (4) Consumer’s surplus
Last Answer : Producers’ surplus
Description : A refrigerator operating in a chemist’s shop is an example of (1) free good (2) final good (3) producers good (4) consumer’s good
Last Answer : final good
Description : Given below is a simplified model of phosphorus cycling in a terrestrial ecosystem with four blanks (A-D). Identify the blanks. Consumers A D C Uptake Run off Soil solution B A B ... minerals Detritus (c) Detritus Rock minerals Producers Litter fall (d) Producers Litter fall Rock minerals Detritus
Last Answer : (c) Detritus Rock minerals Producers Litter fall
Description : Does U.S. militarism and nationalism play any role in domestic gun violence?
Last Answer : While I don’t disagree that there is some connection, I don’t quite know which is causality, and which is end result.
Description : Which is better? Magic Jack? or Google Voice? to make free domestic U.S. calls...
Last Answer : What about skype?
Description : which haitian leader was overthrown, causing the u.s. to intervene? -General Knowledge
Last Answer : Jean-Bertrand Aristide was a Haitian leader was overthrown, causing the U.S. to intervene.
Description : By which rate is the domestic current rate of currency converted into foreign currency? A. Bank Rate B. CRR C. Stock Exchange Rate D. Repo Rate E. Exchange Rate
Last Answer : E. Exchange Rate Explanation: An exchange rate aka a (foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country‘s currency in terms of another currency.
Description : The Chinese answer for tariffs, print labels that say "made in Vietnam". Should USA print labels for soybean and things that says made in Mexico?
Last Answer : I remember back in the late 1960’s early 70’s when there was a push against Japanese imports. They established a city named: Usa , 宇佐市 in Oita Prefecture Japan so they could “honestly” mark products: “Made in USA”. I’ll bet china has considered that.
Description : Did Trump not think that countries would impose retaliatory tariffs on US goods?
Last Answer : “Did Trump not think.” You can stop right there. As long as it doesn’t hurt him personally, he doesn’t care.
Description : Did you hear that Harley Davidson is moving motorcycle production offshore to avoid European retaliatory tariffs?
Last Answer : I think the USA are about to lose some jobs. And the European motor cycle enthusiasts are going to pay the same price for their new Harley as before the tariffs.