Please, fill out the information below to continue. NAME EMAIL PHONE NUMBER 1. Which one of the following is a supply side policy which the government could use to help meet its economic objectives?higher unemployment benefitsan increase in the rate of corporation taxan improved apprenticeship programmequantitative easing2. The country with the highest GNI (PPP) per capita in 2006–07 was:SwitzerlandSingaporeNorwayLuxembourg3. Which of the following is not part of the Human Development Index?infant mortalityeducational attainment GDP per capitalife expectancy4. National insurance is charged at a rate of 12% of gross pay. L'taraoluwa’s gross monthly pay is £1500. How much is her monthly national insurance contribution?£1320£12500£180£16805. Which of the following countries is not a low-income country?MalaysiaIndiaNigeriaIndonesia6. Kafeel has a job which pays him £32 000 a year. He owns a car worth £25 000 and has £8000 savings in his bank account. His bank account pays interest at a rate of 1% per year.Kafeel’s annual income is £32 080£33 080£32 000 £33 0007. According to the Human Development Report 2009, the country with the highest human development (in 2007) was:AustraliaNorwayJapanCanada8. Which one of the following would cause an inward shift of the demand curve for hats?wearing a hat becomes less fashionablebad weathera National increase in wage ratesmore hats are made9. UK interest rates are set by:The EUThe Bank of EnglandThe UK governmentBritish consumers10. A market with a single producer isdifficult for new firms to enterhighly competitivecalled an oligopolyalways in equilibrium11. The table below provides information about the market for DitsiesWhat is the equilibrium price for a kilogram of Ditsies?£30£35£5£1012. Which one of the following is a factor of production?elasticityenvironmental sustainabilityequilibrium enterprise13. The formula to calculate Paasche price index is (o is the base year and n is the given year)P = ΣPnqn/ΣpoqoP = ΣPnqo/ΣpoqoP = ΣPoqo/ΣpnqnP = ΣPnqn/Σpoqn14. The concept of least developed countries was first identified by the United Nations in:198819681978195815. Which of the following is an example of development in a country?an increase in populationthe extension of the electricity grid into previously unconnected rural areasan increase in agricultural productionthe expansion of an existing industry16. Which of the following countries are not newly industrialized countries (NICs)?Singapore.Taiwan.Hong Kong.North Korea.17. An increase in productivity is most likely to lead tofewer economies of scaleincreased supply lower profitshigher average costs18. Nigerians holidaying in the U.K would be shown in the current account asan exporta deficita surplusan import19. The Gross Domestic Product is:the total value of goods and services produced by a country in a yearthe total value of industrial production in a country in a year the combined value of imports and exports for a countrythe value of agricultural production in a country in a year20. A movie actor is between jobs. Which one of the following types of unemployment is the movie actor experiencing?frictionalseasonalstructural cyclical21. If GNP for Vatican City, the smallest country in the world is 200 million euros in year 2001 and its population is 890, GNP per capita is2000 - 890200200/ 890200,000,000 / 89022. Which one of the following businesses operates in the financial sector?a travel agenta jewellery manufactureran auction housean insurance company23. Last year Tirenioluwa spent an average of £320 on her monthly shop. What will be the effect on the cost of her average monthly shop this year if the rate of inflation was 3% last year?the cost will fall to £319.20the cost will fall to £310.40the cost will increase to £320.80the cost will increase to £329.6024. If GDP for Palau a small country near southeast of the Philippines is $130 million in 2002 and its population is 20,000, GDP per capita is6500.0065650013025. Opportunity cost isa financial expensemeasured in terms of what has been foregonethe best way to allocate resourceszero when a market is in equilibrium26. The number of deaths of children under one year of age per 1000 live births is the:child mortality ratetoddler mortality rateneo-natal mortality rateinfant mortality rate27. Which world region has the lowest levels of human development?AfricaEuropeAsiaSouth and Central America28. Economic development refers tosustainable increases in Gross National Product.improvement in the well-being of the urban population.economic growth plus changes in output distribution and economic structure.economic growth.29. Tuvalu is composed of 9 coral atolls along a 360-mile chain in Polynesia. They gained independence in 1978. The former Ellice Islands are home to 9,700 people. If GNP of Tuvalu is $300 million in 2005, GNP per capita is32.333300 000 000 / 9700300/ 3609700 *(1978 / 2005)30. Which of the following are not third-world regions? Africa.Asia.Australia.Latin America.31. Which of the following could not be considered a major economic system?physical quality of life index.communism.socialism.capitalism.none of the above.32. Of the world's population, what portion lives in developing countries?nearly 10 billion people.approximately 80%.approximately 35%.less than 1 billion people.33. One of the first countries to be classed as a newly industrialised country was:the PhilippinesChinaIndiaSouth Korea34. Which one of the following is a benefit of globalisation to a producer?Larger market sizeCurrency conversion will not be requiredHigher taxesIncreased competition35. Which one of the following is an example of a positive externality?a government budget surplusnoise pollutiona motorway improvement schememore exports than imports36. Development economics focuses primarily on the poorest ___________ of the world28 percent.two-thirds.one-third.population.5 percent.37. How many countries were identified as LDCs by The Least Developed Countries Report 2009?3949192938. Most of the world’s LDCs are located in:South AmericaAsiaSub-Saharan AfricaEurope39. An economy that grows very rapidly is often referred to as a:lion economypuma economycheetah economytiger economy40. Which of the following characteristics are most likely found in developing countries?all of the abovelarge number of people living in poverty.none of the abovehigh population growth rates.very traditional methods of agricultural production.41. Which one of the following is an example of a direct tax?VATtax on petrolcouncil taxincome tax42. If GDP for Barbados is $260 million in 2005 and its population is 260, 000, GDP per capita is10002597400.00126043. This supply curve shows thatconsumers prefer low pricesa rise in price will cause an increase in quantity suppliedincreasing the quantity supplied will cause prices to risedemand for this product is price inelastic44. A business which operates in the tertiary sectorextracts raw materialsmakes finished goodsassembles componentsproduces services45. The Gini coefficient is a technique frequently used to show:income inequalityvariations in life expectancydifferences in infant mortalitythe education gap46. Which one of the following is not a cause of economic growth?the discovery of a new natural fuela reduction in the retirement ageimprovements in education and trainingadvances in technology47. Which of the following could be considered critical questions in development economics?What are the major theories of economic development?How do the poorest 2/3 of the world live?all of the above are correct.What factors affect labor skills in the third world?48. In which of the following countries would you expect material lifestyles to be most like those in the United States?Japan.India.Mali.Nigeria.49. If GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austria is US$555 and US$560 in 2004 and 2005 respectively, the real economic growth from 2004 to 2005 is5%0.090%0.901%0.991%50 out of 49Time is Up!
