Please, fill out the information below to continue. NAME EMAIL PHONE NUMBER 1. One of the first countries to be classed as a newly industrialised country was:IndiaSouth KoreaChinathe Philippines2. Which of the following characteristics are most likely found in developing countries?high population growth rates.large number of people living in poverty.none of the aboveall of the abovevery traditional methods of agricultural production.3. Development economics focuses primarily on the poorest ___________ of the world5 percent.population.28 percent.two-thirds.one-third.4. The formula to calculate Paasche price index is (o is the base year and n is the given year)P = ΣPoqo/ΣpnqnP = ΣPnqn/ΣpoqnP = ΣPnqn/ΣpoqoP = ΣPnqo/Σpoqo5. Which one of the following is not a cause of economic growth?a reduction in the retirement agethe discovery of a new natural fuelimprovements in education and trainingadvances in technology6. 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 is0.991%0.901%0.090%5%7. Economic development refers toeconomic growth.economic growth plus changes in output distribution and economic structure.sustainable increases in Gross National Product.improvement in the well-being of the urban population.8. How many countries were identified as LDCs by The Least Developed Countries Report 2009?291939499. According to the Human Development Report 2009, the country with the highest human development (in 2007) was:AustraliaNorwayCanadaJapan10. Which one of the following is a benefit of globalisation to a producer?Increased competitionHigher taxesCurrency conversion will not be requiredLarger market size11. 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?£1680£1320£180£1250012. A market with a single producer isalways in equilibriumdifficult for new firms to entercalled an oligopolyhighly competitive13. Which world region has the lowest levels of human development?South and Central AmericaAsiaEuropeAfrica14. 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£33 080£32 000 £33 000 £32 08015. Opportunity cost iszero when a market is in equilibriummeasured in terms of what has been foregonea financial expensethe best way to allocate resources16. The number of deaths of children under one year of age per 1000 live births is the:neo-natal mortality ratetoddler mortality rateinfant mortality ratechild mortality rate17. 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 increase to £320.80the cost will increase to £329.60the cost will fall to £310.4018. If GDP for Barbados is $260 million in 2005 and its population is 260, 000, GDP per capita is10000.00125974026019. An increase in productivity is most likely to lead tolower profitshigher average costsfewer economies of scaleincreased supply 20. Which one of the following is an example of a positive externality?noise pollutiona motorway improvement schememore exports than importsa government budget surplus21. Most of the world’s LDCs are located in:Sub-Saharan AfricaEuropeAsiaSouth America22. 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 is9700 *(1978 / 2005)32.333300/ 360300 000 000 / 970023. UK interest rates are set by:The EUThe Bank of EnglandThe UK governmentBritish consumers24. 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 made25. Which of the following countries are not newly industrialized countries (NICs)?Taiwan.Singapore.Hong Kong.North Korea.26. Which of the following are not third-world regions? Africa.Australia.Latin America.Asia.27. Which one of the following is a factor of production?environmental sustainabilityelasticityenterpriseequilibrium 28. Which one of the following is a supply side policy which the government could use to help meet its economic objectives?quantitative easingan increase in the rate of corporation taxhigher unemployment benefitsan improved apprenticeship programme29. The table below provides information about the market for Ditsies What is the equilibrium price for a kilogram of Ditsies?£10£5£30£3530. This supply curve shows thata rise in price will cause an increase in quantity suppliedconsumers prefer low pricesincreasing the quantity supplied will cause prices to risedemand for this product is price inelastic31. 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 is200200,000,000 / 890200/ 8902000 - 89032. Which of the following could not be considered a major economic system?socialism.none of the above.communism.physical quality of life index.capitalism.33. A business which operates in the tertiary sectorproduces servicesmakes finished goodsextracts raw materialsassembles components34. Which one of the following is an example of a direct tax?income taxVATcouncil taxtax on petrol35. Which of the following is an example of development in a country?the expansion of an existing industrythe extension of the electricity grid into previously unconnected rural areasan increase in agricultural productionan increase in population36. Which of the following countries is not a low-income country?IndonesiaMalaysiaIndiaNigeria37. A movie actor is between jobs. Which one of the following types of unemployment is the movie actor experiencing?seasonalfrictional cyclicalstructural38. Nigerians holidaying in the U.K would be shown in the current account asan importa surplusan exporta deficit39. The country with the highest GNI (PPP) per capita in 2006–07 was:SingaporeSwitzerlandNorwayLuxembourg40. The concept of least developed countries was first identified by the United Nations in:195819781988196841. The Gini coefficient is a technique frequently used to show:income inequalitydifferences in infant mortalityvariations in life expectancythe education gap42. Of the world's population, what portion lives in developing countries?less than 1 billion people.approximately 80%.nearly 10 billion people.approximately 35%.43. Which of the following is not part of the Human Development Index?life expectancyeducational attainmentinfant mortality GDP per capita44. In which of the following countries would you expect material lifestyles to be most like those in the United States?Mali.Nigeria.Japan.India.45. An economy that grows very rapidly is often referred to as a:tiger economycheetah economypuma economylion economy46. 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 is65000.006513065047. Which of the following could be considered critical questions in development economics?What factors affect labor skills in the third world?all of the above are correct.What are the major theories of economic development?How do the poorest 2/3 of the world live?48. Which one of the following businesses operates in the financial sector?an insurance companya jewellery manufactureran auction housea travel agent49. The Gross Domestic Product is: the combined value of imports and exports for a countrythe total value of industrial production in a country in a yearthe total value of goods and services produced by a country in a yearthe value of agricultural production in a country in a year50 out of 49Time is Up!