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1) Two or more nuclear families of parent(s) and children is known as ? a. dual family b. institutional family c. extended family d. two-tier family tree
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2) Increases in real GNP per capita occur when ? a. government programs direct resources away from investment goods to consumer goods. b. tariffs and quotas prevent dollars from leaving the country c. the rate of growth of real GNP is greater than the rate of growth of population d. the level of consumption expenditures rises relative to the level of saving
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3) The low-income economies generally have the following except ? a. deficient infrastructures b. low life expectancies c. low savings d. a per capital GNP of more than $900
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4) Industrialization? a. causes development b. is positively related to development c. id inversely related to development d. inhibits development
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5) What is gross domestic product (GDP) ? a. income earned through foreign exchange b. the number of dollars earned in industry c. income earned within a country’s boundaries d. goods received from the nation’s residents
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6) Increasing in the real GNP per capita occur when ? a. government programs direct resources away from investment goods to consumer goods. b. tariffs and quotas prevent countries from trading and thus prevent dollars from leaving each country c. the rate of growth in real GNP is greater than the rate of growth in the population d. the level of consumption expenditures rises relative to the level of savings
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7) A country’s export commodity concentration ratio is the ? a. average annual investment made in production of exported commodities b. proportion of the primary export commodity in total exports c. ratio of four leading commodities to total merchandise exports d. total annual investment made in production of exported commodities
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8) Which of the following is not a requirement for economic development ? a. a temperate climate b. natural resources c. an adequate capital bases d. technological advance
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9) The informal sector includes ?
I-artisans, cottage industrialists, petty traders, teashop proprietors II- garbage pickers jitney unauthorized taxis repair persons III- the self employed IV- activities with little capital skill and entry barriers a. I and II only b. III and IV only c. IV only d. I, II, III and IV
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10) Economic rent ? a. is productive activity to obtain private benefit from public action and resources b. are the payments above the minimum essential to attract the resources to the market? c. is the wage used to pay unskilled workers? d. does not include monopoly profits
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11) Export primary commodity concentration ratios are ? a. commodity exports as a percentage of GDP per capita of exporting country divided by importing country b. export earnings as a ratio of population c. total merchandise export divided by Gross National Income d. food, raw materials minerals and organic oils and fat as a percentage of total merchandise exports
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12) A country’s capital stock is the ? a. approximated investment minus actual investment b. inflow of investment from abroad c. sum of previous gross investment minus depreciation d. difference between GDP and capital consumption
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13) Peasants are ? a. rural politicians b. rural cultivators c. rural industrialist d. rural, religious group
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14) As economic development proceeds income inequality tends to follow a(n) _____ curve? a. convex b. inverted U shaped c. L-shaped d. S-Shaped
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