Economics weekly assessment (21/03/25)

Less developed countries obtain foreign exchange reserve mainly from the export of

Manufactured goods

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Processed and semi processed commodities

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Invisible items

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Primary product

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All of the above

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By ‘trade by barter’, we mean

Trade done by people in the village

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Exchange of goods for money

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International trade

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Exchange of goods for goods

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The trade of the middle ages

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In order to build up its capital stock, the typical less developed country should ideally

Increase total saving

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Depend on hand-out from foreigners

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Impose tariff on import

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Nationalize all foreign concern

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None of the above

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The advantage of sole proprietorship is as follows

It is always successful

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Continuity is no problem

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Control and supervision is under one man

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Funds are easy to obtain

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Inter-generational equity is assured

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Which of these should determine, in a planned economy how the factors of production are to be allocated among different production activities

Fairness

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The distribution of income and wealth

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Public need which is determined by the government

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Private needs determined by the market

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The ability of individuals to make profit

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The best way to reduce the supply of money in the economy is to?

Increase the liquidity ratio

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Increase the number of bank-notes and cheques produced

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Decrease treasury bills

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Liberalize access to credit

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Gresham’s law in Economics shows that?

Good drives out bad money

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Bad money drives out good money

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The value of money varies inversely with the price level

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Gold must be available to maintain the price of paper money

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Monetary policy aimed at reducing demand-pull inflation in the country may be carried out through?

Increase in taxation of private companies, public corporations, and private individuals

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Increase in cash reserve ratio of commercial banks and the sale of government securities

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Decrease in government expenditure on education

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Direct price control in the market place

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Progressive tax structure is designed to?

Take more from the income of the poor

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Take more from the income of the rich

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Take an equal proportion of income from both the rich and the poor

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Reduce the problems emanating from tax imposition

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Taxes and government expenditures are instruments of?

Monetary policy

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Tax policy

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Economic policy

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Fiscal policy

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Economics weekly assessment (21/03/25)

Economics weekly assessment (21/03/25)

ola March 21, 2025

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