Economics MCQs

A. $100, 2 million barrels per day $60 million
B. $80, 4 million barrels per day $70 million
C. $60, 6 million barrels per day, $20 million
D. $40, 8 million barrels per day, $0 million

A. Sell 4 million pounds of tin
B. Sell 8 million pounds of tin
C. Buy 4 million pounds of tin
D. Buy 8 million pounds of tin

A. Sell 4 million pounds of tin
B. Sell 8 million pounds of tin
C. Buy 4 million pounds of tin
D. Buy 8 million pounds of tin

A. International trade per capita
B. Real income per capital
C. Unemployment per capita
D. Calories per capita

A. Balance of trade deficits
B. Price inflation
C. Constrained economic growth
D. Improving terms of trade

A. Import substitution
B. Export promotion
C. Commercial dumping
D. Multilateral contract

A. Relatively greater than
B. Relatively less than
C. The same as
D. Any of the above

A. Labor forces increase
B. Capital stocks increase
C. New inventions increase productivity
D. All of the above

A. Has shown that is easy to achieve cooperation among cartel members
B. Was successful in raising oil prices in the 1970s but was disbanded in the 1980s
C. Has shown greater success in realizing profits during periods of global recession
D. Has had a level of success in raising oil prices that other developing countries are unlikely to achieve with other primary commodities

A. Is the first of the east asian countries to be recognized for a successful outward-oriented development strategy
B. Has retained to the present time its strategy of import substitution as a source of economic growth
C. Has always accounted for a significant share of international trade, given its very large population
D. Has significantly increased its openness to international trade and foreign investment in recent decades