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Economics Past Questions and Answers

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Economics Questions

Question 3981:

A country is described as industrialized if

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A The contributions of industries to national income are high
B Traditional and modern sectors coexist
C The country adopts an import promotion strategy
D Primary industries dominate the economy

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Question 3982:

The total value of goods and services produced within the borders of a country is

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A Net national product
B Net domestic product
C Gross domestic product
D Gross national product

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Question 3983:

Which of the following factors will not underestimate the national income?

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A Rapid decrease in prices
B Increased subsistence production
C Practice of specialization of labour
D Increase in value of services not paid for

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Question 3984:

Which of the following items is not considered as a transfer payment?

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A Pension pay
B Government subsidy
C Students' grant
D Doctor's salary

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Question 3985:

Which of the following is true of the value of money? It _____________

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A Is positively related to the price level
B Depends on the value people attach to it
C Is determined by the government
D Is inversely related to the price level

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