General Equilibrium Analysis Quiz Questions and Answers PDF - 37

MCQ 181: The rate as a fraction of the price paid to foreigners, equals to the reciprocal of the elasticity supply of a country's imports is called as

1. rate of effective protection
2. specified rate
3. net rate
4. nationally optimal tariff

MCQ 182: The concept that occurs when the output increases by a larger proportion than the increase in inputs during the production process is known as

1. Leontief paradox
2. economies of scale
3. increasing return to scale
4. decreasing return to scale

MCQ 183: A type of market structure in which a small number of firms has the large majority of market share is known as

1. monopoly
2. free market
3. imperfect market
4. oligopoly

MCQ 184: The situation when income is less than the average income by a certain amount is known as

1. partial poverty
2. under poverty
3. relative poverty
4. absolute poverty

MCQ 185: Tariffs are only concerned when a good or services of one's country are

1. exported
2. imported
3. produce
4. sell