Economics (2016) | Study Mode

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Question 41
A
lack of raw materials
B
lack of market for produce
C
inadequate skilled labour
D
over-dependence on the oil sector
Explanation

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Correct option: D
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Question 42
A
Law of diminishing marginal utility
B
Value in use and value in exchange principle
C
Law of returns to scale
D
Diamond and water paradox
Explanation

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Correct option: B
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Question 43
A
Revaluation of currency
B
Collective bargaining
C
Reducing demand for imported goods
D
Imposing lower export duties
Explanation

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Correct option: C
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Question 44
A
Opportunity for combating inflation
B
Depression in the economy
C
Shortage in money supply
D
Opportunity for full employment
Explanation

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Correct option: D
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Question 45
A
Dependency ratio
B
Labour force
C
Per capita
D
Net migration
Explanation

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Correct option: D
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Question 46
A
Excess demand over supply
B
Under- capacity utilization
C
Excess supply over demand
D
Economic boom
Explanation

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Correct option: C
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Question 47
A
Inelastic supply
B
Perfectly elastic
C
Elastic supply
D
Unitary elastic
Explanation

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Correct option: C
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Question 48
A
Low interest charges on loans
B
High standard of living
C
Low foreign exchange rate
D
Improvements in infrastructure
Explanation

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Correct option: D
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Question 49
A
Prime cost
B
Explicit cost
C
Average cost
D
Implicit cost
Explanation

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Correct option: B
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Question 50
A

Corruption and political instability

B

Over-dependence on foreign aid

C

High cost of plan implementation

D

Shortage of personnel

Explanation

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Correct option: A

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