Economics 2011 | Study Mode

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Question 21
A
an increase in military expenditure
B
an increase in capacity utilization
C
a sustained increase in per capital income
D
an even distribution of goods and services
Explanation

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Correct option: C
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Question 22
A
GDP gap
B
GDP at factor cost
C
GDP at market price
D
GDP deflator
Explanation

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Correct option: C
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Question 23
A
increase revenue
B
reduce aggregate demand
C
curb inflation
D
stimulate investment
Explanation

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Correct option: C
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Question 24
A
domestic production
B
large-scale production
C
importation
D
exportation
Explanation
Import substitution, also referred to as import substitution industrialization (ISI), is a set of policies that addresses the developmental concerns of structurally deficient economic countries. As the name suggests, the ultimate goal of ISI is to promote a countrys economic industrialization by encouraging domestic production and discouraging imports of consumer goods.

Correct option: A
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Question 25
A
management of pollution
B
marketing of refined products
C
exploration of crude oil
D
refining of crude oil
Explanation

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Correct option: C
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Question 26
A
ineffective use of stabilization measures
B
inadequate demand
C
poor implementation of policies
D
balance of payments deficits
Explanation

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Correct option: C
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Question 27
A
oversee the development of the oil sector
B
develop the oil producing area
C
fix the price of products
D
ensure regular supply of products
Explanation

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Correct option: A
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Question 28
A
sufficient food production
B
a vibrant commodity market
C
capital inflow
D
stable export prices
Explanation

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Correct option: A
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Question 29
A
signing WTO treaty
B
granting subsidies
C
the provision of efficient infrastructure
D
direct government participation
Explanation

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Correct option: B
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Question 30
A
capital account
B
balance of payments
C
current account
D
balance of trade
Explanation

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Correct option: B

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