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  • Eco 101 Quiz HHN

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    ECO101 QUIZ FACULTY HHN NSU

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    Eco 101 quiz hhn

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    ECO101 QUIZ FACULTY HHN NSU

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    10 views2 pages

    Eco 101 Quiz HHN

    Uploaded by

    Asiful
    ECO101 QUIZ FACULTY HHN NSU

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 2
    North South Univegity ECOIOL, Section SPRING 2023, Quite, Math 15, Tim 30, Encircle correct answer for exch question. (OVERWRITING I§ NOT ALLOWED) Each question has I mark Pi Which of the followings could be considered ax “eesoutce”! The corporate Profit of the firm 6) The highly skilled labour force Dividends paid to sharcholer. a) Wages paid to employees. 92 Under what circumstances the PPF could shift outward? ® If the state of technology is improved in the economy, Ifthe population of the country increases. 2. Ifthe volume of export rises ad) Ifthe exchange rate gets depreciated. Q3. The downward sloping straight line PPF implies when the production of the good rises its opportunity cost is a declining constant Increasing d) zero a) Efficient because it is possible to increase the production of one good by decreasing the production of the other. Inefficient because it is possible to increase the production of one good without decreasing the production of the other. ©) Efficient because the existing resources are fully utilized. d)_ Inefficient because it is not possible to increase the production of both goods. ETrade is beneficial when the nations specialize in goods according to their Absolute advantages Comparative advantages ©) Both absolute and comparative advantage. d) No advantages. Identify TRUE/FALSE for following statements. ae Lrincome rises demand curve shifts rightward for an inferior good. FOS _ 7. When the price of complement reduces quantity demanded falls at a fixed price for original good. falbe

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