COMPARATIVE ECONOMIC PLANNING EXAMINATION

Revise Questions

I. MULTIPLE CHOICE

1. This refers to the effort and time people give in producing goods or rendering
services.
a. Producers
b. Labor
c. Service
d. Entrepreneurship

2. It is the study of the national and international economies and how they are affected
by large scale choices and public policies.
a. Microeconomics
b. Macroeconomics
c. Economics
d. All of the above

3. This is a Latin translation for the phrase, “letting everything else be equal” or “holding
everything else constant”.
a. Ceteris paribu
b. vel omnibus paribus.
c. isdem copiis atque opportunitatibus,
d. omnia inaequalia

4. Which of the following countries are not newly industrialized countries (NICs)?
a. Taiwan.
b. North Korea.
c. Singapore.
d. Hong Kong.

5. Which country is not a transitional economy

a. China.
b. Russia.
c. Hungary.
d. Mexico.

6. Development economics focuses primarily on the poorest ___________ of the

world's
a.5 percent
 b. two-thirds.
c. one-third.
d.28 percent.
.

7. The poorest region of the world is

a. Somalia
b. sub-Saharan Africa.
c. Mozambique
d. Central African Republic

8. In which of the following countries would you expect material lifestyles to be most
like those in the United States?
a. China
b. Japan.
c. Austria
d. Germany

9. Compared to the income of the family of Balayya discussed in the text, the Smiths'
family income was roughly
a. twice as large.
b. 10 to 12 times as large.
c. 200 times larger.
d. -three-fourths as large.

10. Which of the following characteristics are most likely found in developing
countries?
a. high population growth rates.
b. large number of people living in poverty.
c. very traditional methods of agricultural production.
d. all of the above