2. A situation in which one party to a potential transition has more information than another party is called ____. A. Asymmetric Information B. Information externality C. Pecuniary externality D. Pareto Improvement
1. When the S-shaped function cuts the 45-degree line from below there is ____ equilibrium.
A. stable
B. unstable
C. multiple
D. matched
2. A situation in which one party to a potential transition has more information than another
party is called ____.
A. Asymmetric Information
B. Information externality
C. Pecuniary externality
D. Pareto Improvement
3. This theory proposes that a 'bit by bit' investment will not impact the process of growth.
A. Coordination failures
B. Multiple equilibria
C. The Big Push
D. O-Ring theory
4. The situation of being unable or only barely able to meet the subsistence essentials of food,
clothing, shelter, and basic health care.
A. POVERTY
B. ABSOLUTE POVERTY
C. REAL POVERTY
D. NORMAL POVERTY
5. It is the savings expressed as a proportion of disposable income over some period of time
A. SAVINGS RATIO
B. NET SAVINGS RATIO
C. NET RATIO OF SAVINGS
D. NET SAVINGS
6. A condition that must be present, although it need not be in itself sufficient, for an event to
occur.
A. SUFFICIENT CONDITION
B. NECESSARY CONDITION
C. ORDINARY CONDITION
D. PRESENT CONDITION
7. A condition that when present causes or guarantees that an event will or can occur; in
economic models, a condition that logically requires that a statement must be true (or a result
must hold) given other assumption.
A. SUFFICIENT CONDITION
B. NECESSARY CONDITION
C. ORDINARY CONDITION
D. PRESENT CONDITION
8. The process of transforming an economy in such a way that the contribution to national
income by the manufacturing sector eventually surpasses the contribution by the agricultural
sector.
A. INSTITUTIONAL TRANSFORMATION
B. STRUCTURAL TRANSFORMATION
C. NECESSARY TRANSFORMATION
D. SUFFICIENT TRANSFROMATION
9. The increase in total output resulting from the use of one additional unit of a variable factor
of production.
A. TOTAL PRODUCT
B. MARGINAL PRODUCT
C. AVERAGE PRODUCT
D. ADDITIONAL PRODUCT
10.
complementary private and public activities.
A. SELF SUSTAINING GROWTH
B. SELF INTEREST GROWTH
C. SELF GROWTH
D. SUSTAINING GROWTH
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