A feasible effect of international trade is that a (an) ?

A. Monopoly in the home market becomes an oligopoly in the world market
B. Oligopoly in the home market becomes a monopoly in the world market
C. Purely competitive firm in the home market becomes an oligopolist
D. Purely competitive firm in the home market becomes a monopolist

One classification of development levels used by the World Bank divides countries into three group on the basis of GNP per capita They are ?

A. Nic, opec and g7
B. Low income , middle income and high income
C. Southeast northeast and southwest
D. Asia, america and europe

OPEC is the ?

A. Organization of petroleum exporting country
B. Organization of pre-european commission
C. Oil producing economies caucus
D. Organization of problematic economies committee

The Paasche index uses _________ weights?

A. Current-year
B. Base-year
C. Fisher-ideal index
D. Purchasing power parity (ppp)

The University of Pennsylvania researchers Summers and Heston compute the price level of GDP as the ratio of purchasing power parity (PPP) exchange rate to the actual exchange rate where ?

A. Both exchange rates are measured s the domestic currency price of the us-dollar
B. Both exchange rates are not converted into international dollars
C. Both exchange rate are pegged
D. Both exchange rate are converted into big mac ppp formula

The Physical Quality of Life Index (PQLI) combines three indicators They are ?

A. Infant mortality life expectancy and adult literacy rate
B. Crime rate clean environment and quality of housing
C. Air pollution rate, water pollution rate and sanitation
D. Health education and environment

Longevity is proxy for ________ in the Human Development Index?

A. Health and nutrition
B. Living standard
C. Infant mortality
D. Purchasing power parity

According to the next basic needs include ?

A. Food, clothing and housing
B. Health, education and quality housing
C. Adequate nutrition, primary education health sanitation water supply and housing
D. Longevity and living standards

A primary reason why nations conduct international trade is because ?

A. Some nations prefer to produce one thing while others produce another
B. Resources are not equally distributed to all trading nations
C. Trade enhances opportunities to accumulate profits
D. Interest rates are not identical in all trading nations

The formula to calculate economic growth from 2001 to 2002 is given by ?

A. [(gdp2002 + gdp2001)/gdp2001]100
B. [(gdp2002 – gdp2001) gdp2001]100
C. [(gdp2002 – gdp2001)/gdp2001]100
D. [(gdp2001 – gdp2002]100