Education

Practice JUPEB ECONOMICS – MSS – J133 Past Questions Essay and Objectives

46. The part of income after tax that is not consumed is defined as

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             A. Saving

              B. Capital investment

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             C. Wages and salaries

             D. Nondurable goods expenditure.

47.        Government uses all of the following ways to redistribute income, except

             A. Transfer earnings

             B.  Market intervention

             C.  Limited liability

             D. Taxation.

48.        Which of the following nations is the world’s leading trading nation in terms of

absolute volumes of imports and exports?

             A. Japan.

             B. China.

             C. Germany.

             D. United States

49.        One of the potential problems with the European Union is that

              A. An unregulated free flow of labour and capital may reduce productivity

             B. Economies of large scale  production may increase consumer prices

             C. Tariffs may reduce trade with non-member nations   

             D. Government may have difficulty covering the shortfall from the elimination of

duties

                  and taxes.

50.        One major criticism of foreign aid to developing countries is that it

                A.   Provides incentives for capital flight

                B.  Is capital using rather than capital saving

               C. Encourages growth in government bureaucracy

               D. Gives too much power and control to world bank.

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