Eco403 solved final term past papers mega file

Question No: 1 ( Marks: 1 ) - Please choose one
Scarcity can best be defined as a situation in which:
There are no buyers willing to purchase what sellers have produced.
There is more than enough money to satisfy consumers' wants.
Resources are limited in quantity and can be used in different ways.
There are not enough goods to satisfy all of the buyers' demand.
Question No: 2 ( Marks: 1 ) - Please choose one
In the circular flow diagram, firms _____________ inputs and households ____________
products.
Supply; Demand
Demand; supply
Supply; supply
Demand ; demand
Question No: 3 ( Marks: 1 ) - Please choose one
Gross domestic product measured in terms of the prices of a fixed, or base, year is:
Base GDP.
Current GDP.
Real GDP.
Nominal GDP.
Question No: 4 ( Marks: 1 ) - Please choose one
The number of people unemployed equals:
The number of people employed minus the labor force.
The labor force plus the number of people employed.
The number of people employed divided by the labor force.
The labor force minus the number of people employed.
Question No: 5 ( Marks: 1 ) - Please choose one
Keeping in mind the functions of money, which one of the following is money?
Currency
Check
Credit cards
Time deposits
Question No: 6 ( Marks: 1 ) - Please choose one
Which of the following would not be included in M2?
Demand deposits
Checking accounts
Money market accounts
None of the given options
Question No: 7 ( Marks: 1 ) - Please choose one
The relationship between consumer spending and income is known as the:
45-degree line.
Consumption function.
Investment function.
Consumer price index.
Download Complete file: Click here