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Question-1 What is the name given to the economic policy of using government spending and taxes to influence short-run levels of GDP?

(A) Keynesian monetary policy	(B)Keynesian fiscal policy
(C)classical economics	(D)fiscal responsibility

Question-2 A comparison of Japan?s policies before 1945 with the policies in effect after 1945 indicates that

(A) Reduction in spending on military goods leads to economic depression	(B)Dependence on foreign trade usually leads to a weakened national economy
(C)Territorial aggression is not necessary to secure national economic goals	(D)Democratic institutions hinder economic growth

Question-3 What is the equation for the velocity of money ?

(A) (nominal GDP) / (money supply)	(B)(real GDP) / (money supply)
(C)(money supply) / (real GDP)	(D)(real GDP) / (nominal GDP)

Question-4 Which factor best account for the existence of cash- crop production as a major form of agriculture in many Central American nations today?

(A) Demand of world markets for such crops	(B)Lack of modern agricultural technology
(C)Inadequate supply of water and other natural resources	(D)Peasant ownership of most farmlands

Question-5 If the price index in Japan was 200 in 2004 and 220 in 2005 ,What was the inflation rate during this two-year period ?

(A) 5 %	(B)8 %
(C)10 %	(D)20 %

Question-6 Economic development in Japan after World War II and in Communist China since the 1980?s is similar in that both nations have sought to

(A) End foreign investment	(B)Develop their vast natural resources to achieve economic growth
(C)Utilize the concepts of capitalism to improve their economies	(D)Nationalize most major industries and restrict competition.

Question-7 The emergence of Japan as a world economic power has been based mostly on Japan?s

(A) Development of nuclear power	(B) Abundance of fossil fuels
(C)Strong traditional of military rule	(D)Business enterprises and organization

Question-8 What is one result of an increase in the money supply ?

(A) Short - run increase in demand	(B)Short - run increase in the level of output
(C)Long - run increase in demand	(D)long - run increase in the level of output

Question-9 Which situation has contributed most to recent Japanese economic growth?

(A) The Japanese government has place limits on Japanese exports.	(B)Japanese industries spend very little on the research and development of new products
(C)The Japanese government and Japanese businesses have cooperated with each other	(D)Japanese citizens save less of their incomes than the citizens of other industrialized nation do

Question-10 On principle in the theory of mercantilism is that colonies should be

(A) Granted independence as soon as possible	(B)Considered an economic burden for the colonial power
(C)Encouraged to develop their own industries	(D)Acquired as markets and sources of raw materials

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