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7೩,

What is meant by ‘trickle down effect'?
(ಯ) that economic growth will eventually (automatically) bring benefits to the
(B) that economic growth needs to 106 controlled by the state ∎
(C) that economic growth needs delivery systems to being benefits to the poor
(D) none of the options given are correct

What do dependency theorists believe?
(ಯ) That free-market development primarily helps the rich
(B) That developing countries should be dependent on free market development
(C) That economic growth is dependent on the poor
(D) All of the options given are correct

According to the monetarists, in the long-run, the Philips curve is :

(4) wvertical (B) horizontal
(0) downward sloping (D) upward sloping
The demand for money will fall if, :
(^) real GDP rises . (B) real interest rate rises
(೧) the GDP deflator rises (D) people expected deflation soon
The largest transfer in the federal budget is :
(ക Defence (B) Education
(C) Social security (D) Welfare
The period of the business cycle in which real GDP is increasing is called the :
(ಯ) expansion (2) peak
(C) recession (D) depression

A type of unemployment in which workers are in between jobs or are searching for new and
better jobs is called :

(A) frictional (B) cyclical

(0) structural (D) turnover
Which of the following ie a ‘loser’ from unexpected inflation :

(A) Workers with COLAs

(B) The middle class

(C) People who own treasury
(D) People who own homes and have fixed rate mortgages

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