WHSS Economics: Assignment Week End 4

Human Development Index, HDI, is a tool to primarily measure:

• Economic Growth

• Price Stability

• Balance of Payments

• Economic Development

A rise in police service to tackle higher crime rates will increase __________________ but will most likely adversely affect _______________.

• Economic Development, Economic Growth

• Economic Growth, Economic Development.

• Inflation, Economic Growth

• Economic Development, Poverty

An exchange rate based on the ratio of the price of a basket of products in different countries is known as:

• Consumer Price Index

• Purchasing Power Parity

• Exchange Rate

• GDP Per Capita

Sacrificing some profit to meet some other corporate goals is known as

• Profit Maximization

• Profit Satisficing

• Social Welfare

• Growth

A firm produces 50 units of output. The total variable cost of this output is $200 and the total fixed cost is $300. What is the average total cost of production?

• $2

• $4

• $6

• $10

What is is the value of (v)

• 190

• 240

• 300

• 270

What is is the value of (iii)

• 100

• 90

• 150

• 70

Each bag of handmade sweets is sold for £1.50. How much profit is made when the shop sells 300 bags?

• £150

• £450

• £180

• £120

Using the data in Figure 3, describe what happened to prices in India from 2014 to 2015.

• Increasing at a faster rate

• Decreasing at a faster rate

• Increasing at a slower rate

• Decreasing at a slower rate

Figure 4a shows the current account of the balance of payments for Turkey in 2007. Complete the table below.

• (54)

• 54

• (40)

• 40