last year exam

________ is the ability to exist and develop without depleting natural resources for the future.

• Sustainability

• Effectiveness

• Efficiency

• Optimality

For a decision to be optimal, it mustn’t only be an efficient decision, but also ______.

• Sustainable

• the best

• Technical

• None of the above

Use of gas which is much more expensive than use of coal as a source of energy, as gas is less polluting, could be ______.

• Allocative efficient

• Technically efficient

• Inefficient

• Neutral decision

Ecological economics ______ when compared to environmental economics.

• puts more weight given to future generations

• converts all values to monetary terms

• recognizes internal value

• modifies to maintain ecological functions across time

Which one of the following is NOT a component of the standard circular flow model of the economy?

• The market for goods and services

• Ecological cycles

• The market for factors of production

• Households

Environmental economics is a field of economics which applies ______ to environmental resources issues.

• academic disciplines

• other sciences

• history and philosophy

When exports exceed imports, there’s ______.

• budget deficit

• budget surplus

• trade surplus

• trade deficit

In Egypt’s centrally planned economy, the main trade strategy was:

• Import substitution

• Export Promotion

• Attracting foreign investments

• All of the above

Import substitution policy means:

• Replacing imported goods with domestically produced goods

• Encouraging exports

• Encouraging imports

• Increasing the money supply

When there is inflation, the purchasing power of the currency ______.

• increases

• decreases

• does not change

• All of the above