Question

Question 14

When do we say ‘technological change in production occurs’?

		a) When more output can be produced using more inputs of production
		b) When the same amount of inputs are used to produce more output
		c) When the same amount of output can be produced with less inputs of production
		d) b and c
		e) when more goods and services are produced

Question 15

Which one is an example of a Regional Trade Arrangement (PTA) that is advanced to a level of currency and monetary union?

		a) The North America Free Trade Agreement (NAFTA)
		b) The GCC where UAE is a member
		c) No PTA has so far reached a currency and monetary union
		d) The Euro Zone of Europe

Question 16

The future challenge of food security in the UAE will most likely relate to

		a) the stability of the global agricultural and food trade system
		b) how to improve domestic agricultural production
		c) the increasing UAE population and increasing demand for food
		d) all of the above
		e) there will not be such a concern for UAE food security in future at all

Question 17

Which international trade negotiation forum (Round of talk) has specially focused on the link between economic growth and trade liberalization?

		a) The Tokyo Round
		b) The Uruguay Round
		c) The Doha Round
		d) The Kennedy Round

Answer 1

Question 14

The correct answer is option d.

Technological change refers to the change focused on increasing the efficiency of product or process which in turn increase the output and not increasing the input or produce same amount of output by decreasing the input. So technological change relates to how the organization does its work.