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.Management Sciences
Category: Economics Mcqs
If a long run average cost curve is falling form left to right this is an example of ?
A. increasing returns to scale
B. decreasing returns to scale
C. constant returns to scale
D. the minimum efficient scale
Assume that a Big Mac hamburger cost $3 in the United States 2 pesos in Mexico The implied purchasing power parity exchange rate between the peso and the dollar is ?
A. 0.67 pesos = $1
B. 0.8 pesos = $1
C. 1.25 pesos = $1
D. 1.67 pesos = $1
Which of the following is an example of a sociological theory of deviant behavior ?
A. Freud,s theory that anatomy is destiny
B. Mead,s theory of inherited criminality
C. Cooley,s theory of original sin
D. None of the above
Specialized socialization occurs most frequently in________________?
A. the family
B. the peer groups
C. church
D. occupational groups or organizations
In autarky, when a community maximizes its standard of living its production point is ?
A. below the production possibility frontier
B. on the production possibility frontier
C. above the production possibility frontier
D. can’t tell without more information
Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ?
A. Price fall; output rises
B. Price fall; output falls
C. Price rise; output fall
D. Price rise; output rise
Industrialization was accompanied by_______________?
A. creation of a middle class
B. dehumanization and commodification of labor
C. continued accumulation and reinvestment of capital
D. All of the above
Which is not a characteristic of urban life ?
A. Loss of humanistic value
B. Impersonal relationship
C. informal relationship
D. Competition
Which approach predicts that is an economy operates a full employment and faces trade deficit currency devaluation will improve the trade balance only if domestic spending is cut thus freeing resources to produce exports ?
A. the absorption approaches
B. the Marshall Lerner approach
C. the monetary approach
D. the elasticities approach
Gambling and prostitution are included in the category of______________?
A. organized crime
B. crimes against persons
C. social order crimes
D. sins against religious teaching
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