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Category: Economics Mcqs
The instruments of foreign policy may be defined as_________________?
A. tools with which nations try to manipulate other nations
B. exchanges entered into in the spirit of trust
C. expressions of human solidarity around the world
D. ways of competing for the title of superpower
In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?
A. There is no rational solution
B. 75/25
C. 99/1
D. 1/99
E. 50/50
Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce ?
A. at the efficient scale and charge a price equal to marginal cost
B. at the efficient scale and charge a price above marginal cost
C. With excess capacity and charge a price above marginal cost
D. With excess capacity and charge a price equal to marginal cost
Latent functions of government include_______________?
A. public education
B. health care
C. the rise of administrative elites
D. war
Negative externality is also known as ?
A. external diseconomies
B. marginal damage
C. public goods
D. resource curse
The U.S balance of payments is constructed by ?
A. the U.S Department of labor
B. the U.S Department of Agriculture
C. the U.S Department of commerce
D. the council of Economic Advisers to the President
In a example discussed in your text Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?
A. The marketing concept
B. The product concept
C. The selling concept
D. The societal marketing concept
Gentrification is the trend of__________________?
A. city dwellers learning proper manners
B. middle class professionals renovating old city housing and using them as
C. continued movement to suburbs
D. city residents returning to manor houses in country
Assuming there is no government or foreign sector, if the MPC is 8 the multiplier is ?
A. 5
B. 8
C. 2
D. 1.25
How is termed a written promise to pay back a specified sum of money at a stated time or on demand ?
A. Promissory Note (PN)
B. Note of hand
C. Both of them
D. None of them
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