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.Management Sciences
Category: Economics Mcqs
What can a government do to increase demand in its economy ?
A. Budget for a surplus
B. Cut taxes
C. Encourage savings
D. Reduce its expenditure
The kinked demand curve model of oligopoly assumes the elasticity of demand ?
A. in response to a price increase is less elastic than the elasticity of demand in response to a price decrease
B. is perfectly elastic if price increases and perfectly inelastic if price decreases
C. is constant regardless of whether price increase of decrease.
D. in response to a price increases is more elastic than the elasticity of demand in response to a price decrease
Which of the following statements is not true with regard to the standard properties of indifference curves ?
A. Indifference curves are downward sloping
B. indifference curves are bowed outward
C. Indifference curves do not cross each other
D. Higher indifference curve is preferred to lower ones
_______ is quoted as saying that everyone lives by selling something?
A. Bill Gates
B. Robert Louis Stevenson
C. Arthur Miller
D. Henry Ford
Italy has had many changes in political leadership since World War II However economic and legal specialists keep the nation going We would call their authority_______________?
A. legal-rational
B. charismatic
C. traditional
D. irrational
Suppose the price level falls but because of fixed nominal wage contracts the real wage rises and firms cut back on production This is a demonstration of the ?
A. sticky-wage theory of the short-run aggregate supply curve
B. classical dichotomy theory of the short-run aggregate supply curve
C. misperceptions theory of the short-run aggregate supply curve
D. sticky-price theory of the short run aggregate supply curve
If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?
A. Rs18,000
B. Rs20,000
C. Rs2,000
D. Rs0.
A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work, save and invest. These economists are?
A. Supply-side economics
B. neo-Keynesian economists
C. rational-expectations economists.
D. new classical economists.
Which of the following is a characteristic of pure monopoly ?
A. One seller of the product
B. low barriers to entry
C. close substitute products
D. perfect information
Which countries terms of trade improved between 1990 and 2000 ?
A. Mexico and Denmark
B. Sweden and Denmark
C. Sweden and Spain
D. Mexico and Sweden
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