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.Management Sciences
Category: Economics Mcqs
In education_______________?
A. the family is unimportant
B. the family is crucial to student success
C. the social class of the family is unimportant
D. smart students easily overcome the disinterest of the family
The sacrifice involved when you choose a particular course of action is called the ?
A. Alternative
B. Opportunity cost
C. Consumer cost
D. Producer cost
If the Supply of loanable funds is very inelastic (steep) Which policy would likely increase saving and investment the most ?
A. a reduction in the budget deficit
B. an increase in the budget deficit
C. an investment tax credit
D. None of the above
Which of the following must always balance ?
A. The balance of visible trade
B. The balance of invisible trade
C. The balance on the current account
D. The balance of payments
The traditional profit-maximizing theory of the firm has been criticized by some economists because ?
A. firms do not know how to maximize profits.
B. firms have other aims
C. it does not explain monopolistic competition
D. Both the first and second option
If demand is linear (a straight line) then price elasticity of demand is ?
A. elastic in the upper portion and inelastic in the lower portion
B. inelastic in the upper portion and elastic in the lower portion
C. inelastic throughout
D. constant along the demand curve
What is called a country’s total financial obligations to the rest of the world ?
A. Total dept
B. Debt burden
C. National liabilities
D. External debt
According to the Laffer curve, as tax rates increase tax revenue ?
A. initially increase and then decrease
B. decrease continuously.
C. rise continuously
D. initially decrease and then increase.
Market value of all final goods and services produced in a country during a year is definition of ?
A. NI
B. NNP
C. GNP
D. Consumption
The implementation of the European Union has ?
A. made it harder for Americans of compete against the Germans in the British market
B. made it easier for Americans to compete against the Germans in the British market
C. made it harder for Americans to compete against the Japanese in the British market
D. made it easier for Americans to compete against the Japanese in the British
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