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.Management Sciences
Category: Economics Mcqs
Gestalt psychology looks at__________________?
A. separate items of personality
B. behavior as whole
C. instincts
D. physical appearance
In one sense of the term everyone is ethnocentric This is because______________?
A. it is virtually impossible not to view people and situations in terms of some of the norms and categories derived from one,s own cultural experiences
B. people are intolerant by nature
C. people are afraid and distrustful of strangers
D. it is impossible to understand another culture or subculture without having been raised in it
GNP includes ?
A. A loan from a bank
B. A loan from one’s parents
C. Gifts and donations
D. A broker’s commission
According to the factor endowment model of Heckscher and Ohlin, countries heavily endowed with land will ?
A. Devote excessive amounts of resources to agricultural production
B. Devote insufficient amounts of resources to agricultural production
C. Export products that are land-intensive
D. Import products that are land-intensive
The cause of freedom is served according to democratic capitalists when__________________?
A. everyone has economic security
B. everyone has the right to hold private property
C. welfare is eliminated
D. everyone has the chance to become a millionaire
If the price is less than the average costs but higher than the average variable costs ?
A. The firm is making a loss and will shutdown in the short term
B. The firm is making a profile
C. The firm is making a loss but will continue to produce in the short term
D. The firm is making a loss and is making a negative contribution to fixed costs
Marx regarded religion as______________?
A. a deliberate hoax on the part of dominant classes
B. alienating on both personal and social levels
C. an opiate
D. all of the above
The nuclear family is characteristic of industrial societies because______________?
A. most functions are better performed in secondary groups
B. geographic and social mobility are common in industrial societies
C. ascribed status is more important in industrial societies
D. a large family means more hands to work
Which of the following is a possible government objective as opposed to a policy ?
A. Lower interest rates
B. Lower taxation rates
C. Lower government spending
D. Lower inflation
When internal economies of scale occur ?
A. Total costs fall
B. Marginal costs increase
C. Average costs fall
D. Revenue falls
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