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.Management Sciences
Category: Economics Mcqs
Assume that firms in an oligopoly are currently colluding to set price and output to maximise total industry profit. If the oligopolists are forced to stop colluding, the price charged by the oligopolists will _________ and the total output produced will __________?
A. decrease; decrease
B. increase; decrease
C. decrease; increase
D. increase; increase
What is called the situation in which a debtor remains unable to pay his creditors in full ?
A. Bankruptcy
B. Default
C. Total loss
D. Crash
Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called?
A. custom products
B. specialty products
C. convenience products
D. shopping products
Secondary sex characteristics________________?
A. are anatomical differences between men and women
B. develop when specific hormones are introduced into an organism
C. are mental differences between men and women
D. none of the above
An increase in the budget surplus ?
A. Shifts the supply of loanable funds to the left and increase the real interest rate
B. Shift the supply of loanable funds to the right and reduces the real interest rate.
C. Shifts the demand for loanable funds to the right and increases the real interest rate.
D. Shifts the demand for loanable funds to the left and reduces the real interest rate
Refer to Exhibit 4. If a tax is placed on the product in this market, producer surplus is the area?
A. A + B + E
B. A + B + C + D
C. A
D. D
What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?
A. Prudent development
B. Sustainable development
C. Managed economy
D. None of these
Which condition is a major obstacle to economic development in the Middle East and Northern Africa ?
A. use of strip mining to obtain minerals
B. reliance on capitalist economic systems
C. lack of access to world markets
D. scarcity of water resources
Which statement appears to be most correct__________________?
A. gender roles have been reversed
B. in a marriage spousal role are egalitarian
C. housekeeping and childcare are still considered women’s work
D. sex roles are blurred
Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?
A. Rs 0 per month
B. Rs 30 per month
C. Rs 40 per month
D. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0
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