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Economics MCQs with Explanations

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1191EconomicsMedium

Gender assignment is based on________?

Abiological sex only

Ba combination of biology and socialization

Csocial expectations only

Dsexuality only

Correct answer

B. a combination of biology and socialization

Explanation

The correct answer is a combination of biology and socialization.

1192EconomicsMedium

If a nation fitting the criteria for the large nation model imposes an import tariff?

AThe domestic price of the product will increase by the same amount as the tariff

BNone of the above

CThe domestic price of the product will increase by less than the tariff

Dthe domestic price of the product will increase by more than the tariff itself

Correct answer

C. The domestic price of the product will increase by less than the tariff

Explanation

The correct answer is The domestic price of the product will increase by less than the tariff.

1193EconomicsMedium

Progress that meets the needs of the present without compromising the ability of future generations to meet their own needs is?

Asustainable development

Bthe impossibility theorem

Cnet primary productivity (NPP)

Dthe tragedy of commons

Correct answer

A. sustainable development

Explanation

The correct answer is sustainable development.

1194EconomicsMedium

When countries from large trading blocs like the EU, the size of the bloc has the effect of improving them?

Abalance of trade

Bterms of trade

Cbalance of payments

Dcomparative advantage

Correct answer

B. terms of trade

Explanation

The correct answer is terms of trade.

1195EconomicsMedium

An essential attribute of inflation is?

AIncrease in prices

BNone of these

CFall in production

DStagflation

Correct answer

A. Increase in prices

Explanation

The correct answer is Increase in prices.

1196EconomicsMedium

The system of distributing political power between a central national government and the governments of the geographical regions of the nation is called?

AUnitarianism

Bfederalism

Cconfederacy

Dcentralism

Correct answer

B. federalism

Explanation

The correct answer is federalism.

1197EconomicsMedium

By reducing the volume of trade transportation costs tend to?

Aeliminate all of the feasible gains from international trade

Bensure that the process of product price equalization and factor price equalization are complete

Cstop the process of product price equalization and factor price equalization before they are complete:

Dmaximize all of the feasible gains from international trade

Correct answer

C. stop the process of product price equalization and factor price equalization before they are complete:

Explanation

The correct answer is stop the process of product price equalization and factor price equalization before they are complete:.

1198EconomicsMedium

If you income during one year is Rs10,000 and the following year it is Rs12,000 then it has grown by ________?

A2%

B12%

C20%

D16%

Correct answer

C. 20%

Explanation

The correct answer is 20%.

1199EconomicsMedium

Concerns that the manufactures of harmful products such as tobacco have influence on lawmakers to the detriment of the public interest is used as evidence of which criticism of marketing?

ACultural pollution

BToo few social goods

CToo much political power

DToo much advertising

Correct answer

C. Too much political power

Explanation

The correct answer is Too much political power.

1200EconomicsMedium

During the era of dollar appreciation from 1981 to 1985 a main reason why the dollar did not fall in value was?

Aflows of foreign investment into the United States

Ba substantial decrease in U.S imports

Ca substantial increase in U.S exports

Drising price inflation in the United States

Correct answer

A. flows of foreign investment into the United States

Explanation

The correct answer is flows of foreign investment into the United States.

If a nation fitting the criteria for the large nation model imposes an import tariff?

AThe domestic price of the product will increase by the same amount as the tariff

BNone of the above

CThe domestic price of the product will increase by less than the tariff

Dthe domestic price of the product will increase by more than the tariff itself

Correct answer

C. The domestic price of the product will increase by less than the tariff

Explanation

The correct answer is The domestic price of the product will increase by less than the tariff.

By reducing the volume of trade transportation costs tend to?

Aeliminate all of the feasible gains from international trade

Bensure that the process of product price equalization and factor price equalization are complete

Cstop the process of product price equalization and factor price equalization before they are complete:

Dmaximize all of the feasible gains from international trade

Correct answer

C. stop the process of product price equalization and factor price equalization before they are complete:

Explanation

The correct answer is stop the process of product price equalization and factor price equalization before they are complete:.

During the era of dollar appreciation from 1981 to 1985 a main reason why the dollar did not fall in value was?

Aflows of foreign investment into the United States

Ba substantial decrease in U.S imports

Ca substantial increase in U.S exports

Drising price inflation in the United States

Correct answer

A. flows of foreign investment into the United States

Explanation

The correct answer is flows of foreign investment into the United States.