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Economics MCQs with Explanations

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1591EconomicsMedium

People often accept social control based on________?

Anegative sanctions

harsh rules

Cpositive sanctions

Dviolence

Correct answer

C. positive sanctions

Explanation

The correct answer is positive sanctions.

1592EconomicsMedium

The labour force can be defined as?

AThe population between school leaving age and retirement age.

Banyone who is working or actively seeking work

CThose of working age who are seeking work and are available to for work at current wage rates.

DThose who could claim benefit if they were to become unemployed.

Correct answer

C. Those of working age who are seeking work and are available to for work at current wage rates.

Explanation

The correct answer is Those of working age who are seeking work and are available to for work at current wage rates..

1593EconomicsMedium

When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives they are in which of the following new process development stages?

AConcept development and testing

BMarketing strategy development

CCommercialization

DBusiness analysis

Correct answer

D. Business analysis

Explanation

The correct answer is Business analysis.

1594EconomicsMedium

Percentage of total industry sales that a particular company controls is called?

AHolding share

BLion’s share

CNet share

DMarket share

Correct answer

D. Market share

Explanation

The correct answer is Market share.

1595EconomicsMedium

If the MPC is 0.5 the multiplier is?

A20

C1/2

D0.2

Correct answer

B. 2

Explanation

The correct answer is 2.

1596EconomicsMedium

A significant increase in the government budget deficit is likely to?

ABoost aggregate demand

BReduce injections into the economy

CMove the economy away from full employment

DReduce national income

Correct answer

C. Move the economy away from full employment

Explanation

The correct answer is Move the economy away from full employment.

1597EconomicsMedium

If a country an imposes an import tariff, its welfare can improve if?

Athe country is a small country rather than a larger country

BThe tariff enhances the welfare of its trading partners

CIts government’s tax revenue increases because of the tariff

Dits terms of trade improve enough

Correct answer

D. its terms of trade improve enough

Explanation

The correct answer is its terms of trade improve enough.

1598EconomicsMedium

A widely used indicator to differentiate developed countries from developing countries is?

Aunemployment per capita

Breal income per capital

Cinternational trade per capita

Dcalories per capita

Correct answer

B. real income per capital

Explanation

The correct answer is real income per capital.

1599EconomicsMedium

Second- and third-generation immigrants failed to melt in the melting pot because of________?

Aresidence stability

Breligion

Cskin color

Dlanguage differences

Correct answer

B. religion

Explanation

The correct answer is religion.

1600EconomicsMedium

The purpose of the Monroe Doctrine was________?

Ato warn European powers to keep away from the Western Hemisphere in return for U.S nonintervention in Europe

Bto conquer the Soviet regime and attach Siberia to the United States

Cto let the world, know who the superpower is

Dto warn the Japanese to steer clear of the Caribbean in exchange for U.S non-intervention in Afghanistan

Correct answer

A. to warn European powers to keep away from the Western Hemisphere in return for U.S nonintervention in Europe

Explanation

The correct answer is to warn European powers to keep away from the Western Hemisphere in return for U.S nonintervention in Europe.

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