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Economics MCQs with Explanations

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1791EconomicsMedium

Exceptions to the circular flow are________?

AB and C only

Binjections

Cincidentals

Dwithdrawals

Correct answer

A. B and C only

Explanation

The correct answer is B and C only.

1792EconomicsMedium

The implementation of the European Union has?

Amade it easier for Americans to compete against the Japanese in the British

Bmade it easier for Americans to compete against the Germans in the British market

Cmade it harder for Americans to compete against the Japanese in the British market

Dmade it harder for Americans of compete against the Germans in the British market

Correct answer

D. made it harder for Americans of compete against the Germans in the British market

Explanation

The correct answer is made it harder for Americans of compete against the Germans in the British market.

1793EconomicsMedium

Which is an ascribed status?

AThief

BBlack female

CPresident of the U.S

DExotic dancer

Correct answer

B. Black female

Explanation

The correct answer is Black female.

1794EconomicsMedium

The practice of requiring degrees as a minimum hiring requirement is called________?

Aacademicism

Bsyndication

Ccredentialism

Delitism

Correct answer

C. credentialism

Explanation

The correct answer is credentialism.

1795EconomicsMedium

New classical theories were an attempt to explain?

AThe increase in the growth rate of real output in the 1950s

Bhow unemployment could have persisted for so long during the Great Depression

CWhy policy changes that are perceived as permanent have more of an impact on a person’s behaviour than policy changes that are viewed as temporary.

Dthe stagflation of the 1970s

Correct answer

D. the stagflation of the 1970s

Explanation

The correct answer is the stagflation of the 1970s.

1796EconomicsMedium

Regarding capitalist industrial societies Marx asserted that________?

Athey contained the seeds of their own destruction

Bproperty is unimportant in the modern state

Cthe means of production are controlled by the masses

Dreligion and philosophy are the foundations of society

Correct answer

A. they contained the seeds of their own destruction

Explanation

The correct answer is they contained the seeds of their own destruction.

1797EconomicsMedium

-7-+47-+45-+-+Since people respond to incentives, we would expect that if the average salary of accountants increases by 50% while the average salary of teachers increase by 20% then?

ANone of these

Bfewer students will attend university

CFewer students will take degree courses in education and more will take accounting courses.

Correct answer

C. Fewer students will take degree courses in education and more will take accounting courses.

Explanation

The correct answer is Fewer students will take degree courses in education and more will take accounting courses..

1798EconomicsMedium

The smallest group is constituted by the________?

Aquadrad

Bmonad

Cdyad

Dtriad

Correct answer

C. dyad

Explanation

The correct answer is dyad.

1799EconomicsMedium

Emotional stress and maladjustment may occur as a result of________?

Aall of the above

Bstatus inconsistency

Cfaulty role performance

Dimproperly learned roles

Correct answer

A. all of the above

Explanation

The correct answer is all of the above.

1800EconomicsMedium

The “New Class” is characterized as consisting of________?

Aformer members of the middle class

Bthe working poor

Capolitical bureaucrats

Dprofessionals with skills important in the information society

Correct answer

D. professionals with skills important in the information society

Explanation

The correct answer is professionals with skills important in the information society.

The implementation of the European Union has?

Amade it easier for Americans to compete against the Japanese in the British

Bmade it easier for Americans to compete against the Germans in the British market

Cmade it harder for Americans to compete against the Japanese in the British market

Dmade it harder for Americans of compete against the Germans in the British market

Correct answer

D. made it harder for Americans of compete against the Germans in the British market

Explanation

The correct answer is made it harder for Americans of compete against the Germans in the British market.

New classical theories were an attempt to explain?

AThe increase in the growth rate of real output in the 1950s

Bhow unemployment could have persisted for so long during the Great Depression

CWhy policy changes that are perceived as permanent have more of an impact on a person’s behaviour than policy changes that are viewed as temporary.

Dthe stagflation of the 1970s

Correct answer

D. the stagflation of the 1970s

Explanation

The correct answer is the stagflation of the 1970s.

Regarding capitalist industrial societies Marx asserted that________?

Athey contained the seeds of their own destruction

Bproperty is unimportant in the modern state

Cthe means of production are controlled by the masses

Dreligion and philosophy are the foundations of society

Correct answer

A. they contained the seeds of their own destruction

Explanation

The correct answer is they contained the seeds of their own destruction.

-7-+47-+45-+-+Since people respond to incentives, we would expect that if the average salary of accountants increases by 50% while the average salary of teachers increase by 20% then?

ANone of these

Bfewer students will attend university

CFewer students will take degree courses in education and more will take accounting courses.

Correct answer

C. Fewer students will take degree courses in education and more will take accounting courses.

Explanation

The correct answer is Fewer students will take degree courses in education and more will take accounting courses..

The “New Class” is characterized as consisting of________?

Aformer members of the middle class

Bthe working poor

Capolitical bureaucrats

Dprofessionals with skills important in the information society

Correct answer

D. professionals with skills important in the information society

Explanation

The correct answer is professionals with skills important in the information society.