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Economics MCQs with Explanations

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221EconomicsMedium

Total withdrawals from the circular flow of income include?

Asavings government expenditure and imports

Bconsumption savings and taxes

Csavings taxes and imports

Dsavings taxes and exports

Correct answer

C. savings taxes and imports

Explanation

The correct answer is savings taxes and imports.

222EconomicsMedium

Deepak Lal argues that development economics is dominated by ________ approach that favors government intervention into LDC prices?

ACommanding heights

Bsoft budget

CKeynesian

Ddirigiste

Correct answer

D. dirigiste

Explanation

The correct answer is dirigiste.

223EconomicsMedium

Which of the following is not an example of a global public good?

Ahigh-yielding varieties (HYVs) of grains

Bthe campaign against river blindness

Cthe drilling of oil in the Arctic

DPolio and small-pox vaccinations.

Correct answer

D. Polio and small-pox vaccinations.

Explanation

The correct answer is Polio and small-pox vaccinations..

224EconomicsMedium

With fixed exchange rates and no private currency flows, when the central bank buys domestic currency the domestic money supply is?

Aunaffected

BNone of these

Creduced

Dincreased

Correct answer

C. reduced

Explanation

The correct answer is reduced.

225EconomicsMedium

Concerning a government’s trade policy, all the following generally apply except?

Abecause domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:

BWhen domestic exporting companies are organized, policy tends to favor freer trade

Ceconomic downturn and recession generally result in greater protectionism

DPolicy tends to favor freer trade in countries whose imports are inputs into critical industries

Correct answer

A. because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:

Explanation

The correct answer is because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:.

226EconomicsMedium

A ________ allows a specified number of goods to be imported each year, and it not specifies from where the product is shipped and who is permitted to import?

Aglobal quota

Bselective quota

Cexport quota

Dimport quota

Correct answer

B. selective quota

Explanation

The correct answer is selective quota.

227EconomicsMedium

The “real revolution” of the last twenty years according to one sociologist refers to________?

Athe jailing of spouse abusers and marital rapists

Bwomen,s lack of interest in marriage

Cmale bonding and tribalism

D“serial” or “throwaway” marriages

Correct answer

B. women,s lack of interest in marriage

Explanation

The correct answer is women,s lack of interest in marriage.

228EconomicsMedium

Persons interested in saving the whales could be considered a (n)________?

Anone of these

Bpublic

Cacting crowd

Dcasual crowd

Correct answer

B. public

Explanation

The correct answer is public.

229EconomicsMedium

In a competitive market, which of the following is least, likely to be the source of a persistent discriminatory wage differential?

Athe customer

BAll of these answers could be source of a persistent discriminatory wage differential

Cthe government

Dthe employer

Correct answer

D. the employer

Explanation

The correct answer is the employer.

230EconomicsMedium

Demographers believe that________?

Athe demographic transition represents a general pattern

Bthe underdeveloped nations must increase their birthrate

Cpopulation grows in inverse proportion to food production

DWestern societies are doomed to extinction

Correct answer

A. the demographic transition represents a general pattern

Explanation

The correct answer is the demographic transition represents a general pattern.

Concerning a government’s trade policy, all the following generally apply except?

Abecause domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:

BWhen domestic exporting companies are organized, policy tends to favor freer trade

Ceconomic downturn and recession generally result in greater protectionism

DPolicy tends to favor freer trade in countries whose imports are inputs into critical industries

Correct answer

A. because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:

Explanation

The correct answer is because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:.

Demographers believe that________?

Athe demographic transition represents a general pattern

Bthe underdeveloped nations must increase their birthrate

Cpopulation grows in inverse proportion to food production

DWestern societies are doomed to extinction

Correct answer

A. the demographic transition represents a general pattern

Explanation

The correct answer is the demographic transition represents a general pattern.