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Economics MCQs with Explanations

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2301EconomicsMedium

The sacrifice involved when you choose a particular course of action is called the?

AAlternative

BProducer cost

CConsumer cost

DOpportunity cost

Correct answer

D. Opportunity cost

Explanation

The correct answer is Opportunity cost.

2302EconomicsMedium

Malthus’s theory was that population?

Aincreased geometrically, outstripping food supply which grew arithmetically

Bincreased proportionally to economic growth

Cincreased disproportionately surpassing agricultural production

Dincreased stagnantly with food supply and economic development

Correct answer

A. increased geometrically, outstripping food supply which grew arithmetically

Explanation

The correct answer is increased geometrically, outstripping food supply which grew arithmetically.

2303EconomicsMedium

Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide?

Aoverwhelming support for the deterioration hypothesis

Boverwhelming opposition to the deterioration hypothesis

CNone of the above

Dmixed evidence that does not substantiate the deterioration hypothesis

Correct answer

D. mixed evidence that does not substantiate the deterioration hypothesis

Explanation

The correct answer is mixed evidence that does not substantiate the deterioration hypothesis.

2304EconomicsMedium

Economics deals with________?

Aproduction of goods and services

Ball of the above

Cdistribution of goods and services

Dconsumption of goods and services

Correct answer

B. all of the above

Explanation

The correct answer is all of the above.

2305EconomicsMedium

Surveys of American voters reveal________?

Aa general cynicism about government

Ba general support of the government

Cfull support of democratic principles

Dthe majority of people and political leaders are equally committed to democratic values

Correct answer

A. a general cynicism about government

Explanation

The correct answer is a general cynicism about government.

2306EconomicsMedium

Both fiscal and monetary policies focus on________?

Athe supply side of the market

Bthe global market

Cboth sides of the market

Dthe demand side of the market

Correct answer

D. the demand side of the market

Explanation

The correct answer is the demand side of the market.

2307EconomicsMedium

A straight-line diagram can be drawn knowing the and ?

Aintercept and scale

Bintercept and slope

Cscale and slope

Dvertical axis and horizontal axis

Correct answer

C. scale and slope

Explanation

The correct answer is scale and slope.

2308EconomicsMedium

Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about?

A$145

B$25

C$100

D$40,000

Correct answer

B. $25

Explanation

The correct answer is $25.

2309EconomicsMedium

World overpopulation could be prevented by________?

Anatural change

Bthe elimination of the demographic transition

Czero population growth worldwide

Da return to preindustrial medicine

Correct answer

C. zero population growth worldwide

Explanation

The correct answer is zero population growth worldwide.

2310EconomicsMedium

Dual economies are countries?

Awith a modern manufacturing sector as well as traditional agriculture sector

Bwith foreign owned and domestically owned capital

Cwith double capital and labor/

Dthat specialize in labor intensive products more than capital intensive products

Correct answer

A. with a modern manufacturing sector as well as traditional agriculture sector

Explanation

The correct answer is with a modern manufacturing sector as well as traditional agriculture sector.

Malthus’s theory was that population?

Aincreased geometrically, outstripping food supply which grew arithmetically

Bincreased proportionally to economic growth

Cincreased disproportionately surpassing agricultural production

Dincreased stagnantly with food supply and economic development

Correct answer

A. increased geometrically, outstripping food supply which grew arithmetically

Explanation

The correct answer is increased geometrically, outstripping food supply which grew arithmetically.

Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide?

Aoverwhelming support for the deterioration hypothesis

Boverwhelming opposition to the deterioration hypothesis

CNone of the above

Dmixed evidence that does not substantiate the deterioration hypothesis

Correct answer

D. mixed evidence that does not substantiate the deterioration hypothesis

Explanation

The correct answer is mixed evidence that does not substantiate the deterioration hypothesis.

Surveys of American voters reveal________?

Aa general cynicism about government

Ba general support of the government

Cfull support of democratic principles

Dthe majority of people and political leaders are equally committed to democratic values

Correct answer

A. a general cynicism about government

Explanation

The correct answer is a general cynicism about government.

Dual economies are countries?

Awith a modern manufacturing sector as well as traditional agriculture sector

Bwith foreign owned and domestically owned capital

Cwith double capital and labor/

Dthat specialize in labor intensive products more than capital intensive products

Correct answer

A. with a modern manufacturing sector as well as traditional agriculture sector

Explanation

The correct answer is with a modern manufacturing sector as well as traditional agriculture sector.

Economics MCQs with Explanations

The sacrifice involved when you choose a particular course of action is called the?

Malthus’s theory was that population?

Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide?

Economics deals with________?

Surveys of American voters reveal________?

Both fiscal and monetary policies focus on________?

A straight-line diagram can be drawn knowing the ________ and ________?

Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about?

World overpopulation could be prevented by________?

Dual economies are countries?

Economics MCQs with Explanations

The sacrifice involved when you choose a particular course of action is called the?

Malthus’s theory was that population?

Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide?

Economics deals with________?

Surveys of American voters reveal________?

Both fiscal and monetary policies focus on________?

A straight-line diagram can be drawn knowing the ________ and ________?

Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about?

World overpopulation could be prevented by________?

Dual economies are countries?

A straight-line diagram can be drawn knowing the and ?

A straight-line diagram can be drawn knowing the and ?