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Economics MCQs with Explanations

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2601EconomicsMedium

The goal of integrated pest management (IPT) is to?

Aundertake monoculture pest planning

Bhave year-round plantings of a single crop

Cencompass biological control through fertilizers

Dreduce yield losses by pests while minimizing the negative effects of pest control

Correct answer

D. reduce yield losses by pests while minimizing the negative effects of pest control

Explanation

The correct answer is reduce yield losses by pests while minimizing the negative effects of pest control.

2602EconomicsMedium

The equilibrium level of aggregate output is determined in?

Athe money and labor market

Bthe goods market

Cthe money markets

Dthe goods and labor markets.

Correct answer

B. the goods market

Explanation

The correct answer is the goods market.

2603EconomicsMedium

If the GNP increases by 8% and prices increase by 3% the actual growth rate is________?

A3%

B11%

C8%

D5%

Correct answer

D. 5%

Explanation

The correct answer is 5%.

2604EconomicsMedium

A nation wishing to reduce its current account deficit would be advised to?

Adecrease domestic consumption

Bincreases private investment spending

Creduce government taxes

Dengage in more government spending

Correct answer

A. decrease domestic consumption

Explanation

The correct answer is decrease domestic consumption.

2605EconomicsMedium

Tariff levels in advanced countries tend to be ________ tariff levels in developing countries?

Aequal to

Bthere is no general pattern

Clower than

Dhigher than

Correct answer

C. lower than

Explanation

The correct answer is lower than.

2606EconomicsMedium

“The largest group of people inhabiting a specific territory and sharing a common culture”is a definition of a________?

Astate

Bgovernment

Cnation

Dsociety

Correct answer

D. society

Explanation

The correct answer is society.

2607EconomicsMedium

Which of the following programs are particularly dependent upon state resources?

APublic education

BThe Social Security system

CPublic housing

DCorporate growth

Correct answer

A. Public education

Explanation

The correct answer is Public education.

2608EconomicsMedium

The low birthrate in the United States is related to________?

Aincrease of women in work force

Bable nutrition

Cincreased drug use

Dnone of the above

Correct answer

A. increase of women in work force

Explanation

The correct answer is increase of women in work force.

2609EconomicsMedium

If people are risk averse, then?

AThe utility they would lose from losing a Rs50 bet would exceed the utility they would gain from winning a Rs 50 bet

BThey dislike bad things more than the like comparable good things

CNone of these answers are true

DAll of these answers are true

Correct answer

D. All of these answers are true

Explanation

The correct answer is All of these answers are true.

2610EconomicsMedium

The golden-rule saving rate is the rate of saving that?

Amaximizes the level of long-run investment

Bgets the highest rate of interest

Cmaximizes the level of long-run consumption

Dmaximizes human capital

Correct answer

C. maximizes the level of long-run consumption

Explanation

The correct answer is maximizes the level of long-run consumption.

The goal of integrated pest management (IPT) is to?

Aundertake monoculture pest planning

Bhave year-round plantings of a single crop

Cencompass biological control through fertilizers

Dreduce yield losses by pests while minimizing the negative effects of pest control

Correct answer

D. reduce yield losses by pests while minimizing the negative effects of pest control

Explanation

The correct answer is reduce yield losses by pests while minimizing the negative effects of pest control.

If people are risk averse, then?

AThe utility they would lose from losing a Rs50 bet would exceed the utility they would gain from winning a Rs 50 bet

BThey dislike bad things more than the like comparable good things

CNone of these answers are true

DAll of these answers are true

Correct answer

D. All of these answers are true

Explanation

The correct answer is All of these answers are true.