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Economics MCQs with Explanations

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3211EconomicsMedium

No- fault divorce has________?

Aincreased both alimony and child support awards for the first few year after divorce

Bincreased child support requirements

Call but eliminated alimony and somewhat decreased the average child support award

Dleft alimony awards intact

Correct answer

C. all but eliminated alimony and somewhat decreased the average child support award

Explanation

The correct answer is all but eliminated alimony and somewhat decreased the average child support award.

3212EconomicsMedium

Collective behavior is________?

Aemergent

Balienating

Cnonroutine

Dconvergent

Correct answer

C. nonroutine

Explanation

The correct answer is nonroutine.

3213EconomicsMedium

A current account deficit means that a country may?

Aincreases its foreign currency reserves

Breduce its stock of foreign assets

Cincrease its stock of foreign assets

Dincreases its savings

Correct answer

B. reduce its stock of foreign assets

Explanation

The correct answer is reduce its stock of foreign assets.

3214EconomicsMedium

When a predominantly foreign government is overthrown the revolution is called________?

Aalternative

Bnationalistic

Cfascist

Dclass

Correct answer

B. nationalistic

Explanation

The correct answer is nationalistic.

3215EconomicsMedium

The crude birthrate is the________?

Athe same as the fecundity rate

Bnumber of births per thousand people per year

Cthe same as the fertility rate

Dnumber of births a year in the world

Correct answer

B. number of births per thousand people per year

Explanation

The correct answer is number of births per thousand people per year.

3216EconomicsMedium

As resources are shifted from one industry to another this can be shown by?

AAn outward shift of the production possibility frontier

BThe pivoting of the production possibility frontier

CAn inward shift of the production possibility frontier

DA movement along the production possibility frontier

Correct answer

D. A movement along the production possibility frontier

Explanation

The correct answer is A movement along the production possibility frontier.

3217EconomicsMedium

Williamson suggests that managers might NOT try to achieve?

Ajob security

Ba large number of subordinates

Crespect of other managers.

Dmaximum profits.

Correct answer

D. maximum profits.

Explanation

The correct answer is maximum profits..

3218EconomicsMedium

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is the price equals and profits total ?

A2 million barrels per day, $100, $60 million

B6 million barrels per day, $60, $60 million

C8 million barrels per day, $40, $20 million

D4 million barrels per day, $80, $160 million

Correct answer

D. 4 million barrels per day, $80, $160 million

Explanation

The correct answer is 4 million barrels per day, $80, $160 million.

3219EconomicsMedium

A model of Game theory of oligopoly is known as the?

AJailhouses Sentences

BMonopoly Cell

CPrisoner’s Dilemma

DJury Box

Correct answer

C. Prisoner’s Dilemma

Explanation

The correct answer is Prisoner’s Dilemma.

3220EconomicsMedium

Communism has a history of attracting Third World nations because of the fact that________?

Ait promises to give more power to the masses

Bthe ideology changes to suit conditions

Cthe ideology is static

Dit has not led to dictatorship

Correct answer

A. it promises to give more power to the masses

Explanation

The correct answer is it promises to give more power to the masses.

No- fault divorce has________?

Aincreased both alimony and child support awards for the first few year after divorce

Bincreased child support requirements

Call but eliminated alimony and somewhat decreased the average child support award

Dleft alimony awards intact

Correct answer

C. all but eliminated alimony and somewhat decreased the average child support award

Explanation

The correct answer is all but eliminated alimony and somewhat decreased the average child support award.

As resources are shifted from one industry to another this can be shown by?

AAn outward shift of the production possibility frontier

BThe pivoting of the production possibility frontier

CAn inward shift of the production possibility frontier

DA movement along the production possibility frontier

Correct answer

D. A movement along the production possibility frontier

Explanation

The correct answer is A movement along the production possibility frontier.

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ________ the price equals ________ and profits total ________?

A2 million barrels per day, $100, $60 million

B6 million barrels per day, $60, $60 million

C8 million barrels per day, $40, $20 million

D4 million barrels per day, $80, $160 million

Correct answer

D. 4 million barrels per day, $80, $160 million

Explanation

The correct answer is 4 million barrels per day, $80, $160 million.