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Economics MCQs with Explanations

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3381EconomicsMedium

Concerning dumping, which of the following is true?

Apredatory dumping represents the most common form of dumping by U.S firms

BU.S firms rarely if ever, engage in distress dumping or persistent dumping

CU.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare

Ddumping can never be a profit-maximizing strategy for U.S firms to pursue

Correct answer

C. U.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare

Explanation

The correct answer is U.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare.

3382EconomicsMedium

Two or more nuclear families of parent(s) and children is known as?

Ainstitutional family

Bdual family

Cextended family

Dtwo-tier family tree

Correct answer

C. extended family

Explanation

The correct answer is extended family.

3383EconomicsMedium

Schizophrenia is________?

Aapplied to a number of disturbances for lack of any other label

Ba term meaning “to hallucinate”

Canother name for split personality

Da psychosomatic disorder

Correct answer

A. applied to a number of disturbances for lack of any other label

Explanation

The correct answer is applied to a number of disturbances for lack of any other label.

3384EconomicsMedium

An increase in price all other things unchanged leads to?

AAn extension of supply

BA contraction of supply

CA shift in supply inwards

DA shift in supply outwards

Correct answer

A. An extension of supply

Explanation

The correct answer is An extension of supply.

3385EconomicsMedium

A decrease in the supply of labour is likely to lead to?

AA higher equilibrium wage and lower quantity of labour

BA lower equilibrium wage and higher quantity of labour

CA higher equilibrium wage and higher quantity of labour

DA lower equilibrium wage and lower quantity of labour

Correct answer

A. A higher equilibrium wage and lower quantity of labour

Explanation

The correct answer is A higher equilibrium wage and lower quantity of labour.

3386EconomicsMedium

In autarky equilibrium?

AExports equal imports

BAll of the above

Cthere is no trade

DProduction equals consumption

Correct answer

B. All of the above

Explanation

The correct answer is All of the above.

3387EconomicsMedium

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of while presidential governments manipulate the timing of ?

Aelections; economics policies

Bmonetary policy, fiscal policy

Ceconomic policies; political policies

Dtax collection, tax implementation

Correct answer

A. elections; economics policies

Explanation

The correct answer is elections; economics policies.

3388EconomicsMedium

As an economy grows?

AThis will have no effect on the government’s budget position

BThe government’s budget position should automatically improve

CThis will reduce the government’s tax revenue

DThe government’s budget position should automatically worsen

Correct answer

D. The government’s budget position should automatically worsen

Explanation

The correct answer is The government’s budget position should automatically worsen.

3389EconomicsMedium

Under adjustable pegged exchange rates, if the rate of inflation in the United States exceeds the rate of inflation of its trading partners?

AU.S imports tend to rise, and exports tend to fall

BU.S foreign exchange reserves remain constant

CU.S foreign exchange reserves tend to rise

DU.S exports tend to rise, and imports tend to fall

Correct answer

A. U.S imports tend to rise, and exports tend to fall

Explanation

The correct answer is U.S imports tend to rise, and exports tend to fall.

3390EconomicsMedium

An evaluation of an individual’s or company’s ability to obligations or its likelihood of not defaulting is known as?

ACredit risk

BCredibility

CCredit credibility

DCredit rating

Correct answer

A. Credit risk

Explanation

The correct answer is Credit risk.

Concerning dumping, which of the following is true?

Apredatory dumping represents the most common form of dumping by U.S firms

BU.S firms rarely if ever, engage in distress dumping or persistent dumping

CU.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare

Ddumping can never be a profit-maximizing strategy for U.S firms to pursue

Correct answer

C. U.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare

Explanation

The correct answer is U.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare.

Schizophrenia is________?

Aapplied to a number of disturbances for lack of any other label

Ba term meaning “to hallucinate”

Canother name for split personality

Da psychosomatic disorder

Correct answer

A. applied to a number of disturbances for lack of any other label

Explanation

The correct answer is applied to a number of disturbances for lack of any other label.

A decrease in the supply of labour is likely to lead to?

AA higher equilibrium wage and lower quantity of labour

BA lower equilibrium wage and higher quantity of labour

CA higher equilibrium wage and higher quantity of labour

DA lower equilibrium wage and lower quantity of labour

Correct answer

A. A higher equilibrium wage and lower quantity of labour

Explanation

The correct answer is A higher equilibrium wage and lower quantity of labour.

As an economy grows?

AThis will have no effect on the government’s budget position

BThe government’s budget position should automatically improve

CThis will reduce the government’s tax revenue

DThe government’s budget position should automatically worsen

Correct answer

D. The government’s budget position should automatically worsen

Explanation

The correct answer is The government’s budget position should automatically worsen.

Under adjustable pegged exchange rates, if the rate of inflation in the United States exceeds the rate of inflation of its trading partners?

AU.S imports tend to rise, and exports tend to fall

BU.S foreign exchange reserves remain constant

CU.S foreign exchange reserves tend to rise

DU.S exports tend to rise, and imports tend to fall

Correct answer

A. U.S imports tend to rise, and exports tend to fall

Explanation

The correct answer is U.S imports tend to rise, and exports tend to fall.

Economics MCQs with Explanations

Concerning dumping, which of the following is true?

Two or more nuclear families of parent(s) and children is known as?

Schizophrenia is________?

An increase in price all other things unchanged leads to?

A decrease in the supply of labour is likely to lead to?

In autarky equilibrium?

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of ________ while presidential governments manipulate the timing of ________?

As an economy grows?

Under adjustable pegged exchange rates, if the rate of inflation in the United States exceeds the rate of inflation of its trading partners?

An evaluation of an individual’s or company’s ability to obligations or its likelihood of not defaulting is known as?

Economics MCQs with Explanations

Concerning dumping, which of the following is true?

Two or more nuclear families of parent(s) and children is known as?

Schizophrenia is________?

An increase in price all other things unchanged leads to?

A decrease in the supply of labour is likely to lead to?

In autarky equilibrium?

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of ________ while presidential governments manipulate the timing of ________?

As an economy grows?

Under adjustable pegged exchange rates, if the rate of inflation in the United States exceeds the rate of inflation of its trading partners?

An evaluation of an individual’s or company’s ability to obligations or its likelihood of not defaulting is known as?

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of while presidential governments manipulate the timing of ?

Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of while presidential governments manipulate the timing of ?