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Economics MCQs with Explanations

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3481EconomicsMedium

Firms are assumed to costs and to profits?

Apay, make

Bminimize, maximize

Ccharge earns

Dincur, desire

Correct answer

B. minimize, maximize

Explanation

The correct answer is minimize, maximize.

3482EconomicsMedium

The reduction of tax?

Awill always reduce tax revenue regardless of the prior size of the tax

Bcauses a market to become less efficient

Ccould increase tax revenue if the tax had been extremely high

Dwill have no impact on tax revenue.

Correct answer

C. could increase tax revenue if the tax had been extremely high

Explanation

The correct answer is could increase tax revenue if the tax had been extremely high.

3483EconomicsMedium

Collective behavior is often precipitated by________?

Aanomaly

Bfear of the future

Crapid social change

Ddeviant behavior

Correct answer

C. rapid social change

Explanation

The correct answer is rapid social change.

3484EconomicsMedium

American military policy has been built on________?

Avery large number of troops

Ba spirit of peace in the world

Cassured destruction capability

Dtrust in U.S allies

Correct answer

C. assured destruction capability

Explanation

The correct answer is assured destruction capability.

3485EconomicsMedium

One of the most common problems with using internal database information is that?

Ait is usually expensive to retrieve

Btop executives are usually unwilling to relinquish data therefore the data has limits

Cthe data is almost always unsecured and therefore, suspect as to reliability

Dsince it was probably collected for some other purpose it may be incomplete or wrong

Correct answer

D. since it was probably collected for some other purpose it may be incomplete or wrong

Explanation

The correct answer is since it was probably collected for some other purpose it may be incomplete or wrong.

3486EconomicsMedium

Personality must be considered as________?

Amore a function of heredity than anything else

Brole demands

Cinterplay between environment and learned behavior

Da result of biology alone

Correct answer

C. interplay between environment and learned behavior

Explanation

The correct answer is interplay between environment and learned behavior.

3487EconomicsMedium

Material objects found in nature are called________?

Aland

Blabor

Ccapital

Dtime

Correct answer

A. land

Explanation

The correct answer is land.

3488EconomicsMedium

There is an arrangement which allows a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research. What this arrangement is called?

AMutual arrangement

Bcommon interest

CBilateral arrangement

DQuid Pro quo

Correct answer

D. Quid Pro quo

Explanation

The correct answer is Quid Pro quo.

3489EconomicsMedium

Which of the following is Cottage Industry?

ASugar

BTextile

CCement

DHandicraft

Correct answer

D. Handicraft

Explanation

The correct answer is Handicraft.

3490EconomicsMedium

It is true that________?

Ainstitutions are groups of people

Bformal organizations are based on groups of people

Cinstitutions are voluntary

Dformal organizations are the same as institution

Correct answer

B. formal organizations are based on groups of people

Explanation

The correct answer is formal organizations are based on groups of people.

The reduction of tax?

Awill always reduce tax revenue regardless of the prior size of the tax

Bcauses a market to become less efficient

Ccould increase tax revenue if the tax had been extremely high

Dwill have no impact on tax revenue.

Correct answer

C. could increase tax revenue if the tax had been extremely high

Explanation

The correct answer is could increase tax revenue if the tax had been extremely high.

One of the most common problems with using internal database information is that?

Ait is usually expensive to retrieve

Btop executives are usually unwilling to relinquish data therefore the data has limits

Cthe data is almost always unsecured and therefore, suspect as to reliability

Dsince it was probably collected for some other purpose it may be incomplete or wrong

Correct answer

D. since it was probably collected for some other purpose it may be incomplete or wrong

Explanation

The correct answer is since it was probably collected for some other purpose it may be incomplete or wrong.

It is true that________?

Ainstitutions are groups of people

Bformal organizations are based on groups of people

Cinstitutions are voluntary

Dformal organizations are the same as institution

Correct answer

B. formal organizations are based on groups of people

Explanation

The correct answer is formal organizations are based on groups of people.

Economics MCQs with Explanations

Firms are assumed to ________ costs and to ________ profits?

The reduction of tax?

Collective behavior is often precipitated by________?

American military policy has been built on________?

One of the most common problems with using internal database information is that?

Personality must be considered as________?

Material objects found in nature are called________?

There is an arrangement which allows a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research. What this arrangement is called?

Which of the following is Cottage Industry?

It is true that________?

Economics MCQs with Explanations

Firms are assumed to ________ costs and to ________ profits?

The reduction of tax?

Collective behavior is often precipitated by________?

American military policy has been built on________?

One of the most common problems with using internal database information is that?

Personality must be considered as________?

Material objects found in nature are called________?

There is an arrangement which allows a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research. What this arrangement is called?

Which of the following is Cottage Industry?

It is true that________?

Firms are assumed to costs and to profits?

Firms are assumed to costs and to profits?