MCQs

Economics MCQs with Explanations

Read every question, see the correct answer, and understand the explanation at your own pace. Study mode has no timer and no negative marking.

83%

3,740 of 4,520MCQs reviewed

Study Mode — explanations are always visiblePrefer a timed quiz? Start test

3741EconomicsMedium

With which of the following items is Kimberley associated?

ACereals

BSilver

CPerfumes

DDiamonds

Correct answer

D. Diamonds

Explanation

The correct answer is Diamonds.

3742EconomicsMedium

The basic components of the state include ALL BUT WHICH of the following?

APopulation

BTerritory

CArmed services

DSovereignty

Correct answer

C. Armed services

Explanation

The correct answer is Armed services.

3743EconomicsMedium

What is the total population of Nauru?

A1800

B1950

C2510

D1900

Correct answer

D. 1900

Explanation

The correct answer is 1900.

3744EconomicsMedium

In today’s world, most countries impose tariffs?

Aonly on exports

Bon imports exports and nontraded goods

Con both imports and exports

Donly on imports

Correct answer

D. only on imports

Explanation

The correct answer is only on imports.

3745EconomicsMedium

Which term is used for a bank account which can be operated at will?

AFixed account

BCurrent account

CFluctuated account

DSaving Account

Correct answer

B. Current account

Explanation

The correct answer is Current account.

3746EconomicsMedium

The largest number of statistical areas in the United States are________?

AMSAs

BCBSAs

CCMSAs

DSMSAs

Correct answer

C. CMSAs

Explanation

The correct answer is CMSAs.

3747EconomicsMedium

According to the Phillips curve, in the short run, if policy makers choose an expansionary policy to lower the rate of unemployment?

ANone of these answers

BInflation will be unaffected if price expectations are unchanging

CThe economy will experience a decrease in inflation

DThe economy will experience an increase in inflation

Correct answer

D. The economy will experience an increase in inflation

Explanation

The correct answer is The economy will experience an increase in inflation.

3748EconomicsMedium

What were the goals of the Constitutional Convention?

ATo diminish the power of a strong central government

BTo insure the power of the small farmers

CTo form a government that would serve the interests of all groups in the society

DTo preserve the status quo

Correct answer

C. To form a government that would serve the interests of all groups in the society

Explanation

The correct answer is To form a government that would serve the interests of all groups in the society.

3749EconomicsMedium

Keynesians and monetarists differ over how steep the IS and LM curves actually are Monetarists claim that the IS curve must be and the LM curve must be ?

Asteep; steep

Bflat; flat

Csteep; flat

Dflat; steep

Correct answer

D. flat; steep

Explanation

The correct answer is flat; steep.

3750EconomicsMedium

A common resource is?

Aboth rival and excludable

Bnot rival but excludable

Crival but not excludable

Dneither rival nor excludable

Correct answer

C. rival but not excludable

Explanation

The correct answer is rival but not excludable.

According to the Phillips curve, in the short run, if policy makers choose an expansionary policy to lower the rate of unemployment?

ANone of these answers

BInflation will be unaffected if price expectations are unchanging

CThe economy will experience a decrease in inflation

DThe economy will experience an increase in inflation

Correct answer

D. The economy will experience an increase in inflation

Explanation

The correct answer is The economy will experience an increase in inflation.

What were the goals of the Constitutional Convention?

ATo diminish the power of a strong central government

BTo insure the power of the small farmers

CTo form a government that would serve the interests of all groups in the society

DTo preserve the status quo

Correct answer

C. To form a government that would serve the interests of all groups in the society

Explanation

The correct answer is To form a government that would serve the interests of all groups in the society.

Economics MCQs with Explanations

With which of the following items is Kimberley associated?

The basic components of the state include ALL BUT WHICH of the following?

What is the total population of Nauru?

In today’s world, most countries impose tariffs?

Which term is used for a bank account which can be operated at will?

The largest number of statistical areas in the United States are________?

According to the Phillips curve, in the short run, if policy makers choose an expansionary policy to lower the rate of unemployment?

What were the goals of the Constitutional Convention?

Keynesians and monetarists differ over how steep the IS and LM curves actually are Monetarists claim that the IS curve must be ________ and the LM curve must be ________?

A common resource is?

Economics MCQs with Explanations

With which of the following items is Kimberley associated?

The basic components of the state include ALL BUT WHICH of the following?

What is the total population of Nauru?

In today’s world, most countries impose tariffs?

Which term is used for a bank account which can be operated at will?

The largest number of statistical areas in the United States are________?

According to the Phillips curve, in the short run, if policy makers choose an expansionary policy to lower the rate of unemployment?

What were the goals of the Constitutional Convention?

Keynesians and monetarists differ over how steep the IS and LM curves actually are Monetarists claim that the IS curve must be ________ and the LM curve must be ________?

A common resource is?

Keynesians and monetarists differ over how steep the IS and LM curves actually are Monetarists claim that the IS curve must be and the LM curve must be ?

Keynesians and monetarists differ over how steep the IS and LM curves actually are Monetarists claim that the IS curve must be and the LM curve must be ?