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Economics MCQs with Explanations

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3781EconomicsMedium

Gunnar Myrdal argues that a major barrier to high labor productivity is?

Aa class system in which the elite are contemptuous of manual work

BThe lack of bargaining power y cheap labor

Cupper-and middle-class westerners

Ddue to a lack of education

Correct answer

A. a class system in which the elite are contemptuous of manual work

Explanation

The correct answer is a class system in which the elite are contemptuous of manual work.

3782EconomicsMedium

What percentage of American business revenues do corporation represent?

A80%

B60%

C70%

Correct answer

C. 70%

Explanation

The correct answer is 70%.

3783EconomicsMedium

A theory?

AI only

BIV only

CI, II and III only

DI and II only

Correct answer

C. I, II and III only

Explanation

The correct answer is I, II and III only.

3784EconomicsMedium

________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics or behavior who might require separate products or marketing mixes?

AMarket targeting

BMarket positioning

CMarket segmentation

DProduct differentiation

Correct answer

C. Market segmentation

Explanation

The correct answer is Market segmentation.

3785EconomicsMedium

Marginal revenue is the when output is ?

AChange in average revenue, increased

Bchange in average revenue, increased by one unit

CChange in total revenue, increase by one unit

Dchange in total revenue increased

Correct answer

C. Change in total revenue, increase by one unit

Explanation

The correct answer is Change in total revenue, increase by one unit.

3786EconomicsMedium

Compared to what occurred under free trade, Mexico’s producer surplus and consumer surplus as a result of the subsidy Use the figure that you have plotted to calculate the amounts?

Adecreases, increases

Bincreases, increases

Cdecreases, decreases

Dincreases, decreases

Correct answer

A. decreases, increases

Explanation

The correct answer is decreases, increases.

3787EconomicsMedium

The term “Dumping” means?

ASale in a foreign market of a commodity at a price below marginal cost

BSale in a foreign market of a commodity just at marginal cost without too much of profit

CSmuggling of goods without paying any customs duty

DThe sale of the sub-standard commodity

Correct answer

A. Sale in a foreign market of a commodity at a price below marginal cost

Explanation

The correct answer is Sale in a foreign market of a commodity at a price below marginal cost.

3788EconomicsMedium

The annual growth rate of edible oil is?

A10%

B15%

C9%

D7%

Correct answer

A. 10%

Explanation

The correct answer is 10%.

3789EconomicsMedium

A deliberate attempt to persuade the individual to accept a particular belief or to make a specific choice uncritically is________?

Aeducation

Binstruction

Cpropaganda

Dbrainwashing

Correct answer

C. propaganda

Explanation

The correct answer is propaganda.

3790EconomicsMedium

Economics is the study of?

Ahow to reduce our wants until we are satisfied.

Bhow to avoid having to make trade-offs

Chow society manages its unlimited resource

Dhow to fully satisfy our unlimited wants

Correct answer

A. how to reduce our wants until we are satisfied.

Explanation

The correct answer is how to reduce our wants until we are satisfied..

Gunnar Myrdal argues that a major barrier to high labor productivity is?

Aa class system in which the elite are contemptuous of manual work

BThe lack of bargaining power y cheap labor

Cupper-and middle-class westerners

Ddue to a lack of education

Correct answer

A. a class system in which the elite are contemptuous of manual work

Explanation

The correct answer is a class system in which the elite are contemptuous of manual work.

Marginal revenue is the ________ when output is ________?

AChange in average revenue, increased

Bchange in average revenue, increased by one unit

CChange in total revenue, increase by one unit

Dchange in total revenue increased

Correct answer

C. Change in total revenue, increase by one unit

Explanation

The correct answer is Change in total revenue, increase by one unit.

The term “Dumping” means?

ASale in a foreign market of a commodity at a price below marginal cost

BSale in a foreign market of a commodity just at marginal cost without too much of profit

CSmuggling of goods without paying any customs duty

DThe sale of the sub-standard commodity

Correct answer

A. Sale in a foreign market of a commodity at a price below marginal cost

Explanation

The correct answer is Sale in a foreign market of a commodity at a price below marginal cost.

Economics is the study of?

Ahow to reduce our wants until we are satisfied.

Bhow to avoid having to make trade-offs

Chow society manages its unlimited resource

Dhow to fully satisfy our unlimited wants

Correct answer

A. how to reduce our wants until we are satisfied.

Explanation

The correct answer is how to reduce our wants until we are satisfied..

Economics MCQs with Explanations

Gunnar Myrdal argues that a major barrier to high labor productivity is?

What percentage of American business revenues do corporation represent?

A theory?

________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics or behavior who might require separate products or marketing mixes?

Marginal revenue is the ________ when output is ________?

Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts?

The term “Dumping” means?

The annual growth rate of edible oil is?

A deliberate attempt to persuade the individual to accept a particular belief or to make a specific choice uncritically is________?

Economics is the study of?

Economics MCQs with Explanations

Gunnar Myrdal argues that a major barrier to high labor productivity is?

What percentage of American business revenues do corporation represent?

A theory?

________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics or behavior who might require separate products or marketing mixes?

Marginal revenue is the ________ when output is ________?

Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts?

The term “Dumping” means?

The annual growth rate of edible oil is?

A deliberate attempt to persuade the individual to accept a particular belief or to make a specific choice uncritically is________?

Economics is the study of?

Marginal revenue is the when output is ?

Compared to what occurred under free trade, Mexico’s producer surplus and consumer surplus as a result of the subsidy Use the figure that you have plotted to calculate the amounts?

Marginal revenue is the when output is ?

Compared to what occurred under free trade, Mexico’s producer surplus and consumer surplus as a result of the subsidy Use the figure that you have plotted to calculate the amounts?