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Economics MCQs with Explanations

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31EconomicsMedium

The agro based industry is?

AWoodwork

BDairy farms

CIron work

DCarpets

Correct answer

B. Dairy farms

Explanation

The correct answer is Dairy farms.

32EconomicsMedium

Unemployment resulting from imperfect information in the labour market is called ____ unemployment?

Adisequilibrium

BFrictional

Cnatural

Dreal-wage

Correct answer

B. Frictional

Explanation

The correct answer is Frictional.

33EconomicsMedium

When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n)?

Aquota

Bembargo

Ctariff

Dbarrier

Correct answer

A. quota

Explanation

The correct answer is quota.

34EconomicsMedium

If a government were to fix a minimum wage for adult workers, economists would predict?

Awages in general would fall as employers tried to hold down costs

Bthe costs and prices of firms employing cheap labour would increase

Cthere would be more unemployment

Dfewer young workers would be employed

Correct answer

B. the costs and prices of firms employing cheap labour would increase

Explanation

The correct answer is the costs and prices of firms employing cheap labour would increase.

35EconomicsMedium

A kinship system is based on________?

Aadoption

Bmarriage

Cnone of these

Dcommon descent

Correct answer

D. common descent

Explanation

The correct answer is common descent.

36EconomicsMedium

Female-headed families have________?

Agenerally a lower income than two-parent families

Ball of the above

Cincreased in number since 1970

Dgreater emotional stress in dealing with children

Correct answer

B. all of the above

Explanation

The correct answer is all of the above.

37EconomicsMedium

As the required reserve ratio is decreased the money multiplier?

Acould either increase or decrease

Bremain the same, as long as bank hold no excess reserves

Cincrease

Ddecrease

Correct answer

C. increase

Explanation

The correct answer is increase.

38EconomicsMedium

According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:

Aproductive resources are limited

Bpeople are irrational

Cpeople are greedy

Dhuman beings are inherently insecure

Correct answer

A. productive resources are limited

Explanation

The correct answer is productive resources are limited.

39EconomicsMedium

Import substitution is the replacement of by domestic production protection of ____?

Aimports, subsidies

Bimports, high tariffs or import quotas

Cexports, patents

Dexports, subsidies

Correct answer

B. imports, high tariffs or import quotas

Explanation

The correct answer is imports, high tariffs or import quotas.

40EconomicsMedium

Amartya K. Sen emphasizes that having enough to eat depends on?

Asociety’s high Gini concentration

Blow poverty rates

Can egalitarian income distribution

Dsociety’s system of entitlement

Correct answer

C. an egalitarian income distribution

Explanation

The correct answer is an egalitarian income distribution.

If a government were to fix a minimum wage for adult workers, economists would predict?

Awages in general would fall as employers tried to hold down costs

Bthe costs and prices of firms employing cheap labour would increase

Cthere would be more unemployment

Dfewer young workers would be employed

Correct answer

B. the costs and prices of firms employing cheap labour would increase

Explanation

The correct answer is the costs and prices of firms employing cheap labour would increase.

Economics MCQs with Explanations

The agro based industry is?

Unemployment resulting from imperfect information in the labour market is called ____ unemployment?

When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n)?

If a government were to fix a minimum wage for adult workers, economists would predict?

A kinship system is based on________?

Female-headed families have________?

As the required reserve ratio is decreased the money multiplier?

According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:

Import substitution is the replacement of ____ by domestic production ________ protection of ________?

Amartya K. Sen emphasizes that having enough to eat depends on?

Economics MCQs with Explanations

The agro based industry is?

Unemployment resulting from imperfect information in the labour market is called ____ unemployment?

When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n)?

If a government were to fix a minimum wage for adult workers, economists would predict?

A kinship system is based on________?

Female-headed families have________?

As the required reserve ratio is decreased the money multiplier?

According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:

Import substitution is the replacement of ____ by domestic production ________ protection of ________?

Amartya K. Sen emphasizes that having enough to eat depends on?

Import substitution is the replacement of by domestic production protection of ____?

Import substitution is the replacement of by domestic production protection of ____?