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Economics MCQs with Explanations

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491EconomicsMedium

Discrimination against the elderly has been especially apparent in the area of________?

Aretirement

Bemployment

Chospitalization

Dcreditworthiness

Correct answer

B. employment

Explanation

The correct answer is employment.

492EconomicsMedium

Unions tend to increase the disparity in pay between insiders and outsiders by?

AIncreasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector

BIncreasing the demand for workers in the Unionized sector

Cdecreasing the demand for workers in the Unionized sector

Dincreasing the wage in the Unionized sector, Which may create a decrease in the supply of workers in the non-unionized sector

Correct answer

A. Increasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector

Explanation

The correct answer is Increasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector.

493EconomicsMedium

Moral control________?

Acan only be exerted through the institution of religion

Bdose not exist in large urban industrial societies

Cis insufficient to maintain social order in complex societies

Dis best when exerted by forces outside the individual

Correct answer

C. is insufficient to maintain social order in complex societies

Explanation

The correct answer is is insufficient to maintain social order in complex societies.

494EconomicsMedium

Dominant groups tend to use all but which of the following methods in dealing with minorities?

Apopulation transfers

Bcultural relativity

Cforced assimilation

Deconomic exploitation

Correct answer

B. cultural relativity

Explanation

The correct answer is cultural relativity.

495EconomicsMedium

The Faisalabad is also known as?

ALittle England

BLittle Manchester

CLittle California

DLittle Oxford

Correct answer

B. Little Manchester

Explanation

The correct answer is Little Manchester.

496EconomicsMedium

Professionalization means________?

Aracial polarization

Bexcessive upward mobility

Cinterlocking directorates

Da combination of theoretical knowledge and training

Correct answer

D. a combination of theoretical knowledge and training

Explanation

The correct answer is a combination of theoretical knowledge and training.

497EconomicsMedium

An increase in the wage rate?

Awill cause a shift in the demand for labour

BWill decrease total earning if the demand for labour is wage elastic

Cis illegal in a free market

DWill usually lead to more people employed

Correct answer

A. will cause a shift in the demand for labour

Explanation

The correct answer is will cause a shift in the demand for labour.

498EconomicsMedium

A way of helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as?

ANew classical economists

Bmonetarists

Cleft-wing theorists

Dinterventionist policies

Correct answer

D. interventionist policies

Explanation

The correct answer is interventionist policies.

499EconomicsMedium

In the short run firms in perfect competition will still produce provided?

AThe price covers variable cost

BThe price covers fixed costs

CThe price covers average variable cost

DThe price covers average fixed cost

Correct answer

C. The price covers average variable cost

Explanation

The correct answer is The price covers average variable cost.

500EconomicsMedium

Within the supply and demand model, a tax collected from the sellers of a good shift the?

Ademand curve upward by the size of the tax per unit.

Bsupply curve downward by the size of the tax per unit

Csupply curve upward by the size of the tax per unit

Ddemand curve downward by the size of the tax per unit.

Correct answer

C. supply curve upward by the size of the tax per unit

Explanation

The correct answer is supply curve upward by the size of the tax per unit.

Unions tend to increase the disparity in pay between insiders and outsiders by?

AIncreasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector

BIncreasing the demand for workers in the Unionized sector

Cdecreasing the demand for workers in the Unionized sector

Dincreasing the wage in the Unionized sector, Which may create a decrease in the supply of workers in the non-unionized sector

Correct answer

A. Increasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector

Explanation

The correct answer is Increasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector.

Moral control________?

Acan only be exerted through the institution of religion

Bdose not exist in large urban industrial societies

Cis insufficient to maintain social order in complex societies

Dis best when exerted by forces outside the individual

Correct answer

C. is insufficient to maintain social order in complex societies

Explanation

The correct answer is is insufficient to maintain social order in complex societies.

An increase in the wage rate?

Awill cause a shift in the demand for labour

BWill decrease total earning if the demand for labour is wage elastic

Cis illegal in a free market

DWill usually lead to more people employed

Correct answer

A. will cause a shift in the demand for labour

Explanation

The correct answer is will cause a shift in the demand for labour.

Within the supply and demand model, a tax collected from the sellers of a good shift the?

Ademand curve upward by the size of the tax per unit.

Bsupply curve downward by the size of the tax per unit

Csupply curve upward by the size of the tax per unit

Ddemand curve downward by the size of the tax per unit.

Correct answer

C. supply curve upward by the size of the tax per unit

Explanation

The correct answer is supply curve upward by the size of the tax per unit.