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Economics MCQs with Explanations

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771EconomicsMedium

An increase in expected inflation?

Ashifts the short-run Phillips curve upward and the unemployment inflation trade-off is more favorable

Bshifts the short run Phillips curve downward and the unemployment inflation trade-off is less favorable.

CShifts the Short run Phillips curve upward and the unemployment inflation trade-off is less favorable

DShift the short-run Phillips curve downward and the unemployment inflation trade-off is more favorable

Correct answer

C. Shifts the Short run Phillips curve upward and the unemployment inflation trade-off is less favorable

Explanation

The correct answer is Shifts the Short run Phillips curve upward and the unemployment inflation trade-off is less favorable.

772EconomicsMedium

Gross Domestic Product can be measured as the sum of?

ANet National Product Gross National Product, and Disposable personal income

Bconsumption transfer payments. wages and profits.

Cconsumption investment government purchases and net exports

Dfinal goods and services intermediate goods, transfer payments, and rent

Einvestment wages profits and intermediate production

Correct answer

A. Net National Product Gross National Product, and Disposable personal income

Explanation

The correct answer is Net National Product Gross National Product, and Disposable personal income.

773EconomicsMedium

Downsizing is________?

Ato make in a half size

BNone of the above

Cto make in a actual size

Dto make in a smaller size

Correct answer

D. to make in a smaller size

Explanation

The correct answer is to make in a smaller size.

774EconomicsMedium

What kind of individual is valued in industrial and postindustrial societies?

Athe poor and alienated

Bmanual workers

Cnonproductive citizens

Da highly educated intellectual

Correct answer

B. manual workers

Explanation

The correct answer is manual workers.

775EconomicsMedium

The intermediary agent in the purchase and sale of any good is known as?

ADealer

BCommission agent

CBroker

DAgent

Correct answer

C. Broker

Explanation

The correct answer is Broker.

776EconomicsMedium

Interindustry trade can be explained by all of the following except?

Adifferent growing seasons of the year for agricultural products

Bhigh per capita incomes in exporting countries

Cproduct differentiation for good such as automobiles

Dhigh transportation costs as a proportion of product value

Correct answer

B. high per capita incomes in exporting countries

Explanation

The correct answer is high per capita incomes in exporting countries.

777EconomicsMedium

Monetary policy is regulated by?

APrivate entrepreneurs

BCentral Bank

CMoney lenders

DGovernment policy

Correct answer

B. Central Bank

Explanation

The correct answer is Central Bank.

778EconomicsMedium

A combined measure of productivity that takes account of both labor and capital productivity is known as?

Atotal exploitation

Btotal productivity

Ctotal factor productivity

Dlabour/capital productivity

Correct answer

C. total factor productivity

Explanation

The correct answer is total factor productivity.

779EconomicsMedium

Material culture________?

Aillustrates the evolution of tools and includes all objects made by humans

Bnone of the above

Cis of limited importance to humans

Dhas no relation to symbols?

Correct answer

A. illustrates the evolution of tools and includes all objects made by humans

Explanation

The correct answer is illustrates the evolution of tools and includes all objects made by humans.

780EconomicsMedium

What is called bankruptcy practitioner appointed by secured creditors to oversee the repayment of debts?

ASolicitor

BAgent

CReceiver

DLiquidator

Correct answer

C. Receiver

Explanation

The correct answer is Receiver.

An increase in expected inflation?

Ashifts the short-run Phillips curve upward and the unemployment inflation trade-off is more favorable

Bshifts the short run Phillips curve downward and the unemployment inflation trade-off is less favorable.

CShifts the Short run Phillips curve upward and the unemployment inflation trade-off is less favorable

DShift the short-run Phillips curve downward and the unemployment inflation trade-off is more favorable

Correct answer

C. Shifts the Short run Phillips curve upward and the unemployment inflation trade-off is less favorable

Explanation

The correct answer is Shifts the Short run Phillips curve upward and the unemployment inflation trade-off is less favorable.

Gross Domestic Product can be measured as the sum of?

ANet National Product Gross National Product, and Disposable personal income

Bconsumption transfer payments. wages and profits.

Cconsumption investment government purchases and net exports

Dfinal goods and services intermediate goods, transfer payments, and rent

Einvestment wages profits and intermediate production

Correct answer

A. Net National Product Gross National Product, and Disposable personal income

Explanation

The correct answer is Net National Product Gross National Product, and Disposable personal income.

Interindustry trade can be explained by all of the following except?

Adifferent growing seasons of the year for agricultural products

Bhigh per capita incomes in exporting countries

Cproduct differentiation for good such as automobiles

Dhigh transportation costs as a proportion of product value

Correct answer

B. high per capita incomes in exporting countries

Explanation

The correct answer is high per capita incomes in exporting countries.

Material culture________?

Aillustrates the evolution of tools and includes all objects made by humans

Bnone of the above

Cis of limited importance to humans

Dhas no relation to symbols?

Correct answer

A. illustrates the evolution of tools and includes all objects made by humans

Explanation

The correct answer is illustrates the evolution of tools and includes all objects made by humans.