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Economics MCQs with Explanations

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801EconomicsMedium

Point out the term for producer goods such as machinery that is used in production of commodities?

ACapital goods

BRunning capital

CCapital assets

DHard capital

Correct answer

A. Capital goods

Explanation

The correct answer is Capital goods.

802EconomicsMedium

Countries such as ________ that failed to adjust to a persistent external disequilibrium were more vulnerable to poverty displacement and even war?

ABrazil and Argentina

BAlgeria and Yugoslavia

CSingapore and Malaysia

DJapan and Korea

Correct answer

B. Algeria and Yugoslavia

Explanation

The correct answer is Algeria and Yugoslavia.

803EconomicsMedium

An agreement between a borrower country and the International Monetary Fund in which the country agrees to revamp its economic policies to provide incentives for higher export earnings and lower imports is a?

Adebt service agreement

Bprogram for growth

Cstabilization program

Ddebt rescheduling agreement

Correct answer

D. debt rescheduling agreement

Explanation

The correct answer is debt rescheduling agreement.

804EconomicsMedium

According to the trade theory of Staffan Linder trade tends to be most pronounced in manufactured goods when trading countries have?

Asimilar levels of technology

Bsimilar per-capita incomes

Csimilar wage levels

Dsimilar endowments of natural resources

Correct answer

B. similar per-capita incomes

Explanation

The correct answer is similar per-capita incomes.

805EconomicsMedium

Adult socialization typically________?

Aoccurs incidentally and unconsciously

Bis less effective and easier to resist than childhood socialization

Cinvolves acquiring a self-image

Dall of the above

Correct answer

B. is less effective and easier to resist than childhood socialization

Explanation

The correct answer is is less effective and easier to resist than childhood socialization.

806EconomicsMedium

Which of the following processes includes isolation of the minority population?

Aaccommodation

Bsegregation

Cassimilation

Dacculturation

Correct answer

B. segregation

Explanation

The correct answer is segregation.

807EconomicsMedium

All of the following considered to be drawbacks of local marketing EXCEPT?

Ait can drive up manufacturing and marketing costs by reducing economies of scale

Bit can dilute the brand’s overall image

Cit can attract unwanted competition

Dit can create logistical problems when the company tries to meet varied requirements

Correct answer

C. it can attract unwanted competition

Explanation

The correct answer is it can attract unwanted competition.

808EconomicsMedium

Which of the following was a socialist country?

AII and III only

BI and IV only

CI and II only

DIII and IV only

Correct answer

A. II and III only

Explanation

The correct answer is II and III only.

809EconomicsMedium

Supporters of antimonopoly enforcement argue that the real gain from such enforcement?

Ais that if encourages firms to engage in research which leads to new products

BIs that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising

Cis that it forces firms to produce efficiently.

Dis the revenue generated from the fines paid by those individuals who are found guilty of antitrust violation?

Correct answer

B. Is that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising

Explanation

The correct answer is Is that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising.

810EconomicsMedium

Improved training of employees would?

Ashift aggregate demand to the left

BShift aggregate supply to the right

CShift aggregate demand to the right

DShift aggregate supply to the left

Correct answer

B. Shift aggregate supply to the right

Explanation

The correct answer is Shift aggregate supply to the right.

Adult socialization typically________?

Aoccurs incidentally and unconsciously

Bis less effective and easier to resist than childhood socialization

Cinvolves acquiring a self-image

Dall of the above

Correct answer

B. is less effective and easier to resist than childhood socialization

Explanation

The correct answer is is less effective and easier to resist than childhood socialization.

All of the following considered to be drawbacks of local marketing EXCEPT?

Ait can drive up manufacturing and marketing costs by reducing economies of scale

Bit can dilute the brand’s overall image

Cit can attract unwanted competition

Dit can create logistical problems when the company tries to meet varied requirements

Correct answer

C. it can attract unwanted competition

Explanation

The correct answer is it can attract unwanted competition.

Supporters of antimonopoly enforcement argue that the real gain from such enforcement?

Ais that if encourages firms to engage in research which leads to new products

BIs that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising

Cis that it forces firms to produce efficiently.

Dis the revenue generated from the fines paid by those individuals who are found guilty of antitrust violation?

Correct answer

B. Is that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising

Explanation

The correct answer is Is that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising.