Economics MCQs – Solved Questions & Study Feed

Question 1

The attitude of some Americans toward the minorities in their midst shows________?

Accepted Answer

the importance of culture

Question 2

Government levy tax on imports and exports What this tax is called?

Accepted Answer

Tariff

Question 3

Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations?

Accepted Answer

relatively less than

Question 4

In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except?

Accepted Answer

Grains prices would rise in the united States

Question 5

If people can borrow and lend to perfectly smooth out their lifetime living standards, then?

Accepted Answer

permanent income is a good measure of the distribution of living standards.

Question 6

Investment funds are established for the supports of institutions such as hospitals investment is called?

Accepted Answer

Endowment funds

Question 7

The ethnic groups among whom arranged marriages are common include________?

Accepted Answer

All of the above

Question 8

Which of the following countries leads in the production of Zinc?

Accepted Answer

Canada

Question 9

A demand-side theory that focuses on the role of money to finance aggregate demand is termed________?

Accepted Answer

monetarism

Question 10

It is the function of Congress to________?

Accepted Answer

vote funds for conducting foreign affairs

Question 11

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are?

Accepted Answer

substitutes complements

Question 12

Group marriage ________?

Accepted Answer

has never been consistently or extensively practiced

Question 13

A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product?

Accepted Answer

product development

Question 14

In animism________?

Accepted Answer

all of the above

Question 15

The text primarily applied Weber,s notion of status to________?

Accepted Answer

ranked occupational positions