📊Economics MCQs
Economics MCQs
451 MCQs31
The scientific method requires that ?
Athe scientist be objective
BThe scientific use precision equipment.
Conly correct theories are tested
Donly theories are tested. E. the scientist uses test tubes and have clean lab.
32
The theory of the second best suggests that in the absence of perfect competition a privatized industry should charge a price of ?
Ap = Z
BP = MC + Z
Cp = MC
DP = MC – Z
33
Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?
Arestrict; promote
Brestrict; restrict
Cpromote; promote
Dpromote; restrict
34
Which of the following issues is related to microeconomics ?
Athe impact of oil prices on car production
BThe impact of money on inflation
CThe impact of technology on economics growth
DThe impact of the deficit on saving
35
Positive statements are ?
AMacroeconomic
BMicroeconomics
Cstatements of description that can be tested
DStatements of prescription that involve value judgments.
36
Which of the following statements is normative ?
ALarge government deficits cause an economy to grow more slowly
BPeople work harder if the wage is higher
CThe unemployment rate should be lower
DPrinting too much money causes inflation
37
Which of the following will not shift a country’s production possibilities frontier outward ?
Aan advance in technology
Ban increase in the labor force
Can increase in the capital stock
Da reduction in unemployment
38
Which of the following statements about microeconomics and macroeconomics is not true ?
AThe study of very large industries is a topic within macroeconomics
BMacroeconomics is concerned with economy-wide phenomena
CMicroeconomics is a building block for macroeconomics
DMicroeconomics and macroeconomics cannot be entirely separated
39
Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?
Areally don’t disagree at all It just appears that they disagree.
Bdisagree because they have different values.
Cnone of these answers.
Ddisagree because they have different scientific judgments.
40
In making which of the following statements is an economist acting more like a scientist ?
AA reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.
BThe rate of inflation should be reduced because it robs the elderly of their savings.
CThe unemployment rate should be reduced because unemployment robs individuals of their dignity.
DThe state should increase subsidies to universities because the future of our country depends on education.