Economics MCQs

A. Household’s purchases of food

B. Households’ purchase of a car

C. Household’s payment of rent for an apartment

D. Household’s purchase of stock in any XYZ corporation

A. The trade-off between inflation and unemployment

B. The trade-off between output and unemployment

C. The positive relationship between output and unemployment

D. The positive relationship between inflation and unemployment

A. New York Interbank Offered Rates (NIBOR)

B. international Interbank Offered Rates (IOBOR)

C. London Interbank Offered Rate (LIBOR)

D. USA Interbank Offered Rate (UIBOR)

A. Economic profit

B. Accounting profit

C. Normal profit

D. supernormal profit

A. Capitalism exploits the worker and socialism exploits the property owner

B. Capitalism relies on the market to make economic decisions and socialism uses central planning

C. Capitalism grows through rent-seeking and socialism grows through government direction

D. Capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction

A. sell 4 million pounds of tin

B. sell 8 million pounds of tin

C. buy 4 million pounds of tin

D. buy 8 million pounds of tin

A. the tax burden falls most heavily on the buyers.

B. the buyers bear the burden of the tax.

C. the sellers bear the burden of the tax.

D. the tax burden on the buyers and sellers in the same as an equivalent tax collected from the sellers.

A. Gold currency

B. Hard currency

C. Silver currency

D. Soft currency

A. Deficit Budget

B. Reduction in taxation

C. Increase in public expenditure

D. Reverse of inflation

A. A country is poor because it has lower productivity but high savings

B. As countries grow richer they save less

C. Poverty perpetuates itself in mutually reinforcing circles on supply and demand sides

D. Market size is large in LDCs