Economics MCQs

A. The price elasticity of demand is negative: the income elasticity of demand is negative

B. The price elasticity of demand is positive the income elasticity of demand is negative

C. The price elasticity of demand is negative the income elasticity of demand is positive

D. The price elasticity of demand is positive the income elasticity of demand is positive

A. Increasing government spending

B. Increasing public ownership of firms

C. Increasing the role of markets

D. Removing the profit motive

A. 160; 270

B. 10; 30

C. 10; 3.33

D. 30; 10

A. Bank loans

B. The payment without work

C. Tax payments

D. Payments made to all factors of production

A. State’s borrowing from its population

B. State’s borrowing from foreign government

C. state’s borrowing from international institution

D. All of these

A. To startups or internet startup

B. Path to profitability

C. Both of them

D. None of them

A. falls more heavily on sellers

B. falls entirely on sellers

C. falls more heavily on buyers.

D. is evenly distributed between buyers and sellers.

A. Organization for Economic Cooperation and Development and Development

B. Oil Exporting Countries Development

C. Organization for Environmental cooperative Department

D. Open Economies Caucus on Development

A. Changes in price caused by changes in demand

B. The rate of change of sales

C. The responsiveness of demand to price changes

D. The value of sales at a given price

A. A lack of substitutes for oil

B. Similar cost schedules for member countries

C. The highly inelastic world demand curve for oil

D. Economic recession for oil-importing nations