Explore topic-wise MCQs in Economics.

This section includes 1267 Mcqs, each offering curated multiple-choice questions to sharpen your Economics knowledge and support exam preparation. Choose a topic below to get started.

301.

The production possibilities frontier refers to_______________?

A. the amount of each commodity that can be produced given available resources
B. unlimited production of one commodity
C. limitless output of commodities
D. none of the above
Answer» B. unlimited production of one commodity
302.

The processes of cultural change include______________?

A. conservatism and reactionism
B. innovation and invention
C. conformity and obedience
D. nationalism and patriotism
Answer» E.
303.

The process of circulating petitions in order to place specific issues before the legislators is called____________?

A. impressment
B. appeasement
C. innuendo
D. initiative
Answer» E.
304.

The privileged position of the modern industrial nations was attained because of_______________?

A. a change in the economy from agrarian to industrial
B. a change in the population distribution from rural to urban
C. the discovery of natural resources
D. both urbanization and industrialization
Answer» E.
305.

The principle of the separation of powers________________?

A. was imitated by the framers of the constitution from Roman forms of government
B. provides for an absolute separation of three branches of government
C. is prescribed by the Constitution
D. was a notion the framers had to abandon
Answer» D. was a notion the framers had to abandon
306.

The principal difference between people and other animals is that ?

A. animals larger and stronger
B. people communicate with symbols while animals communicate with signals
C. biology dictates human behavior while instincts direct animal behavior
D. people live in families while animals live in tribes
Answer» C. biology dictates human behavior while instincts direct animal behavior
307.

The primary function of the economy as a social institution is to________________?

A. convict felons in Common Pleas Cout
B. Provide a blueprint showing people how to survive
C. show people how to obtain goods and services without having to pay for them
D. none of the above
Answer» C. show people how to obtain goods and services without having to pay for them
308.

The primary agent of socialization is the______________?

A. peer group
B. school
C. family
D. mass media
Answer» D. mass media
309.

The price system is based on_______________?

A. a government plan
B. tradition
C. consumer demand
D. the command of a ruler
Answer» D. the command of a ruler
310.

The price system_______________?

A. is equitable
B. rations products among consumers
C. allows wealthy consumers to obtain more products
D. only B and C
Answer» E.
311.

The presidents most important role is as_______________?

A. administrator
B. foreign policy maker
C. legislator
D. ceremonial representative of the U.S
Answer» C. legislator
312.

The precautionary demand for money is ?

A. An idle because
B. An active balance
C. Directly related to interest rates
D. Inversely related to income
Answer» B. An active balance
313.

The practice of U.S corporations’ moving’s their production facilities abroad is called________________?

A. multinationalism
B. insourcing
C. diversification
D. Oligopoly
Answer» B. insourcing
314.

The practice of requiring degrees as a minimum hiring requirement is called_______________?

A. elitism
B. academicism
C. credentialism
D. syndication
Answer» D. syndication
315.

The powers held by the states include those that are________________?

A. reserved
B. delegated
C. confederate
D. legislative
Answer» B. delegated
316.

The power elite are drawn from among the_______________?

A. military and business leaders
B. middle-class urban residents
C. union leaders
D. intellectuals
Answer» B. middle-class urban residents
317.

The popularity of spaghetti in the United States resulted from_______________?

A. the discovery of noodles
B. the invention of pasta machines
C. diffusion
D. an innovation in agriculture
Answer» D. an innovation in agriculture
318.

The Pope,s leadership of the Catholic Church is based on which kind of authority ?

A. Legal-rational
B. Democratic
C. Traditional
D. Charismatic
Answer» D. Charismatic
319.

The political process_______________?

A. allows those representing minority views to try to become the majority
B. favors those representing majority views
C. allows those in positions of power to ignore the peoples wishes
D. none of the above
Answer» B. favors those representing majority views
320.

The political organization that may have too much influence on elected officials because of its generous contribution is the________________?

A. Republican Club
B. Democratic Club
C. Political Action Committee
D. Rules Committee
Answer» D. Rules Committee
321.

The pivotal institution of government_________________?

A. exists in every nation
B. is lacking in Third-World nations
C. is represented by the U.N on a global level
D. exists only theoretically or in a rudimentary form on the international level
Answer» E.
322.

The PFI aims to deliver public projects and services using ?

A. Public borrowing
B. The private sector
C. time and motion studies
D. foreign labour
Answer» C. time and motion studies
323.

The perpetrators of fatal child abuse have these traits in common________________?

A. they are young males
B. they live at or below the poverty level
C. they are seriously depressed
D. all of these
Answer» E.
324.

The percentage of men filing divorce petitions is________________?

A. equal to that of women
B. less than that of women
C. considerably more than that of women
D. slightly more than that of women
Answer» C. considerably more than that of women
325.

The percentage of people around the world who lived in cities in 2005 is approximately________________?

A. 20 percent
B. 49 percent
C. 50 percent
D. 80 percent
Answer» C. 50 percent
326.

The participants in a market economy cannot pursue their goals freely because they are affected by_________________?

A. the ratio of gold to paper money
B. economic laws
C. prices and incomes
D. the religious institution
Answer» D. the religious institution
327.

The participants in a market include_____________?

A. households
B. firms
C. governments
D. all of the above
Answer» E.
328.

The overall poverty rate is highest among______________?

A. women
B. children under 6
C. the elderly
D. black males
Answer» C. the elderly
329.

The opposite of the rule of law is________________?

A. anarchy
B. the rule of men
C. the rule of custom
D. the rule of reason
Answer» C. the rule of custom
330.

The opposite of a nuclear family is the______________?

A. conjugal family
B. atomic family
C. extended family
D. group family
Answer» D. group family
331.

The opposite of a variable is a______________?

A. law
B. concept
C. value
D. constant
Answer» E.
332.

The oldest form of power rests on_______________?

A. rational-legal authority
B. charismatic authority
C. traditional authority
D. the authority of force
Answer» D. the authority of force
333.

The oil supplies of the United States are subject to______________?

A. constant increase
B. environmental depletion
C. environmental pollution
D. price stability
Answer» C. environmental pollution
334.

The objective approach to determine social class membership is based on________________?

A. income
B. years of education
C. prestigious position
D. all of the above
Answer» E.
335.

The numbers of PACs ?

A. doubled since 1974
B. tripled since 1074
C. quadrupled since 1974
D. increased nearly sevenfold since 1974
Answer» E.
336.

The number of births in a population in relation to every 1000 women of childbearing age in a year is called the________________?

A. birthrate
B. fertility rate
C. population pyramid
D. population growth rate
Answer» B. fertility rate
337.

The nuclear from of the family often appears in_________________?

A. traditional agrarian societies
B. industrial societies
C. locations where there is the need for large families
D. rural areas
Answer» C. locations where there is the need for large families
338.

The nuclear family is characteristic of industrial societies because______________?

A. most functions are better performed in secondary groups
B. geographic and social mobility are common in industrial societies
C. ascribed status is more important in industrial societies
D. a large family means more hands to work
Answer» C. ascribed status is more important in industrial societies
339.

The nuclear family form is also called________________?

A. conjugal
B. consanguine
C. procreational
D. extended
Answer» B. consanguine
340.

The norm of reciprocity entails______________?

A. doing things in an institutionalized way
B. working jointly in a common enterprise for a shared goal
C. doing something in return for what someone has done for you
D. all of the above
Answer» D. all of the above
341.

The noncustodial parent______________?

A. renounces all responsibility for his children
B. is often a “deadbeat dad”
C. is usually unfit to be a parent
D. none of the above
Answer» C. is usually unfit to be a parent
342.

The newest challenge to the family,s formerly exclusive claim to the socialization of its children has come from ?

A. the peer groups
B. the mass media
C. the day-care center
D. child psychotherapy
Answer» D. child psychotherapy
343.

The “New Class” is characterized as consisting of______________?

A. apolitical bureaucrats
B. the working poor
C. former members of the middle class
D. professionals with skills important in the information society
Answer» E.
344.

The negative functions of interest groups include_______________?

A. they are representative of a minority of people
B. they are democratic
C. they are accountable to the public
D. none of the above
Answer» E.
345.

The natural environment is_________________?

A. the way humans found the earth
B. the totality of natural conditions and resources that occur in a specific area
C. the total complex of manmade elements in an area
D. mountains oceans rivers and deserts
Answer» C. the total complex of manmade elements in an area
346.

The nation with the longest political campaign period is_______________?

A. Italy
B. the United States
C. England
D. all nations take the same time to campaign
Answer» C. England
347.

The nation that social institutions reinforce and legitimize class division is derived from___________?

A. Karl Marx
B. Emile Durkheim
C. Adam Smith
D. Max Weber
Answer» B. Emile Durkheim
348.

The myth complex functions to_________________?

A. make people feel free
B. secure that will of the people
C. give legitimate authority to the government in power
D. fool the people some of the time
Answer» D. fool the people some of the time
349.

The most self-sufficient group is________________?

A. the family
B. the military
C. ones in-group
D. society
Answer» E.
350.

The most recent view of black family problems is that they are a result of_______________?

A. biology
B. the heritage of slavery
C. historic events of recent years
D. none of the above
Answer» D. none of the above