MCQOPTIONS
Saved Bookmarks
MCQOPTIONS
This section includes 1337 Mcqs, each offering curated multiple-choice questions to sharpen your Economics Mcqs knowledge and support exam preparation. Choose a topic below to get started.
| 1151. |
The public sector_________________? |
| A. | is bloated with a large bureaucracy |
| B. | employs one of every four workers |
| C. | is less efficient and effective than the private sector |
| D. | all of the above |
| Answer» E. | |
| 1152. |
When the American Cigar Co buys a pizza chain the process is called________________? |
| A. | monopoly |
| B. | diversification |
| C. | planned obsolescence |
| D. | takeover attempt |
| Answer» C. planned obsolescence | |
| 1153. |
The behavior of an individual firm is part of_______________? |
| A. | macroeconomics |
| B. | macroeconomics |
| C. | macroeconomics |
| D. | institutional economics |
| Answer» D. institutional economics | |
| 1154. |
Inflation results when_________________? |
| A. | demand exceeds supply |
| B. | supply exceed demand |
| C. | there is control of purchasing power |
| D. | consumers have no purchasing power |
| Answer» B. supply exceed demand | |
| 1155. |
Socialism and communism both call for________________? |
| A. | government controlling parts of the economy for the common good |
| B. | revolutionary change |
| C. | abolition of private property |
| D. | totalitarian government and dictatorship of the proletariat |
| Answer» B. revolutionary change | |
| 1156. |
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 | |
| 1157. |
A member of a Navajo tribe can graze his sheep on clan land but he cannot sell it Navajo land is what kind of property ? |
| A. | Public |
| B. | Private |
| C. | Communal |
| D. | Indian |
| Answer» D. Indian | |
| 1158. |
Which is NOT a socioeconomic goal _______________? |
| A. | Full employment |
| B. | High and equitably distributed income |
| C. | Reasonable price stability |
| D. | Low prime interest rate |
| Answer» E. | |
| 1159. |
C.Wright Mills wrote that the “power elite” controls_________________? |
| A. | all political and social issues |
| B. | the major issues like war and peace |
| C. | the election of all national officials |
| D. | access to Supreme Court appointments |
| Answer» C. the election of all national officials | |
| 1160. |
A professional trained in a narrow abstract field is a________________? |
| A. | vice president |
| B. | specialist |
| C. | bureaucrat |
| D. | foreman |
| Answer» C. bureaucrat | |
| 1161. |
Public government agencies are________________? |
| A. | firms |
| B. | households |
| C. | markets |
| D. | central authorities |
| Answer» E. | |
| 1162. |
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 | |
| 1163. |
Capitalisms roots can be found in_________________? |
| A. | feudal agriculture |
| B. | Christianity |
| C. | machine-based production |
| D. | dialectic materialism |
| Answer» D. dialectic materialism | |
| 1164. |
The Keynesian revolution acknowledged_________________ ? |
| A. | that the masses were being exploited |
| B. | that the market was inherently unstable |
| C. | the need for the intervention of the owners of the means of production |
| D. | that industrial workers were becoming the new bourgeoisie |
| Answer» C. the need for the intervention of the owners of the means of production | |
| 1165. |
When supply and demand are essentially equal the economy is said to be in________________? |
| A. | a recession |
| B. | equilibrium |
| C. | equivalence |
| D. | abeyance |
| Answer» C. equivalence | |
| 1166. |
One of the functions of public policy is to________________? |
| A. | mediate among conflicting economic goals |
| B. | plan to ensure the correct mix of supply and demand |
| C. | ensure that everyone is a sinner in the economy |
| D. | none of the above |
| Answer» B. plan to ensure the correct mix of supply and demand | |
| 1167. |
In economic growth it is important to consider________________? |
| A. | the quantity of capital and labor |
| B. | the quality of capital and labor |
| C. | the quality of the labor force |
| D. | all of the above |
| Answer» E. | |
| 1168. |
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. | |
| 1169. |
The more consumers are willing to pay for a product_____________________? |
| A. | the more of the product will be produced |
| B. | the less producers will manufacture to raise the price still more |
| C. | the more they go into debt forcing them to stop buying |
| D. | the more expensive the product becomes |
| Answer» B. the less producers will manufacture to raise the price still more | |
| 1170. |
Congestion pollution urban decay and similar side effects of the market system are termed_____________? |
| A. | negatives |
| B. | externalities |
| C. | internalities |
| D. | tangentials |
| Answer» C. internalities | |
| 1171. |
A way of calculating the total output of the economy and all incomes earned within the Pakistan regardless of whether the resources are Pakistan or foreign is_______________? |
| A. | the GDP |
| B. | the GNP |
| C. | the NNP |
| D. | the SPQR |
| Answer» B. the GNP | |
| 1172. |
The main function of organized labor is to_______________? |
| A. | manage large corporations |
| B. | strike |
| C. | bargain collectively |
| D. | regulate safety |
| Answer» D. regulate safety | |
| 1173. |
NAFTA binds which three countries into a single commercial entity ? |
| A. | Mexico Panama Costa Rica |
| B. | United States Canada Puerto Rico |
| C. | United States Canada Mexico |
| D. | United States Cuba Mexico |
| Answer» D. United States Cuba Mexico | |
| 1174. |
“Laissez-faire” is a policy that appeals to_______________? |
| A. | political liberals |
| B. | political independents |
| C. | political conservatives |
| D. | political freethinkers |
| Answer» D. political freethinkers | |
| 1175. |
Income distribution according to productive contribution is____________? |
| A. | efficient but inequitable |
| B. | inefficient but equitable |
| C. | efficient and equitable |
| D. | a tenet of communism |
| Answer» B. inefficient but equitable | |
| 1176. |
The elitist school of thought asserts that______________? |
| A. | the elite is not always against the masses |
| B. | the elite always works against the public interest |
| C. | the elite displays a monolithic power structure |
| D. | the masses should rebel against the elite |
| Answer» B. the elite always works against the public interest | |
| 1177. |
Participant observation_________________? |
| A. | is exclusively used by anthropologists |
| B. | requires the researcher to disguise his or her identity |
| C. | involves experimental controls |
| D. | may compromise the objectivity of the researcher |
| Answer» E. | |
| 1178. |
The condition of an increase in prices NOT triggered by an increase in demand is called_______________? |
| A. | hyperinflation |
| B. | the Pigou effects |
| C. | inflation |
| D. | restraint of trade |
| Answer» D. restraint of trade | |
| 1179. |
Income received by firms from sources other than households is called_________________? |
| A. | incremental |
| B. | windfalls |
| C. | injections |
| D. | incidentals |
| Answer» D. incidentals | |
| 1180. |
The marginal productivity of labor_________________? |
| A. | concerns wage rates and labor supply |
| B. | is a political as well as economic issue |
| C. | is complicated by overlapping labor markets |
| D. | all of the above |
| Answer» E. | |
| 1181. |
Professionalization means________________? |
| A. | everyone is called by a title |
| B. | the same as unemployment |
| C. | there is a decrease in polarization |
| D. | having theoretical knowledge in addition to training |
| Answer» E. | |
| 1182. |
Income received by firms that is not returned to households or other firms is called________________? |
| A. | savings |
| B. | withdrawals |
| C. | unbalanced exchange |
| D. | exchange flow |
| Answer» C. unbalanced exchange | |
| 1183. |
Which of the following is NOT a predominant goal of American society ? |
| A. | a desirable mix of windfall profits |
| B. | a leisure-based society |
| C. | spectacular growth |
| D. | none of the above are dominant goals |
| Answer» E. | |
| 1184. |
What kind of a system is the economic institution ? |
| A. | Cultural and social |
| B. | Religious and educational |
| C. | Semantic and semitic |
| D. | Typically, American |
| Answer» B. Religious and educational | |
| 1185. |
The following factors are important in production_______________? |
| A. | water space air |
| B. | earth wind fire |
| C. | animal vegetable object |
| D. | technology time efficiency |
| Answer» E. | |
| 1186. |
Today most workers in the United States are employed in the_________________? |
| A. | primary sector |
| B. | secondary sector |
| C. | tertiary sector |
| D. | quaternary sector |
| Answer» D. quaternary sector | |
| 1187. |
Professionalization means__________________? |
| A. | excessive upward mobility |
| B. | interlocking directorates |
| C. | racial polarization |
| D. | a combination of theoretical knowledge and training |
| Answer» E. | |
| 1188. |
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 | |
| 1189. |
Material objects found in nature are called_______________? |
| A. | land |
| B. | capital |
| C. | labor |
| D. | time |
| Answer» B. capital | |
| 1190. |
Political activists_______________? |
| A. | are moving outside the Democratic party to achieve some of their political goals |
| B. | are becoming very scarce in both parties |
| C. | are hoping to create a third party |
| D. | none of the above |
| Answer» B. are becoming very scarce in both parties | |
| 1191. |
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 | |
| 1192. |
A symbiotic relationship exists between__________________? |
| A. | the press and politicians |
| B. | the president and Congress |
| C. | the two political parties |
| D. | all of the above |
| Answer» E. | |
| 1193. |
“Soft “money is_________________? |
| A. | money promised for campaigns |
| B. | money used to purchase air time |
| C. | money given after the election |
| D. | none of the above |
| Answer» E. | |
| 1194. |
If we add the numerical values of all our cases together and divide by the number of cases we get the_______________? |
| A. | median |
| B. | mode |
| C. | moot |
| D. | mean |
| Answer» E. | |
| 1195. |
Public policy according to elitists tends to reflect______________? |
| A. | the demands of the masses |
| B. | the values of the elites |
| C. | the ideals of the society |
| D. | the compromises necessary to temper ideals with reality |
| Answer» C. the ideals of the society | |
| 1196. |
The factors influencing the political behavior of American voters include ? |
| A. | mass media |
| B. | socialization |
| C. | social class |
| D. | all of the above |
| Answer» E. | |
| 1197. |
According to the “broker rule” school of though________________? |
| A. | power is in the hands of a small group of individuals |
| B. | Wall street brokers and other bankers hold the effective reins of government |
| C. | power is diffused among numerous interest groups who compete and compromise on the decision-making process |
| D. | the fewer interest groups exist the greater the stability of the political system |
| Answer» D. the fewer interest groups exist the greater the stability of the political system | |
| 1198. |
The relationship of the mass media and politicians can be described as_________________? |
| A. | political control of the media |
| B. | media subversion of government |
| C. | nonexistent |
| D. | symbiotic and adversarial |
| Answer» E. | |
| 1199. |
Advocates of the elitist approach believe that the ruling elite maintains its power by____________? |
| A. | physical force |
| B. | manipulation of the masses |
| C. | explaining the truth to the people |
| D. | none of the above |
| Answer» C. explaining the truth to the people | |
| 1200. |
Interest groups have the following traits They_______________? |
| A. | present official candidates to the electorate |
| B. | have the goal of complete control of the government |
| C. | put their names on ballots |
| D. | are only accountable to themselves |
| Answer» E. | |