MCQOPTIONS
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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.
| 301. |
Income received by households that is not returned to firms is called_______________? |
| A. | dissaving’s |
| B. | withdrawals |
| C. | incremental |
| D. | injections |
| Answer» C. incremental | |
| 302. |
Firms sell their products in________________? |
| A. | factor markets |
| B. | resource markets |
| C. | product markets |
| D. | abstract markets |
| Answer» D. abstract markets | |
| 303. |
Exceptions to the circular flow are__________________? |
| A. | incidentals |
| B. | withdrawals |
| C. | injections |
| D. | B and C only |
| Answer» E. | |
| 304. |
Adequate growth of the economy refers to the goals of__________________? |
| A. | maintaining current standards of living in spite of increasing population |
| B. | increasing GNP per capita |
| C. | approximately 4% growth rate per year |
| D. | all of the above |
| Answer» E. | |
| 305. |
A corporation________________? |
| A. | is a public institution |
| B. | has the advantage of being able to accumulate vast amounts of capital in a short period of time |
| C. | can afford to pay for the latest research and technology |
| D. | all of the above |
| Answer» E. | |
| 306. |
What function do politicians serve according to pluralists ? |
| A. | Front men |
| B. | Statesmen |
| C. | Shills or decoys |
| D. | Power and interest brokers |
| Answer» E. | |
| 307. |
Liberals and conservatives agree to some extent that economic goals should include________________? |
| A. | full employment |
| B. | price stability |
| C. | adequate economic growth |
| D. | all of the above |
| Answer» E. | |
| 308. |
Which status is in transition and difficult to classify in corporate relationships ? |
| A. | Foreman |
| B. | Union official |
| C. | Stock holder |
| D. | CEO |
| Answer» B. Union official | |
| 309. |
Efficiency in economic terminology means________________? |
| A. | using existing technology |
| B. | obtaining the highest output in the least amount of time |
| C. | ignoring the time factor |
| D. | making do with as few workers as possible |
| Answer» C. ignoring the time factor | |
| 310. |
In contemporary market systems competition____________________? |
| A. | is quite strong |
| B. | is diluted by private and state monopolies |
| C. | does not exist |
| D. | has been replaced by planning |
| Answer» C. does not exist | |
| 311. |
Which economic orientations govern Western industrial societies ? |
| A. | Tradition |
| B. | Command |
| C. | Free Market |
| D. | BOTH market and command |
| Answer» E. | |
| 312. |
The market system consists of planning by__________________? |
| A. | inducement |
| B. | direction |
| C. | command |
| D. | tradition |
| Answer» B. direction | |
| 313. |
Specialized division of labor in industrial societies can make workers feel that they_______________? |
| A. | have lack of control |
| B. | have no sense of accomplishment |
| C. | are an anonymous group |
| D. | all of the above |
| Answer» E. | |
| 314. |
Each society must make the following decisions of an economic nature regarding the______________? |
| A. | time place and quantity of production |
| B. | assessment collection and counting of taxes |
| C. | measurement of land water and minerals |
| D. | production distribution and consumption of goods and services |
| Answer» E. | |
| 315. |
The numbers of PACs ? |
| A. | doubled since 1974 |
| B. | tripled since 1074 |
| C. | quadrupled since 1974 |
| D. | increased nearly sevenfold since 1974 |
| Answer» E. | |
| 316. |
Which resources are scarce in every society ? |
| A. | Fertile land |
| B. | Wheat and com |
| C. | Food shelter and protective coverings |
| D. | Sufficient males to mate with all the females |
| Answer» D. Sufficient males to mate with all the females | |
| 317. |
Which of the following groups has traditionally had the worst voting record in the United States ? |
| A. | Urban and suburban residents |
| B. | The young and underprivileged |
| C. | College educated professionals |
| D. | White collar workers |
| Answer» C. College educated professionals | |
| 318. |
Interest groups may be defined as__________________? |
| A. | groups of people interested in specific legislation |
| B. | groups of people who want to enter politics |
| C. | wealthy and civicminded people with excessive leisure time. |
| D. | coalitions of individuals with similar attitudes and interests who attempt to influence public policy |
| Answer» E. | |
| 319. |
The main problem facing societies with a surplus is_____________________? |
| A. | how to get rid of it |
| B. | what to produce how produce it and for whom to produce it |
| C. | there is no problem it is divided equally |
| D. | how to keep it away from enemies |
| Answer» C. there is no problem it is divided equally | |
| 320. |
The foremost advantage of a corporation is its_____________? |
| A. | ability to accumulate vast amounts of capital in a short time |
| B. | capacity for protracted periods of employment |
| C. | ability to profit from the labor of its employees |
| D. | necessity to exhibit the latest technology |
| Answer» B. capacity for protracted periods of employment | |
| 321. |
A modified version of elitist theory holds that_______________? |
| A. | elite members identify with middle-class values |
| B. | the masses can on occasion influence the elite |
| C. | elites vary in their degree of openness |
| D. | all of the above |
| Answer» E. | |
| 322. |
The chief function of interest group is to________________? |
| A. | provide group representation above and beyond that provided by our elected officials in Congress |
| B. | provide geographic representation |
| C. | bring into the open obscure problems to be solved |
| D. | choose candidates for political office |
| Answer» B. provide geographic representation | |
| 323. |
The classic textbook model of democracy is referred to as the__________________? |
| A. | Lockean model |
| B. | referendum model |
| C. | majoritarian model |
| D. | Madisonian model |
| Answer» D. Madisonian model | |
| 324. |
The third function of the legislative branch is________________? |
| A. | oversight |
| B. | ensuring that jobs are provided equally |
| C. | provide an opposition party to the administration in office |
| D. | none of the above |
| Answer» B. ensuring that jobs are provided equally | |
| 325. |
The synthesis of the elitist and pluralist approaches realist democracy assumes that_____________? |
| A. | voters do have a choice in elite competition |
| B. | the elites have a consensus on basic democracy |
| C. | new groups can become the new elite |
| D. | all of the above |
| Answer» E. | |
| 326. |
Government____________? |
| A. | is a pivotal institution |
| B. | is the acting arm of the state |
| C. | includes the political process |
| D. | all of the above |
| Answer» E. | |
| 327. |
Political parties in the U.S function to______________? |
| A. | define the interests of the people in the form of a platform |
| B. | provide personnel to run the government |
| C. | engage in political socialization |
| D. | all of the above |
| Answer» E. | |
| 328. |
Proposed political party reforms in the U.S include_____________? |
| A. | greater ideological division |
| B. | increasing numbers of Independents |
| C. | greater freedom of action for candidates |
| D. | adopting a winner-takes -all principle |
| Answer» B. increasing numbers of Independents | |
| 329. |
Federal legislation has sometimes been prompted by_____________________? |
| A. | outright opposition by state governments to federal law |
| B. | a general lack of financial resources and professional expertise at the state level |
| C. | inefficiency and sluggishness of state administrations |
| D. | all of the above |
| Answer» E. | |
| 330. |
Enacting legislation__________________? |
| A. | is a slow and painful process |
| B. | involves negotiation and compromise |
| C. | sometimes pits the executive branch against the interests of the members of states and districts |
| D. | all of the above |
| Answer» E. | |
| 331. |
Traditional autocracy has been replaced by________________? |
| A. | democracy |
| B. | egalitarianism |
| C. | authoritarian or totalitarian ideologies |
| D. | tyranny |
| Answer» D. tyranny | |
| 332. |
The federal government has increased its responsibilities at the local level because_____________? |
| A. | the states inefficiency |
| B. | the tenth amendment |
| C. | urban influence on the states |
| D. | excess state revenues |
| Answer» B. the tenth amendment | |
| 333. |
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 | |
| 334. |
Whenever a third party becomes significant its platform _______________ ? |
| A. | is rejected by the two main parties |
| B. | is integrated into the platforms of the two main parties |
| C. | is declared unconstitutional |
| D. | becomes a social movement |
| Answer» C. is declared unconstitutional | |
| 335. |
The United States government began to function in_______________? |
| A. | 1763 |
| B. | 1776 |
| C. | 1781 |
| D. | 1788 |
| Answer» E. | |
| 336. |
Statistics that allow researchers to generalize to a population from a sample are called______________? |
| A. | correlational |
| B. | descriptive |
| C. | inferential |
| D. | longitudinal |
| Answer» D. longitudinal | |
| 337. |
What were the goals of the Constitutional Convention ? |
| A. | To preserve the status quo |
| B. | To form a government that would serve the interests of all groups in the society |
| C. | To insure the power of the small farmers |
| D. | To diminish the power of a strong central government |
| Answer» C. To insure the power of the small farmers | |
| 338. |
Federalism many be defined as a system of_____________________? |
| A. | concurrent power |
| B. | central power |
| C. | wholesale power |
| D. | regional power |
| Answer» B. central power | |
| 339. |
The United States government includes the following traits____________? |
| A. | federalism |
| B. | a subordinate judiciary |
| C. | unlimited power |
| D. | appointed representatives |
| Answer» B. a subordinate judiciary | |
| 340. |
A reference group is a(n) ? |
| A. | group of which one is member without having asked to be |
| B. | formal or informal organization to which one belongs |
| C. | hierarchical system in an organization |
| D. | group to which an individual aspires to belong |
| Answer» C. hierarchical system in an organization | |
| 341. |
Contrary to Karl Marx,s expectations communist revolutions occurred in_______________? |
| A. | agricultural nations like Cuba |
| B. | less economically developed nations like Russia |
| C. | Asian nations lacking well-developed industrial sectors like China |
| D. | all of the above |
| Answer» E. | |
| 342. |
Like Freud Erik Erikson maintains that_______________? |
| A. | there are five psycho sexual stages |
| B. | the personality is fixed by age five |
| C. | psychoanalysis including dream analysis is the only way to overcome personality problems |
| D. | none of the above |
| Answer» E. | |
| 343. |
How are presidential programs funded ? |
| A. | By foreign nations |
| B. | By government investments |
| C. | By Congress |
| D. | By withdrawals from the Treasury Department |
| Answer» D. By withdrawals from the Treasury Department | |
| 344. |
“Laissez-faire”______________? |
| A. | is the rallying cry of the Women Liberation Movement? |
| B. | was Karl Marx’s exhortation to the workers of the world |
| C. | is the French expression Adam Smith used to mean that government should keep its hands off the economy? |
| D. | is the economic theory introduced to the U.S by Keynes? |
| Answer» D. is the economic theory introduced to the U.S by Keynes? | |
| 345. |
ideologies tend to arise during periods of_____________? |
| A. | prosperity |
| B. | crisis |
| C. | natural disasters |
| D. | conversations among intellectuals |
| Answer» C. natural disasters | |
| 346. |
In the United States a sense of national identity ? |
| A. | never developed |
| B. | was first based on a common ethnicity and language |
| C. | was later reinforced by the notion of “specialness” |
| D. | only B and C |
| Answer» E. | |
| 347. |
The theory speculating that every society develops a number of cultural goals for members to attain but that attainment is not possible for all is called the_____________? |
| A. | anomie theory |
| B. | differential association theory |
| C. | deviant personality theory |
| D. | focal concerns theory |
| Answer» B. differential association theory | |
| 348. |
A totalitarian regime______________? |
| A. | contains secret police |
| B. | controls the mass media |
| C. | exhibits a centralized control of the economy |
| D. | all of the above |
| Answer» E. | |
| 349. |
Fascism_______________? |
| A. | distrusts reason |
| B. | refuses violence |
| C. | stresses a belief in human equality |
| D. | appeals to intellectuals |
| Answer» B. refuses violence | |
| 350. |
When the lk of Uganda lost their traditional hunting grounds they ? |
| A. | rapidly became shepherds |
| B. | their formerly outgoing personalities changed |
| C. | became savage warriors |
| D. | became outgoing accomplished entrepreneurs |
| Answer» C. became savage warriors | |