A. no flexibility
B. no provision for public goods
C. no profit motives
D. responsiveness to demand
Miscellaneous Economics Mcqs
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
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
Exceptions to the circular flow are………………?
A. incidentals
B. withdrawals
C. injections
D. B and C only
In microeconomics the household is defined as……………?
A. the nuclear family
B. the extended family
C. everyone who lives under one roof
D. all of the above
Income received by households that is not returned to firms is called……………?
A. dissaving’s
B. withdrawals
C. incremental
D. injections
Need and demand…………….?
A. are unrelated concepts
B. amount to the same thing
C. are closely related to price
D. are closely related to supply
The Department of Health and Human Services has summarized the “correct” mix of goods and services through ?
A. “market basket of goods
B. the consumer price index
C. 165 social indicators
D. the externalities index
Without stabilized prices……………?
A. product market demand is problematic
B. resource market demand is problematic
C. the distribution of income becomes more inequitable
D. all of the above
Total planned OR desired spending in the economy as a whole within a given period is called………….?
A. pent-up demand
B. aggregate demand
C. elastic demand
D. excess demand