A. Aggregate supply is perfectly elastic
B. Aggregate supply is Perfectly inelastic
C. Aggregate supply is unit elastic
D. Aggregate supply is relatively elastic
Economics Mcqs
The effect of inflation on the price competitiveness of a country’s products may be offset by ?
A. An appreciation of the currency
B. A revaluation of the currency
C. A depreciation of the currency
D. Lower inflation abroad
Which of the following could result in women being paid less than men ?
A. women obtaining less human capital because they don’t plan to work continuously to the age of retirement
B. Women entering and leaving the labour force to care for children
C. customers preferring to deal with men
D. women preferring to work in pleasant clean safe work places
E. all of these answers
The marginal tax rate is ?
A. the tax rate you pay on any additional income that you earn.
B. the total amount of tax you pay divided by your total income
C. the additional tax you pay divided by your total income
D. your total income divided by the total amount of tax you pay.
In the short run unemployment may fall below the natural rate of unemployment if ?
A. Nominal wages have risen less than inflation
B. Nominal wages have risen at the same rate as inflation
C. Nominal wages have risen more than inflation
D. Nominal wages have risen less than unemployment
A progressive income tax means that those with a higher income pay ?
A. a higher percentage of their income in taxes then low income people
B. a lower percentage of their income in taxes than low income people
C. the same percentage of their income in taxes as low income people all the taxes in the economy.
D. all the taxes in the economy
Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?
A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
B. increase in the number of unskilled workers available due to immigration into the UK.
C. decrease in the demand for unskilled workers are more poorly educated
D. increase in the number of unskilled workers available because workers are more poorly educated
Tax incidence is the ?
A. structure of the tax.
B. ultimate distribution of a tax’s burden
C. behaviour of shifting the tax to another party
D. measure of the impact the tax has on employment and output
The Phillips curve shows the relationship between inflation and what ?
A. The balance of trade
B. The rate of growth in an economy
C. The rate of price increase
D. Unemployment
It is not considered discrimination when an employer offers different opportunities to individuals that differ only by them ?
A. productivity
B. age
C. sex
D. race