A. 4 percent
B. 10 percent
C. -4 percent
D. 3 percent
E. 21 percent
Economics Mcqs
The downward sloping marginal physical product of labor is the firm’s ?
A. Supply of labor
B. Short-run demand curve for labor
C. marginal cost of labour
marginal revenue product of labor
Which of the following statements is correct ?
A. none of these answers
B. The nominal interest rate is the inflation rate minus the real interest rate
C. The real interest rate is the nominal interest rate minus the inflation rate
D. The nominal interest rate is the real interest rate minus the inflation rate.
The participation rate in the labour force is affected by ?
A. higher real wages
B. lower fixed costs of working
C. lower non-labour income
D. changes in tastes between leisure and work
E. all of the above
Under which of the following conditions would you prefer to be the lender ?
A. The nominal rate of interest is 15 percent and the inflation rate is 14 percent
B. The nominal rate of interest is 20 percent and the inflation rate is 25 percent
C. The nominal rate of interest is 12 percent and the inflation rate is 9 percent
D. The nominal rate of interest is 5 percent and the inflation rate are 1 percent
Human capital can be described as ?
A. the tools used by workers to enhance productivity
B. a person inherited ability
C. the stock of expertise accumulated by a worker
D. education
If borrowers and lenders agree on a nominal interest rate and inflation turns out to be less than they had expected ?
A. neither borrowers nor lenders will gain because the nominal interest rate has been fixed by contract
B. None of these answers
C. borrowers will gain at the expense of lenders
D. lenders will gain at the expense of borrowers
The opportunity cost of acquiring education is ?
A. course fees
B. course fees and living expenses
C. the earnings foregone
D. Course fees living expenses and textbook
Demand pull inflation may be caused by ?
A. An increase in costs
B. A reduction in interest rate
C. A reduction in government spending
D. An outward shift in aggregate supply
Unions achieve a higher wage differential the more ….. and the more ……?
A. inelastic the demand for labour, they can restrict the supply of labour
B. members they have, aggressive they behave
C. the economy is growing, people prefer leisure
D. the productivity is growing vacancies exist