Which statement about participants in the market system is true?
Correct answer B. Are affected by prices and incomes
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Economics MCQs
Page 30 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 30 of 131
- Miscellaneous Economics 737
- Basic of Economics 430
- Markets, Efficiency And The Public Interest 167
- Agriculture & Irrigation System of Pakistan 126
- Market 87
- Macroeconomic Issues and Analysis 75
- Money, Interest Rates And Output 73
- Introduction To Economics 70
- Population And Development 62
- Profit Maximizing Under Perfect Competition And Monopoly 56
- Income Inequality 52
- Non-Tariff Trade Barriers 48
- Aggregate Supply, Unemployment And Inflation 45
- Natural Resources and the Environment Toward Sustainable Development 44
- Costs , Supply And Perfect Competition 44
- Human Capital 42
- Labour Market 39
- Monopoly 35
- Long Term Economic Growth 30
- Inflation & Productivity 30
- Regional Trading Arrangements 29
- Characteristics and Institutions of Developing Countries 24
- Oligopoly 23
- Consumer Theory vs. Real Consumers 20
- Applied Microeconomics 20
- Alternative Theories Of The Firm 20
- Public Goods 20
- Balance of Payments, Aid and Foreign Investment 19
- Prices, Wages & Taxes 19
- Comparative GDP 19
- Budget Deficits And The Trade Balance 18
- Macroeconomic Policy Tools 18
- Asymmetric Information 17
- Application of Economics 16
- Production Factors 16
- Monopoly & Competition 15
- Capital Formation, Investment Choice, Information Technology, And Technical Progress 15
- Monetary, Fiscal And Incomes Policy, And Inflation 15
- Average And Total Cost 14
- Poverty, Malnutrition, And Income Inequality 12
- Monetary Union 10
What is the lasting price reached where the supply and demand curves intersect called?
Correct answer D. Equilibrium price
Why is total laissez-faire impossible?
Correct answer D. All of the above
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Which statements describe the Great Depression?
Correct answer D. Only B and C
In economic terms, according to what are incomes distributed?
Correct answer B. A person's marginal productivity
Which measure calculates the total output of an economy regardless of where the resources are located?
Correct answer B. The GNP
What must happen to increase GNP and GDP per capita?
Correct answer D. Increase productivity
Of what is the excessive growth of government a side effect?
Correct answer A. Government intervention in the economy
Which policy option or options can be used to counteract business cycles?
Correct answer D. All of the above
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Who argued that the government sometimes needed to “prime the pump”?
Correct answer D. John Maynard Keynes
What do supply-side theories claim?
Correct answer C. A decline in aggregate supply is responsible for economic downturns
What do both fiscal and monetary policy focus on?
Correct answer B. The demand side of the market
Who are symbolic analysts?
Correct answer D. Only A and B
Which of the following statements is true?
Correct answer D. All of the above are true
Which types of job will be part of the future workforce?
Correct answer C. All but A
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How can the government restrain excessive aggregate demand that causes inflation?
Correct answer D. None of the above
How does the Federal Reserve regulate the money supply?
Correct answer D. All of the above
Why will future generations have to pay interest on today’s national debt?
Correct answer B. Budget deficits are funded with borrowed money
Into which categories can foreign policy decisions be divided?
Correct answer D. All of the above
What role does modern diplomacy give to diplomats?
Correct answer D. Limited roles as messengers