Which of the following is likely to create a compensating differential?
Correct answer C. One employee is willing to work the night shift while another is not
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Economics MCQs
Page 88 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 88 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
When the price of labour rises, the substitution effect will ____ the quantity of labour demanded. What will the output effect do to it?
Correct answer B. Reduce; reduce
If the nominal interest rate is 7 percent and inflation is 3 percent, what is the real interest rate?
Correct answer C. 4 percent
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In the firm’s labour market analysis, what does the downward-sloping marginal physical product of labour curve (valued as marginal revenue product) represent?
Correct answer B. Short-run demand curve for labour
Which of the following statements about interest rates is correct?
Correct answer C. The real interest rate is the nominal interest rate minus the inflation rate
Which of the following affects the labour force participation rate?
Correct answer E. All of the above
In which of these situations would you rather be the lender?
Correct answer C. The nominal rate of interest is 5 percent and the inflation rate is 1 percent
How can human capital be described?
Correct answer A. The stock of expertise accumulated by a worker
Borrowers and lenders agree a nominal interest rate, but inflation turns out lower than they expected. What happens?
Correct answer B. Lenders gain at the expense of borrowers
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What is the opportunity cost of getting an education?
Correct answer D. The earnings forgone
Which of the following may cause demand-pull inflation?
Correct answer C. A reduction in interest rates
Unions achieve a larger wage differential the more of which two conditions hold?
Correct answer D. Inelastic the demand for labour, they can restrict the supply of labour
What may an increase in injections into the economy lead to?
Correct answer A. An outward shift of aggregate demand and demand-pull inflation
What is the most important source of wage differentials?
Correct answer B. Skills
What will a rise in costs do?
Correct answer A. Shift aggregate supply
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In relation to inflation, what are menu costs?
Correct answer B. Costs of altering price lists
Why do women and non-white people in Western countries receive lower incomes than white men on average?
Correct answer D. All of the above
Efficiency wages are what kind of wages, and what do they raise?
Correct answer A. High wages, productivity
According to the Phillips curve, when will unemployment return to its natural rate?
Correct answer D. When nominal wages are equal to expected wages
What is the cost of using capital services called?
Correct answer B. Rental rate for capital