Economics MCQs

Page No. 63

Symbolic analysts are_______________?


apeople employed in new enterprises

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bemployees capable of manipulating data words and visual images

✖


c psychologists with advanced degrees

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d only A and B

✓


View Answer only A and B

Both fiscal and monetary policies focus on____________________?


a the supply side of the market

✖


bthe demand side of the market

✓


cboth sides of the market

✖


d the global market

✖



Supply-side theories claim that__________________?


a business cycles are caused by insufficient supply

✖


b a decline in aggregate supply is responsible for economic downturns

✓


can increase in aggregate supply causes output and employment to decline

✖


dnone of the above

✖



The argument that in some situations the government had to “prime the pump” was advanced by________________?


aKarl Marx

✖


bAdam Smith

✖


cJohn Maynard Keynes

✓


dMilton Friedman

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View Answer John Maynard Keynes

Which is/are the policy option(s) to counteract business cycles ?


aShift the demand curve

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bShift the supply curve

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cDo noting

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dAll of the above

✓


View Answer All of the above

The inordinate growth of government is a side effect of________________?


a the increasing poverty of individual states

✖


bgovernment intervention in the economy

✓


cthe political apathy of public

✖


dthe willingness of individuals to give up traditional freedoms

✖



In order to raise the GNP and the GDP per capita one must____________?


a earn more money

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b increase productivity

✓


cincrease absenteeism

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ddecrease productivity

✖



A way of calculating the total output of the economy regardless of where resources are located is________________?


a the GDP

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bthe GNP

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c the NNP

✖


dthe SPQR

✓


View Answer the SPQR

In economic terms incomes are distributed according to________________?


aa person’s marginal productivity

✓


bwhom one knows

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cwhich skills one has

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d innate talent

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The Great Depression_________________?


aresulted from the greed of the robber barons

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bresulted from insufficient demand

✖


cwas the worst case of massive unemployment

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donly B and C

✓


View Answer only B and C

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