Economics MCQs

Page No. 63

Symbolic analysts are_______________?


apeople employed in new enterprises


bemployees capable of manipulating data words and visual images


c psychologists with advanced degrees


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


View Answer John Maynard Keynes

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


aShift the demand curve


bShift the supply curve


cDo noting


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


b increase productivity


cincrease absenteeism


ddecrease productivity



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


a the GDP


bthe GNP


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


cwhich skills one has


d innate talent



The Great Depression_________________?


aresulted from the greed of the robber barons


bresulted from insufficient demand


cwas the worst case of massive unemployment


donly B and C


View Answer only B and C

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