Economics MCQs

Page No. 95

If the GNP increases by 8% and prices increase by 3% the actual growth rate is_______________?


a11%


b 5%


c8%


d3%


View Answer 5%

When the government must pay for fighter planes based on commitments made five years previously the spending the spending is called________________?


adiscretionary


buncontrollable


cbalanced


dunavoidable


View Answer uncontrollable

Manipulation of taxation and spending levels is______________?


afiscal policy


bmonetary policy


cincomes


drevenue policy


View Answer fiscal policy

What is the Phillips curve ?


aa reference to a government economist favoring high taxes


ba special kind of screw driver that reflects the functioning of the economy


ca graphic representation of conflict between full employment and inflation


da deflationary curve



Engineers lawyer’s investment bankers’ top CEOs entertainers and so on are described as_____________?


anouveau riches


b generation x-ers


cbaby boomers


dsymbolic analysts


View Answer symbolic analysts

Economic policies do not work as well as they should because of obstacles posed by______________?


atiming


binterpretation


cimplementation


dall of the above


View Answer all of the above

During and after a depression the government can use fiscal policy through its powers of_____________?


aspending and taxation


bwage regulation


cincome ceilings


dbank regulation


View Answer spending and taxation

A demand-side theory that focuses on the role of money to finance aggregate demand is termed__________?


amonetarism


bReaganism


c the gold standard


dcash and carry


View Answer monetarism

The Keynesian revolution acknowledged_________________ ?


a that the masses were being exploited


bthat the market was inherently unstable


c the need for the intervention of the owners of the means of production


d that industrial workers were becoming the new bourgeoisie



One of the functions of public policy is to________________?


amediate among conflicting economic goals


bplan to ensure the correct mix of supply and demand


censure that everyone is a sinner in the economy


dnone of the above



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