Economics - Miscellaneous
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- Answered
- Review
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Question 1 of 131
1. Question
If an economy is productively efficient
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Question 2 of 131
2. Question
Economic growth can be shown by:
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Question 3 of 131
3. Question
As resources are shifted from one industry to another this can be shown by:
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Question 4 of 131
4. Question
In a free market the combination of products produced will be determined by:
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Question 5 of 131
5. Question
If an economy moves from producing 10 units of A and 4 units of B to producing 7 As and 5Bs The opportunity cost of the 5th B is:
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Question 6 of 131
6. Question
An economy may operate outside the production possibility Frontier if:
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Question 7 of 131
7. Question
The resources in the economy do not include
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Question 8 of 131
8. Question
The resources in an economy are:
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Question 9 of 131
9. Question
Any combination of products inside the production possibility frontier is:
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Question 10 of 131
10. Question
An outward shift of the production possibility frontier may be caused by:
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Question 11 of 131
11. Question
Which of the following is true?
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Question 12 of 131
12. Question
According the law of diminishing returns:
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Question 13 of 131
13. Question
The law of diminishing returns assumes:
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Question 14 of 131
14. Question
When internal economies of scale occur:
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Question 15 of 131
15. Question
The first level of output at which the long run average cost are minimised is called
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Question 16 of 131
16. Question
The average variable cost curve:
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Question 17 of 131
17. Question
If marginal cost is positive and falling:
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Question 18 of 131
18. Question
Total increases from Rs500 to Rs600 when output increases from 20 to 30 units. Fixed costs are Rs200 Which of the following is true?
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Question 19 of 131
19. Question
Total increase from Rs500 to Rs600 When output increases from 20 to 30 units Fixed costs are Rs200 Which of the following is true?
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Question 20 of 131
20. Question
If marginal product is below average product:
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Question 21 of 131
21. Question
If the marginal revenue is less than the marginal cost then to profit maximise a firm should:
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Question 22 of 131
22. Question
If the price is less than the average costs but higher than the average variable costs:
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Question 23 of 131
23. Question
If firms earn normal profits:
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Question 24 of 131
24. Question
In the long term a firm will produce provided the revenue covers:
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Question 25 of 131
25. Question
In the short term a firm will produce provided the revenue:
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Question 26 of 131
26. Question
The profit per sale is a measure of:
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Question 27 of 131
27. Question
The total costs are Rs2000 and 10 units are produced. The marginal cost of an 11th unit is Rs1300 Which of the following is true?
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Question 28 of 131
28. Question
Total revenue equals:
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Question 29 of 131
29. Question
If marginal revenue equals marginal cost
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Question 30 of 131
30. Question
Price equals:
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Question 31 of 131
31. Question
Barriers to entry:
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Question 32 of 131
32. Question
Which best describes price discrimination?
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Question 33 of 131
33. Question
For a firm operating in two markets and price discriminating the profit maximising condition is:
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Question 34 of 131
34. Question
If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge:
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Question 35 of 131
35. Question
In perfect price discrimination:
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Question 36 of 131
36. Question
A benefit to consumers of price discrimination is that:
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Question 37 of 131
37. Question
In perfect price discrimination:
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Question 38 of 131
38. Question
In Price discrimination abnormal profits are made if:
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Question 39 of 131
39. Question
Barriers to entry:
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Question 40 of 131
40. Question
If the price elasticity is -0.3 this means:
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Question 41 of 131
41. Question
To maximise sales revenue a firm should produce where:
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Question 42 of 131
42. Question
To maximise growth without making a loss a firm should produce the highest output where
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Question 43 of 131
43. Question
Profit is measured by:
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Question 44 of 131
44. Question
When marginal revenue equals marginal cost:
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Question 45 of 131
45. Question
To be allocatively efficient a firm must produce where:
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Question 46 of 131
46. Question
To be Productively efficient a firm must produce where:
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Question 47 of 131
47. Question
Normal profit occurs when:
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Question 48 of 131
48. Question
If the marginal revenue is Positive:
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Question 49 of 131
49. Question
Companies in the private sector are owned by:
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Question 50 of 131
50. Question
An independent assessment of the impact of firm’s activities on society is called a:
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Question 51 of 131
51. Question
An increase in national income is:
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Question 52 of 131
52. Question
Injections:
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Question 53 of 131
53. Question
An increase in national income is likely to:
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Question 54 of 131
54. Question
A significant increase in the government budget deficit is likely to:
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Question 55 of 131
55. Question
If injections are greater than withdrawals
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Question 56 of 131
56. Question
Injections are:
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Question 57 of 131
57. Question
For equilibrium in an open four sector economy:
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Question 58 of 131
58. Question
A deflationary policy could include:
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Question 59 of 131
59. Question
A reflationary policy:
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Question 60 of 131
60. Question
Which of the following is an injection into the economy?
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Question 61 of 131
61. Question
Economic growth can be measured by:
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Question 62 of 131
62. Question
In a boom:
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Question 63 of 131
63. Question
In a recession, GDP:
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Question 64 of 131
64. Question
If labour productivity per week is 200 units and there are 5 employees what is the total output?
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Question 65 of 131
65. Question
Labour Productivity measures:
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Question 66 of 131
66. Question
Potential growth measures:
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Question 67 of 131
67. Question
Economic growth can be seen by an outward shift of:
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Question 68 of 131
68. Question
The socially optimal rate of growth is:
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Question 69 of 131
69. Question
If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 the marginal propensity to consume is what?
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Question 70 of 131
70. Question
To anticipate what the economy is going to do next the government will look at:
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Question 71 of 131
71. Question
When an economy first begins to grow more slowly:
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Question 72 of 131
72. Question
If the marginal propensity to consume on domestic products is 0.9 the size of the multiplier is:
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Question 73 of 131
73. Question
An increase in the marginal propensity to consume will:
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Question 74 of 131
74. Question
If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 total consumption is what?
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Question 75 of 131
75. Question
If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 the average propensity to consume is what?
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Question 76 of 131
76. Question
As income increase:
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Question 77 of 131
77. Question
An increase in consumption at any given level of income is likely to lead to:
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Question 78 of 131
78. Question
Lower interest rates are likely to:
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Question 79 of 131
79. Question
Friedman’s theory of consumption focuses on:
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Question 80 of 131
80. Question
The marginal propensity to consume is equal to:
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Question 81 of 131
81. Question
An increase in investment is most likely to be caused by:
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Question 82 of 131
82. Question
An outward shift in the Marginal Efficiency of Capital should:
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Question 83 of 131
83. Question
An increase in interest rates:
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Question 84 of 131
84. Question
The accelerator assumes:
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Question 85 of 131
85. Question
Investment depends mainly on:
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Question 86 of 131
86. Question
A profit maximising firm will invest up to the level of investment where:
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Question 87 of 131
87. Question
Investment is:
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Question 88 of 131
88. Question
Investment is a unstable element of aggregate demand because it depends heavily on:
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Question 89 of 131
89. Question
If an increase in investment leads to a bigger increase in national income this called the:
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Question 90 of 131
90. Question
The difference between goes investment and net investment is:
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Question 91 of 131
91. Question
The precautionary demand for money is:
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Question 92 of 131
92. Question
The liquidity trap occurs when the demand for money:
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Question 93 of 131
93. Question
A fall in interest rates is likely to:
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Question 94 of 131
94. Question
According to the quantity theory of money an increase in the money supply is most likely to lead to inflation if:
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Question 95 of 131
95. Question
A reduction in the money supply is likely to:
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Question 96 of 131
96. Question
To reduce the supply of money the government could:
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Question 97 of 131
97. Question
The speculative demand for money occurs when:
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Question 98 of 131
98. Question
An outward shift in the demand for money other things being equals should lead to:
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Question 99 of 131
99. Question
Open Market Operations occur when the government
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Question 100 of 131
100. Question
The total quantity of goods and services produced (or supplied) in an economy in a given period is:
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Question 101 of 131
101. Question
A variable whose value is determined by the model of which it is a part is termed:
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Question 102 of 131
102. Question
In the equation C = a + bY, which describes the aggregate consumption function ‘b’ stands for?
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Question 103 of 131
103. Question
The fraction of change in income that is consumed or spend is called:
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Question 104 of 131
104. Question
Disposable income is the part of households income left after the deduction of:
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Question 105 of 131
105. Question
Keynes suggested that decisions to consume and save were based on:
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Question 106 of 131
106. Question
The marginal propensity to save (MPS) is:
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Question 107 of 131
107. Question
As the MPS increases the multiplier will:
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Question 108 of 131
108. Question
The proportion of an increase in national income paid in tax is:
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Question 109 of 131
109. Question
The marginal propensity to withdraw is:
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Question 110 of 131
110. Question
In macroeconomics, equilibrium is defined as that point at which:
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Question 111 of 131
111. Question
The ratio of change in the equilibrium level of output to a change in some autonomous variable is the:
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Question 112 of 131
112. Question
Assuming there is no government or foreign sector, if the MPC is 8 the multiplier is:
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Question 113 of 131
113. Question
Assuming there is no government or foreign sector, if the multiplier is 2.5 the MPC is:
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Question 114 of 131
114. Question
Assuming there is no government or foreign sector the formula for the multiplier is:
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Question 115 of 131
115. Question
Assume there is no government or foreign setor, If the MPC is 75 a Rs20 million decrease in planned investment will cause aggregate output to decrease by:
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Question 116 of 131
116. Question
According to the paradox of thrift increased efforts to save will cause:
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Question 117 of 131
117. Question
If injections are less than withdrawals at the full-employment level of national income, there is:
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Question 118 of 131
118. Question
The accelerator theory of investment says that induced investment is determined by:
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Question 119 of 131
119. Question
In Which of the business cycle do firms try to cut stocks in order to save costs?
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Question 120 of 131
120. Question
A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work save and invest these economists are:
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Question 121 of 131
121. Question
Which of the following would be considered a supply-side policy?
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Question 122 of 131
122. Question
According to supply-side economists if taxes are cut so that people have an increased incentive to work and businesses have an increased incentive to invest:
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Question 123 of 131
123. Question
According to supply side economists as tax rates are reduced labour supply should increase. This implies that:
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Question 124 of 131
124. Question
According to the Laffer curve as tax rates increase tax revenue
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Question 125 of 131
125. Question
Reaganomics was a radical shift in Policy aimed at direct tackling
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Question 126 of 131
126. Question
New classical economists advocate reducing welfare payments to people who are unemployed or single parents. The economic reasoning uses was that this would:
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Question 127 of 131
127. Question
Privatisation is the transfer out:
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Question 128 of 131
128. Question
The PFI aims to deliver public projects and services using:
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Question 129 of 131
129. Question
Which of the following statements supports deregulation of industries?
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Question 130 of 131
130. Question
A way of helping depressed regions by having lower wages, lower local taxes and lower unemployment benefit has been suggested as:
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Question 131 of 131
131. Question
A way of helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as:
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