miscellaneous MCQs – Page 65

Practise focused miscellaneous questions with marked answers for exam preparation and subject revision.

miscellaneous Mcqs
1281. Which of the following is an example of a culture complex ?
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A. a football

B. team uniforms

C. goal posts

D. playing football
1282. In a boom ?
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A. Imports are likely to grow

B. Prices are likely to fall

C. Demand is likely to fall

D. Unemployment is likely to fall
1283. 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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A. reduce poverty

B. help small businesses

C. reduce unemployment

D. weaken the power of trade unions

1284. The speculative demand for money occurs when ?
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A. Individuals hold money to buy things

B. Individuals hold money to shop

C. Individuals hold money just in case an emergency happens

D. Individuals hold money rather than other assets because they are worried about the price of the other assets falling

1285. In the United States___________________?
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A. people value and believe what they please because its a free country

B. values norms and beliefs are unimportant

C. values norms and beliefs are always in agreement

D. values norms and beliefs are often in conflict
1286. Biological factors which make the development of culture possible include ?
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A. all of the above

B. opposable thumb

C. erect walking posture

D. vision in depth

1287. For equilibrium in an open four sector economy ?
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A. Actual injections = actual withdrawals

B. Savings = investment

C. Planned injections = planned withdrawals

D. Government spending = tax revenue

1288. 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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A. Average cost rises

B. Marginal cost is Rs20

C. Variable cost rises by Rs200

D. Average fixed cost was Rs10originally

1289. For a firm operating in two markets and price discriminating the profit maximising condition is ?
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A. Marginal revenue in A = Marginal revenue B = Average cost

B. Marginal revenue in A = Marginal revenue B = Marginal cost

C. Marginal revenue in A= Price B

D. Marginal revenue in A = Marginal revenue B = Price A = Price B
1290. Pivotal institutions_________________?
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A. include government the economy education the family and religion

B. differ in traits and culture complexes from society to society

C. arise from fundamental human needs

D. all of the above
1291. An increase in consumption at any given level of income is likely to lead to ?
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A. An increase in exports

B. A fall in taxation revenue

C. A decrease in import spending

D. A fall is savings

1292. If the price elasticity is -0.3 this means ?
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A. A price fall would increase revenue

B. Demand is upward sloping

C. Demand is price inelastic

D. Demand is price elastic

1293. Which of the following statements supports deregulation of industries ?
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A. All of the above

B. Because few real natural monopolies exist there is rarely a reason for government regulation

C. Many instances of government regulation have succeeded in reducing competition in industries where competition may be beneficial

D. Technological change has made it possible for many industries to become more competitive

1294. When an economy first begins to grow more slowly ?
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A. Stock levels are likely to increase

B. GDP increase

C. Inflation is likely to increase

D. Investment in equipment is likely to increase

1295. Economic growth can be seen by an outward shift of ?
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A. The Minimum Efficient Scale

B. The Marginal Consumption Frontier

C. The Gross Domestic Barrier

D. The Production Possibility Frontier

1296. Price equals ?
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A. Total revenue / quantity sold

B. Total revenue / total cost

C. Total quantity sold quantity sold

D. Total revenue quantity

1297. Profit is measured by ?
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A. Revenue total costs

B. Fixed cost + revenue

C. Revenue sales

D. Revenue fixed costs

1298. When marginal revenue equals marginal cost ?
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A. Total revenue equals total cost

B. There is the biggest positive difference between total revenue and total cost

C. There is the biggest negative difference between total revenue and total cost

D. Profits are Zero

1299. Industrial Revolution__________________?
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A. created a class of industrial workers

B. made all social classes equal

C. none of the above

D. eliminated social classes

1300. Which of the following is an example of material culture ?
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A. competition is good for you

B. A football games

C. The football itself

D. The NFL rules