Business Economics MCQ Questions Answers

1. A claim that is consistent with the facts as we know them should be regarded as __________.

2. In a(n) _______ trend, the values change by a constant amount.

3. In many cases, it is reasonable to refer to the ________________ as the price

4. The current rate of unemployment of 9% is too high. this is a ________ statement.

5. The court decided in pierce v. society of sisters that an oregon public school law _____.

6. The cost that a firm pays in money to hire a resource is referred to as ________ cost.

7. Japan sells cars to the united states. japan considers the cars as japanese _____.

8. Income is a _______ variable, and financial wealth is a _______ variable.

9. In the performing stage of group development, members _____.

10. In the above figure, curve a is the ________ curve and curve b is the ________ curve.

11. In perfect competition, sellers have _____ control over price.

12. Other things constant, a higher price for corn tends to increase _____

13. Only a ________ shift of the ________ curve can reduce unemployment and inflation at the same time.

14. The elasticity of supply of roses is 1.8. in the market for roses, ________________.

15. In the figure above, this product is price ___________ between point e and point f.

16. A firm operating in an oligopolistic market has __________ market power compared to a __________.

17. A depository institution takes deposits from ______ and earns most of its income by _______.

18. The short-run version of aggregate supply assumes that product prices are _____.

19. The restaurant industry is characterized by a ______________ barrier to entry.

20. One can determine producers surplus if the minimum selling price and the _____________ are known.

21. On the diagram shown above, a movement from a to c represents __________.

22. Neoclassical growth theory does not emphasize how __________ contribute to growth.

23. Negative television ads __________.

24. Moving ________ along the marginal cost curve, the ________.

25. Motivation is not ________.

26. Members of the european parliament are _______.

27. Medicare part c is a ___________ option known as medicare advantage.

28. Marxist economics led to the creation of a communist state in ____________ .

29. An economic agent ________ when he accounts for the full costs and benefits of his actions.

30. A third-degree price-discriminating pure monopoly will follow a system where _____.

31. A tariff has the effect of granting ____ a larger share of the domestic market.

32. A supply curve for the car industry would show the quantity of cars supplied at different _____.

33. A successful photographers main area of interest would be _____.

34. A security dilemma occurs when __________.

35. A rise in the price of sawdust _______.

36. A prolonged period of budget deficits may lead to ___________________.

37. A profit-maximizing monopoly never produces output in the _______ range of its _______ curve.

38. A payment is said to be ________________ if it is automatically adjusted for inflation.

39. A nation's prosperity is sometimes measured in terms of ___________.

40. In terms of packaging functions, tiffany & co.'s robin egg blue boxes ________.

41. In the short run, a monopolistically competitive firm ______.

42. Built-in (or automatic) stabilizers work by changing ______ so that changes in gdp are reduced.

43. The introduction of diet coke by the coca-cola company is an example of ________.

44. The time lag for monetary policy is typically ________________ the time lag for fiscal policy.

45. The pygmalion effect is also called the ________ effect.

46. A flexible exchange rate is one that _______. it works _______.

47. ____ does not represent a line of credit.

48. Other factors constant, a change in _____ will cause a shift in a firms demand curve.

49. Economist thomas malthus believed that ______________ would limit economic progress.

50. An exchange rate of ?117.87/$ indicates ________.

51. _____ is rival and _____ is nonrival.

52. Prestige pricing is considered to be a __________ approach to pricing.

53. To encourage purchases of additional products, manufacturers provide ______________ coupons.

54. Employers should have at least _____ to be covered by the osha.

55. Employee benefits ______.

56. Economic growth is a _____ in the nation's production of goods and services.

57. ______ of traffic fatalities occur within 25 miles of home and below 40 mph.

58. Medicines are a good way to treat health issues because __________.

59. Americans average _______ calories of foods with no important nutrients per day.

60. _______ health insurance coverage pays for at least part of hospital costs and fees

61. Joseph took a class in macroeconomics, which means that he was studying the behavior of ________.

62. The multiplier factor is given by 1 divided by the ________ or similarly 1 divided by 1-mpc.

63. Keynes argued for ______________ government spending in a recession to increase ad (shift right).

64. The demand for dvd players does not change when a change in _______ occurs.

65. The _____________ firm's demand curve is the same as the market demand for the product.

66. Raw materials are an example of a firm's ____ costs.

67. Data collected at the same, or approximately the same, point in time are _____ data.

68. The term ______ refers to the economic situation in which a few firms dominate an industry.

69. The amount of the ____________ effect will depend on the type of fiscal policy created.

70. Supply is provided by ____________ and demand is created by consumers.

71. Monopolies result in a(n) __________ level of output and provide __________ choice to consumers.

72. Money functions as a _______________ when it is used to make purchases.

73. Making a decision at the margin is possible only in situations where _____.

74. If the ___________ for automobiles is __________ then automobiles are an inferior good .

75. If people decide to purchase more at every price level, __________ (shift right) will result.

76. If marginal cost equals price, then _____ is at a maximum.

77. Despite federal laws that prohibit wage discrimination, men and women often still receive _____.

78. ________ information is information that directly pertains both to the context and to the subject.

79. Advertising is ________ promotion through media outlets.

80. _____ costs do not change as output is increased or decreased.

81. The term demand chain is considered limited because it ________.

82. The marginal propensity to import is equal to _______.

83. Marginal decisions are said to be made on the ________ unit(s) under consideration.

84. For any given product, _____ is determined by what the market will bear.

85. Corporate social responsibility is mainly concerned with how a company affects the ________.

86. According to the job characteristics model, autonomy is defined as the degree to which ________.

87. A state might hold a primary instead of a caucus because a primary is ________.

88. A marketer focuses on a product's ________.

89. ________ can describe a product class, a product form, or a brand.

90. When the total fixed costs increase, the breakeven point ________.

91. When the sales price per unit decreases, the breakeven point ________.

92. Buying an existing business _____.

93. Businesses use _____ to develop leadership skills within the company.

94. A price ceiling creates ________ when it is set ________ the equilibrium price.

95. A raise in the price of a product causes _____.

96. A consumer uses goods and services to _____.

97. Barter ______ a means of payment. when trading on e-bay, barter _______.

98. We use a time-series graph to show ______.

99. Balance of payments is a ____ concept than balance of trade.

100. Economies experience capital deepening when they have _________. select all answers that apply.