Economics MCQs (Chapterwise Multiple Choice Questions)

If a monopoly or a monopolistic competitor raises their prices, the quantity demanded ____________.

Will expand

Stays the same

Will decline

Will decline in the short run

Answer & Explanation

Correct Answer: Will decline

Note: This Question is unanswered, help us to find answer for this one
If demand is inelastic, a price ________ causes ________ in total revenue.

Increase , decrease

Decrease , increase

A and b

None of these

Answer & Explanation

Correct Answer: Increase , decrease

Note: This Question is unanswered, help us to find answer for this one
The avc of producing four brownies is $ _________ .

2.50

0.70

0.30

0.075

Answer & Explanation

Correct Answer: 0.075

Note: This Question is unanswered, help us to find answer for this one
A decrease in ________ increases the money supply since it causes the ________ to rise.

Reserve requirements; monetary base

Reserve requirements; money multiplier

Margin requirements; monetary base

Margin requirements; money multiplier

Answer & Explanation

Correct Answer: Reserve requirements; money multiplier

Note: This Question is unanswered, help us to find answer for this one
The _________ measures how changes in a price affect the quantity of the product demanded.

Price elasticity of demand

Break-even analysis

Demand curve

Product curve

Answer & Explanation

Correct Answer: Price elasticity of demand

Note: This Question is unanswered, help us to find answer for this one
Pure competition has a ____________ number of producers.

Large

Small

Infinite

None of these

Answer & Explanation

Correct Answer: Large

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Opponents of rent control believe that it causes _____.

Economic efficiency

-equilibrium rents

-housing shortages

None of these

Answer & Explanation

Correct Answer: -housing shortages

Note: This Question is unanswered, help us to find answer for this one
A firm in perfect competition is a price taker because _______.

Charging a lower price than the market price is considered uncompetitive.

The market price is always the profit-maximizing price.

It is easier to take the price as given rather than calculate the profit-maximizing price.

It produces a tiny proportion of the total output of a particular good and buyers are well informed about the prices of other firms

Answer & Explanation

Correct Answer: It produces a tiny proportion of the total output of a particular good and buyers are well informed about the prices of other firms

Note: This Question is unanswered, help us to find answer for this one
In the classical monetary transmission mechanism any change in _______ will bring about ________.

Monetary policy is ineffective

Classical economists

M a direct proportionate change in P

The misperception that one is wealthier

Answer & Explanation

Correct Answer: M a direct proportionate change in P

Note: This Question is unanswered, help us to find answer for this one
In an inflationary period the money supply can be restrained by the fed _______________ securities.

Selling

Buying

Either

None of the above

Answer & Explanation

Correct Answer: Selling

Note: This Question is unanswered, help us to find answer for this one
Economics Quick Quiz

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Start Practicing with our MCQs given below.

MCQ on Agricultural Economics	MCQ on Basic Economics
MCQ on Behavioral Economics	MCQ on Consumer Economics
MCQ on Ecological Economics	MCQ on Econometrics
MCQ on Environmental Economics	MCQ on Ethical Economy
MCQ on Finance	MCQ on Information Economics
MCQ on International Economics	MCQ on Introduction to Economics
MCQ on Labor Economics	MCQ on Macroeconomics
MCQ on Managerial Economics	MCQ on Principles of Economics
MCQ on Public Economics	MCQ on demand economy
General Economics MCQs

Economics MCQ

Economics Quick Quiz

If a monopoly or a monopolistic competitor raises their prices, the quantity demanded ____________.

If demand is inelastic, a price causes in total revenue.

The avc of producing four brownies is $ _________ .

A decrease in increases the money supply since it causes the to rise.

The _________ measures how changes in a price affect the quantity of the product demanded.

Pure competition has a ____________ number of producers.

Opponents of rent control believe that it causes _____.

A firm in perfect competition is a price taker because _______.

In the classical monetary transmission mechanism any change in _ will bring about __.

In an inflationary period the money supply can be restrained by the fed _______________ securities.

Economics MCQ

Economics Quick Quiz

If a monopoly or a monopolistic competitor raises their prices, the quantity demanded ____________.

If demand is inelastic, a price ________ causes ________ in total revenue.

The avc of producing four brownies is $ _________ .

A decrease in ________ increases the money supply since it causes the ________ to rise.

The _________ measures how changes in a price affect the quantity of the product demanded.

Pure competition has a ____________ number of producers.

Opponents of rent control believe that it causes _____.

A firm in perfect competition is a price taker because _______.

In the classical monetary transmission mechanism any change in _______ will bring about ________.

In an inflationary period the money supply can be restrained by the fed _______________ securities.

If demand is inelastic, a price causes in total revenue.

A decrease in increases the money supply since it causes the to rise.

In the classical monetary transmission mechanism any change in _ will bring about __.