Introduction to Economics MCQ
Introduction to Economics
1. In poor nations, poverty is________ than in the united states.
Answer
Correct Answer:
More widespread and severe
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2. Oil shale deposits ________.
Answer
Correct Answer:
Contain organic kerogen which can be processed into petroleum
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3. When assessing energy resources, it is helpful to use a measure called eroi, which is ________.
Answer
Correct Answer:
Energy returned divided by energy invested
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4. The year 2030 goal set by the us department of energy is to generate __________.
Answer
Correct Answer:
20% of electricity using wind-powered systems
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5. The oil spill resulting from the 2010 deepwater horizon disaster ________.
Answer
Correct Answer:
The worst oil spill in U.S. history, causing damage to marine and coastal ...
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6. The m2 money multiplier is ___________ the m1 multiplier.
Answer
Correct Answer:
Substantially larger than.
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7. Donna, vice president of finance, and bob, vice president of human resources, are _____ managers.
Answer
Correct Answer:
Functional
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8. Excess reserves are a bank's _____ reserves minus its _____ reserves.
Answer
Correct Answer:
Actual; desired
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9. A business-level strategy in which a company exploits economies of scale is called a ________.
Answer
Correct Answer:
Differentiation strategy.
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10. The term ________ refers to investors who anticipate increases in stock prices.
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11. But nearly all supply curves share a basic similarity: they slope _______________.
Answer
Correct Answer:
Up from left to right
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12. A convertible bond would let the investor exchange it for __________.
Answer
Correct Answer:
Common stock
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13. A demand or supply curve with ______________ would be horizontal in appearance.
Answer
Correct Answer:
Zero elasticity.
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14. As prosperity and economic development rise, _____ increases as well.
Answer
Correct Answer:
Individualism
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15. Federal agencies hold roughly _____ percent of all outstanding treasury bonds.
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16. A decrease in the tax on capital income ______ the real interest rate
Answer
Correct Answer:
Increase; increase
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17. ________________ economists place an emphasis on __________ run economic performance
Answer
Correct Answer:
Neoclassical; long
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18. When there is excess demand, there is _____.
Answer
Correct Answer:
Excess supply
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19. Renewable primary energy sources include all of the following except ________.
Answer
Correct Answer:
Natural gas
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20. Mine tailings contain ________, which harms fish and other aquatic organisms.
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21. The federal economic espionage act, passed in 1996, criminalizes ________.
Answer
Correct Answer:
The theft of trade secrets
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22. Effects attributed to chernobyl ________.
Answer
Correct Answer:
Increased incidence of thyroid cancers
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23. Modern market economies generally do not address ________.
Answer
Correct Answer:
Aesthetic and cultural value
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24. When comparing the dynamic response to an increase in demand _____.
Answer
Correct Answer:
Price will rise less rapidly with a quota compared to a similar tariff
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25. When a firm is producing a given output at the least possible cost, _______.
Answer
Correct Answer:
It is operating on the lowest point on its long-run average cost curve
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26. Total risk is measured by _____ and systematic risk is measured by _____.
Answer
Correct Answer:
Standard deviation; beta.
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27. The global economic cost associated with tobacco is _____ per year.
Answer
Correct Answer:
$1436 billion
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28. The __________ is the additional cost for the additional input factor.
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29. Today's international monetary system is considered to be a ________ system.
Answer
Correct Answer:
Managed float system.
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30. The term for a collection of website files stored on a web server is ____.
Answer
Correct Answer:
remote website
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Economics MCQs | Topic-wise
