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Principles of Economics MCQ

Principles of Economics

1. Deadweight loss is the decrease in ___ that results from an inefficient _ or ___.

Total surplus; market price; marginal cost

Producer surplus; overproduction; subsidy

Total surplus; underproduction; overproduction

Consumer surplus; underproduction; tax

Answer

Correct Answer: Total surplus; underproduction; overproduction

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

2. As the demand for goods and services increases, job growth _____.

Increases

Decreases

Remains the same

None of the above.

Answer

Correct Answer: Increases

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

3. Expansionary monetary policy refers to the ________ to increase real gdp.

Government's increasing spending and lowering taxes

Government's decreasing spending and raising taxes

Federal reserve's increasing the money supply and decreasing interest rates

Federal Reserve's decreasing the money supply and increasing interest rates

Answer

Correct Answer: Federal reserve's increasing the money supply and decreasing interest rates

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

4. A ______________________ means that government spending and taxes are equal.

Fiscal budget.

Balanced budget.

Contractionary fiscal policy.

Discretionary fiscal policy

Answer

Correct Answer: Balanced budget.

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

5. The vertical intercept of the consumption function equals __ and the slope equals _.

The mpc;autonomous consumption

Autonomous consumption;the mpc

The unplanned component of consumption;the planned component of consumption

The planned component of consumption;the unplanned component of consumption

Answer

Correct Answer: Autonomous consumption;the mpc

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

Economics MCQs | Topic-wise

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

Principles of Economics MCQ

1. Deadweight loss is the decrease in _____ that results from an inefficient _____ or _____.

2. As the demand for goods and services increases, job growth _____.

3. Expansionary monetary policy refers to the ________ to increase real gdp.

4. A ______________________ means that government spending and taxes are equal.

5. The vertical intercept of the consumption function equals ______ and the slope equals _____.

1. Deadweight loss is the decrease in ___ that results from an inefficient _ or ___.

5. The vertical intercept of the consumption function equals __ and the slope equals _.