Finance & Economics MCQ
1. The world bank classifies countries' economic development according to ________.
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2. When doing research, economists _______
Answer
Correct Answer:
All of the above.
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3. The supply curve represents the _____ price at which a firm is willing to _____.
Answer
Correct Answer:
Minimum; sell various quantities of a good
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4. The difference between the ________ for a good and the ________ is called consumer surplus.
Answer
Correct Answer:
Highest price a consumer is willing to pay; price the consumer actually pays
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5. The amount of an increase in income is called the _________ income.
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6. The ________ apples will decrease when apple prices rise.
Answer
Correct Answer:
Quantity demanded of
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7. People employed by a seller or an auctioneer to make bids on behalf of the seller are called _____.
Answer
Correct Answer:
Shill bidders
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8. Moving ________ along the marginal cost curve, the ________.
Answer
Correct Answer:
Upward; opportunity cost of one more unit increases
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9. Money is ____________ when a customer repays a loan to a bank.
Answer
Correct Answer:
DESTROYED
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10. If the number of sellers decreases, then the supply curve ________ and the supply ________.
Answer
Correct Answer:
Shifts leftward; decreases
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11. If output is three units, then mr > mc > avc and output should be _________ .
Answer
Correct Answer:
Increased
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12. Human capital is the improvement in ________ created by ________.
Answer
Correct Answer:
Labor; education and knowledge
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13. An effective price ceiling is set ________ the market equilibrium price and results in a ________.
Answer
Correct Answer:
Below; shortage
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Financial Engineering MCQs | Topic-wise
