Economics Mcqs
This set of General Line Subjects Multiple Choice Questions and Answers (MCQs) focuses on “ Economics ”.These MCQS are chosen from a collection of most authoritative and best reference books on Economics and recent past Exams and Papers . Our aim is to prepare an individual for competitive exams like like CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other specialized departmental exam. One should practice our MCQS to assimilate Economics Subject comprehensively.
2. Large payment to senior employee who is forced into retirement is called ?
Golden bonus
Golden shake hand
Friendly handshake
Golden handshake
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3. The largest group to Which a person belongs is______________?
triad
family
primary
society
4. If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?
is vertical
is negatively sloped
has a slope that is determined by how fast people adjust their price expectations
is positively sloped
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5. If both marginal cost and marginal revenue increase, a firm ?
Should increase output
Should reduce output
will require further information on how to respond
Should not change output
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7. In Western Europe in 9th C, originated military and social system in which a nobleman would grant the use of land to servant in return for service which is often military, and duty, Name the system ?
Military system
Land based system
Feudal system
Rural system
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8. Which of the following is not true about how people make decisions ?
people give too much weight to a small number of vivid observations
People are sometimes too sure of their own abilities
All of these answers are actually true statements about how people make decisions.
People are always rational maximizers
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9. Which of the following is a withdraw from the circular flow income stream ?
Investment
Subsidies
Taxation
Consumption
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10. Which of the following is not a characteristic of a monopolistically competitive market ?
free entry and exit
long run economic profits
many sellers
differentiated products
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11. Social scientists explain the incest taboo as_______________?
biologically programmed
a religious universal
way of reducing family conflict
all of the above
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12. What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?
The ceteris paribus effect
The diminishing marginal utility effect.
The substitution effect
The income effect
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13. The policy that has been the most successful in increasing agricultural output in developing countries is ?
mechanization
land reform
import substitution
produce marketing boards
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14. An increase in national income is ?
Likely in increase exports
Likely to decrease savings
Likely to decrease investment
Likely to increase spending on imports
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15. The favorable evaluation of presidents is based on______________?
the caretaker role
strict adherence to the written Constitution
dynamic political leadership
the teflon principle
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16. Which term is used for the value imprinted on a security ?
Real value
Net value
Par value
Gross value
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