Economics Mcqs

Oligopoly means:___________?

A. Business by rich people
B. Monopoly shared by few large sellers
C. Just one supplier of an item
D. None of the above

Which indicator/s is/are used in the Human Development Index(HDI)?

A. Standard of Living
B. Life Expectancy
C. Education
D. All

Country with the largest GNP (Gross National Product) is:________?

A. China
B. Germany
C. Japan
D. United States

The Book “An Inquiry into the Nature and Causes of the Wealth of Nations” is written by

A. Adam Smith
B. David Ricardo
C. Malthus
D. J. M. Keynes

philosopher Adam Smith published An Inquiry into the Nature and Causes of the Wealth of Nations. There was, of course, economics before Smith: the Greeks made significant contributions, as did the medieval scholastics, and from the 15th to the 18th century an enormous amount of pamphlet literature discussed and

Adam Smith was __________?

A. An Economist
B. A scientist
C. A philosopher
D. None of these

“Seigniorage” is a source of revenue for central banks earned from_____________?

A. Issuance of Debt securities
B. Issuance of notes and coins
C. Dollar Reserves
D. All of above

If price consumption curve will be horizontal on x-axes then elasticity of demand will be:___________?A. Equal to 1
B. Greater than 1
C. Less than 1
D. Equal to 0

 

Who among the following has first to coined the term “Helicopter Money”?

A. Milton-Friedman
B. Osborne-Smith
C. Zelvey
D. Mickel-Jorden

The name “helicopter money” was first coined by Milton Friedman in 1969, when he wrote a parable of dropg money from a helicopter to illustrate the effects of monetary expansion. The concept was revived by economists as a monetary policy proposal in the early 2000s following Japan’s Lost Decade.