Economics Mcqs

Oligopoly means:___________? A. Business by rich peopleB. 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. EducationD. All

Country with the largest GNP (Gross National Product) is:________? A. China B. Germany C. JapanD. 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…

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 securitiesB. 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…