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Economics Mcqs

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 ?

Economics Mcqs, The Phillips Curve /
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 ?

A. is vertical
B. is negatively sloped
C. has a slope that is determined by how fast people adjust their price expectations
D. is positively sloped

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 ? Read More »

Economics Mcqs, The Phillips Curve

The Phillips curve is an extension of the model of aggregate supply and aggregate demand because, in the short run, an increase in aggregate demand increase price and ?

Economics Mcqs, The Phillips Curve /
The Phillips curve is an extension of the model of aggregate supply and aggregate demand because, in the short run, an increase in aggregate demand increase price and ?

A. decreases unemployment
B. decrease growth
C. increases unemployment
D. decreases inflation

The Phillips curve is an extension of the model of aggregate supply and aggregate demand because, in the short run, an increase in aggregate demand increase price and ? Read More »

Economics Mcqs, The Phillips Curve

The misery index Which some commentators suggest measures the health of the economy, is ?

Economics Mcqs, The Phillips Curve /
The misery index Which some commentators suggest measures the health of the economy, is ?

A. The sum of the growth rate of output and the inflation rate
B. The sum of the natural rate of unemployment and the actual rate of unemployment
C. The sum of the inflation rate and the central bank’s refinancing rate
D. The sum of the unemployment rate and the inflation rate

The misery index Which some commentators suggest measures the health of the economy, is ? Read More »

Economics Mcqs, The Phillips Curve

The essential difference between capitalism and socialism is that ?

Economics Mcqs, Theories of Economic Development /
The essential difference between capitalism and socialism is that ?

A. capitalism exploits the worker and socialism exploits the property owner
B. capitalism relies on the market to make economic decisions and socialism uses central planning
C. capitalism grows through rent seeking and socialism grows through government direction
D. capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction

The essential difference between capitalism and socialism is that ? Read More »

Economics Mcqs, Theories of Economic Development

What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America ?

Economics Mcqs, Theories of Economic Development /
What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America ?

A. monopolistic business from abroad
B. reactionary ruling coalitions
C. weak domestic middle class
D. All of the above

What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America ? Read More »

Economics Mcqs, Theories of Economic Development