Economics Mcqs

A. the business cycle has been eliminated
B. an increase in inflation temporarily increases unemployment.
C. inflation and unemployment are unrelated in the short run.
D. a decrease in inflation temporarily increases unemployment.
E. none of these

A. the countries of Western Europe have set high minimum wage rates.
B. Unions in Western Europe keep the wage high
C. none of these answers.
D. The countries of Western Europe have protected their industries from foreign corporation
E. Workers in the united states are highly productive

A. Subaru’s impact on the price f cars
B. a farmer’s impact on the price of corn
C. Microsoft’s impact on the price of desktop operating systems
D. a student’s impact on college tuition

A. A student eats a hamburger in the student union.
B. A student reads a novel for pleasure
C. A student sits at home and watches T.V
D. A student has a party in her room in the student hall of residence.

A. increase the scarcity of resources.
B. makes a country more equitable.
C. allows a country to have a greater variety of products at a lower cost than if it tried to produce everything to home.
D. None of these

A. reduces market power
B. Proves that there is such a thing as a free lunch
C. improves efficiency at the expense of equity.
D. improves equity at the expense of efficiency.

A. Taking a nap
B. All of these answers involve trade-offs
C. Watching a football game on Saturday afternoon
D. Going to university

A. Consumers
B. voters
C. government
D. Workers

A. Wages and salaries.
B. income and money
C. goods and services.
firms and households

A. capital consumption frontier.
B. Lorenz curve.
C. Circular-flow diagram.
D. Production possibility curve.