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The Department of Health and Human Services has summarized the “correct” mix of goods and services through ?

August 5, 2021June 26, 2019 by QuizMaster
The Department of Health and Human Services has summarized the “correct” mix of goods and services through ?

A. “market basket of goods
B. the consumer price index
C. 165 social indicators
D. the externalities index

Categories Miscellaneous Economics Mcqs

Need and demand________________?

August 5, 2021June 26, 2019 by QuizMaster
Need and demand________________?

A. are unrelated concepts
B. amount to the same thing
C. are closely related to price
D. are closely related to supply

Categories Miscellaneous Economics Mcqs

Income received by households that is not returned to firms is called_______________?

August 5, 2021June 26, 2019 by QuizMaster
Income received by households that is not returned to firms is called_______________?

A. dissaving’s
B. withdrawals
C. incremental
D. injections

Categories Miscellaneous Economics Mcqs

In microeconomics the household is defined as_______________?

August 5, 2021June 26, 2019 by QuizMaster
In microeconomics the household is defined as_______________?

A. the nuclear family
B. the extended family
C. everyone who lives under one roof
D. all of the above

Categories Miscellaneous Economics Mcqs

Exceptions to the circular flow are__________________?

August 5, 2021June 26, 2019 by QuizMaster
Exceptions to the circular flow are__________________?

A. incidentals
B. withdrawals
C. injections
D. B and C only

Categories Miscellaneous Economics Mcqs

Adequate growth of the economy refers to the goals of__________________?

August 5, 2021June 26, 2019 by QuizMaster
Adequate growth of the economy refers to the goals of__________________?

A. maintaining current standards of living in spite of increasing population
B. increasing GNP per capita
C. approximately 4% growth rate per year
D. all of the above

Categories Miscellaneous Economics Mcqs

Liberals and conservatives agree to some extent that economic goals should include________________?

August 5, 2021June 26, 2019 by QuizMaster
Liberals and conservatives agree to some extent that economic goals should include________________?

A. full employment
B. price stability
C. adequate economic growth
D. all of the above

Categories Miscellaneous Economics Mcqs

A problem with laissez-faire economic policy is that there is___________________?

August 5, 2021June 26, 2019 by QuizMaster
A problem with laissez-faire economic policy is that there is___________________?

A. no flexibility
B. no provision for public goods
C. no profit motives
D. responsiveness to demand

Categories Miscellaneous Economics Mcqs

Demand and supply are________________?

August 5, 2021June 26, 2019 by QuizMaster
Demand and supply are________________?

A. market forces
B. key economic indicators
C. thesis and antithesis
D. causes of inflation

Categories Miscellaneous Economics Mcqs

Some of the advantages of a market economy include ?

August 5, 2021June 26, 2019 by QuizMaster
Some of the advantages of a market economy include ?

A. all participants get some satisfaction
B. scarce resources are put into goods that are in demand
C. economic output is distributed to those who can pay the price
D. all of the above

Categories Miscellaneous Economics Mcqs
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