Introduction to Economics MCQs
Introduction to Economics MCQs
Try to answer these 30 Introduction to Economics MCQs and check your understanding of the Introduction to Economics subject. Scroll down and let's begin!
1: The term for a collection of website files stored on a web server is ____.
A. active website
B. local website
C. remote website
D. plug-in website
2: Today's international monetary system is considered to be a ________ system.
A. Fixed system.
B. Managed float system.
C. Floating system.
D. Mixed system
3: The __________ is the additional cost for the additional input factor.
A. More
B. Substitution
C. True
D. Mfc
4: The global economic cost associated with tobacco is _____ per year.
A. $1436 billion
B. $1346 billion
C. $1246 billion
D. $1966 billion
5: Total risk is measured by _____ and systematic risk is measured by _____.
A. Beta; alpha.
B. Beta; standard deviation.
C. Alpha; beta.
D. Standard deviation; beta.
E. Standard deviation; variance
6: When a firm is producing a given output at the least possible cost, _______.
A. It has no incentive to increase production
B. It is operating on the lowest point on its long-run average cost curve
C. It is operating on its long-run average cost curve
D. It is operating on the downward-sloping portion of its long-run average cost curve
7: When comparing the dynamic response to an increase in demand _____.
A. Price will rise less rapidly with a quota compared to a similar tariff
B. Price will rise more rapidly with a quota compared to a similar tariff
C. Price will rise the same with a quota compared to a similar tariff
D. Price will only increase with a tariff
8: Modern market economies generally do not address ________.
A. Cost-benefit analysis
B. Market value of goods
C. GDP
D. Aesthetic and cultural value
9: Effects attributed to chernobyl ________.
A. Serious respiratory illnesses but no fatalities
B. Were contained within the Ukraine
C. Increased incidence of thyroid cancers
D. Have not been extensively documented
10: The federal economic espionage act, passed in 1996, criminalizes ________.
A. Utility patent violations
B. Trademark violations
C. Design patent violations
D. The theft of trade secrets
11: Mine tailings contain ________, which harms fish and other aquatic organisms.
A. Solar power
B. Wind power
C. Sulfide
D. Natural gas
12: Renewable primary energy sources include all of the following except ________.
A. Biomass
B. Natural gas
C. Sunlight
D. Wind
13: When there is excess demand, there is _____.
A. Excess supply
B. Disequilibrium
C. A price floor
D. An equilibrium
14: ________________ economists place an emphasis on __________ run economic performance
A. Phillips; short
B. Keynesian; long
C. Neoclassical; long
D. Says; short
15: A decrease in the tax on capital income ______ the real interest rate
A. Increase; increase
B. Increase; not change
C. Increase; decrease
D. Decrease; increase
16: Federal agencies hold roughly _____ percent of all outstanding treasury bonds.
A. 16
B. 24
C. 30
D. 40
17: As prosperity and economic development rise, _____ increases as well.
A. Individualism
B. Value
C. Values
D. Respect.
18: A demand or supply curve with ______________ would be horizontal in appearance.
A. Unitary elasticity.
B. Zero elasticity.
C. Infinite elasticity.
19: A convertible bond would let the investor exchange it for __________.
A. Stocks
B. Common stock
C. A round lot.
D. 30 stocks
20: But nearly all supply curves share a basic similarity: they slope _______________.
A. Up from left to right
B. Up from right to left
C. Down from left to right
D. Down from right to left
21: The term ________ refers to investors who anticipate increases in stock prices.
A. Bulls
B. Common stock
C. Debenture
D. Preferred stock
E. Bonds
22: A business-level strategy in which a company exploits economies of scale is called a ________.
A. Increasing production
B. Differentiation strategy.
C. Stability strategy
23: Excess reserves are a bank's _____ reserves minus its _____ reserves.
A. Actual; desired
B. Rises; appreciates
C. Money; monetary base
D. Currency; deposits
24: Donna, vice president of finance, and bob, vice president of human resources, are _____ managers.
A. Conceptual
B. Disseminator
C. Functional
D. Commonweal
25: The m2 money multiplier is ___________ the m1 multiplier.
A. Substantially larger than.
B. Not much different than.
C. Substantially smaller than
D. Twice as large as
26: The oil spill resulting from the 2010 deepwater horizon disaster ________.
A. The worst oil spill in U.S. history, causing damage to marine and coastal ...
B. Primary component is octane
C. Produces less greenhouse gases per energy unit than coal or oil
D. Discovered by Bunsen in 1885
27: The year 2030 goal set by the us department of energy is to generate __________.
A. 20% of electricity using wind-powered systems
B. Hydroelectric power
C. They are diffuse and intermittent
D. Triple paned windows
28: When assessing energy resources, it is helpful to use a measure called eroi, which is ________.
A. Money invested in extraction and processing minus money in sales
B. Amount of energy invested minus heat released into the environment
C. Energy returned divided by energy invested
D. Energy returned minus energy invested
E. Energy returned plus energy invested
29: Oil shale deposits ________.
A. Can be pumped from underground reservoirs like conventional crude oil
B. Are only a tiny fraction of the U.S. and Canadian potential oil reserves
C. Contain organic kerogen which can be processed into petroleum
D. Have been too expensive to extract and use as energy resources
E. Are concentrated in the Middle East
30: In poor nations, poverty is________ than in the united states.
A. Population increase is highest
B. More widespread and severe
C. Latin America
D. High-income countries
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Introduction to Economics MCQs
