Economics MCQs

A. Shift aggregate demand
B. Shift aggregate supply
C. Reduce the natural rate of unemployment
D. Increase the productivity of employees

A. The balance of trade
B. The rate of growth in an economy
C. The rate of price increase
D. Unemployment

A. 5.4 percent
B. 30.7 percent
C. You can’t tell without knowing the base year
D. 5.1 percent

A. Consumer production
B. Products purchased by the typical consumer
C. Raw materials purchased by firms
D. Total current production

A. Nominal wages have risen less than inflation
B. Nominal wages have risen at the same rate as inflation
C. Nominal wages have risen more than inflation
D. Nominal wages have risen less than unemployment

A. None of these answers
B. Workers will gain at the expense of firms
C. Neither workers nor firms will gain because the increase in wages in fixed in the labor agreement
D. Firms will gain at the expense of workers.

A. Reduce the cost of living
B. Reduce the standard of living
C. Reduce the price of products
D. Reduce the purchasing power of a rupee

A. Aggregate supply is perfectly elastic
B. Aggregate supply is perfectly inelastic
C. Aggregate supply is unit elastic
D. Aggregate supply is relatively elastic

A. An appreciation of the currency
B. A revaluation of the currency
C. A depreciation of the currency
D. Lower inflation abroad

A. 3/8 percent
B. 5 percent
C. 11 percent
D. 24 percent