Economics MCQs

A. New classical economists
B. Left-wing theorists
C. Interventionist policies
D. Monetarists

A. There is no income effect when tax rates are changed
B. The income effect of a wage change is greater than the substitution effect of a wage change.
C. There is no substitution effect when tax rates are changed
D. The substitution effect of a wage change is greater than the income effect of a wage change

A. The charities economy
B. The demand side of the country
C. The underground economy
D. The supply side of the economy

A. An inflationary gap
B. Hysteresis
C. A deflationary gap
D. Hyperinflation

A. The upturn
B. The peeking out
C. The expansion
D. The recession

A. An increase in the minimum wage that would cause consumer spending to increase
B. Investment tax credits for businesses to encourage investment
C. Restrictions placed on the amount that can be imported
D. An increased in government spending that would lead to increased aggregate demand

A. 1/investment multiplier
B. 1-(1/injections multiplier
C. Mps + mpt + mpm
D. The proportion of national income that is withdraw from the circular flow of income

A. Automatic stabiliser
B. Multiplier
C. Elasticity coefficient
D. Marginal propensity of the autonomous variable

A. 4
B. 25
C. 6
D. 2.5

A. Rs80 million
B. Rs20 million
C. Rs 15 million
D. Rs26.67 million