Economics MCQs

A. The tragedy of commons
B. Sustainable development
C. Net primary productivity (npp)
D. The impossibility theorem

A. Monopoly
B. Entropy
C. Industry
D. Cartel

A. Over fishing
B. Smoking in a public place
C. Excessive rain
D. Common use of public toilets

A. Predatory dumping
B. Sporadic dumping
C. Persistent dumping
D. Yearend dumping

A. Average total cost
B. Average variable cost
C. Average fixed cost
D. Marginal cost

A. Import quota
B. Export quota
C. Selective quota
D. Global quota

A. General motors, the manufacturer of automobiles
B. Tennessee mining co. an iron-ore mining company
C. Caterpillar corp the producer of earth moving equipment
D. Sneva construction co. the builder of skyscrapers

A. Domestic subsidy
B. Voluntary restraint agreement
C. Domestic content requirement
D. Tariff-rate quota

A. Does not require government taxes to finance it
B. Yields the same deadweight welfare loss as an import tariff or import quota
C. Has only a consumption effect deadweight loss
D. Has only a protective effect deadweight loss

A. Never
B. Seldom
C. Often
D. Always