Economics MCQs

A. Keynesians
B. Post-keynesians
C. Monetarists
D. New classical school

A. Production possibilities
B. Entitlement
C. Income distribution
D. Egalitarianism

A. Poverty rates
B. Food security index
C. Change in the quantity of food demanded per capita
D. Population growth

A. Market prices
B. Sticky prices
C. Fixed prices
D. Regulatory prices

A. Requires fine tuning to reach full employment
B. Can never deviate from full employment
C. Will never be at full employment
D. Is self-correcting.

A. Stagflation in the late 1970s
B. Demand-pull inflation in the 1960s
C. Low growth rates in the 1950s
D. The prolonged existence of high unemployment during the great depression

A. Laissez-faire.
B. Monetary policy
C. Fine tuning
D. Automatic stablisers

A. Slump
B. Inflation
C. Stagflation
D. Stagnation

A. Society’s system of entitlement
B. An egalitarian income distribution
C. Low poverty rates
D. Society’s high gini concentration

I- Government may set price floors on food and price ceilings for industrial goods
Ii- tax incentive and subsidies to infant industry
Iii- tariff and quota protection for industry
Iv- spending more for education training housing, health and transport in urban areas than in rural areas.