Economics MCQs

A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above

A. 20%
B. 2%
C. 12%
D. 16%

A. They suggest relationships for explanation, allow testing of hypotheses
B. They can be used for tables, they can be graphed
C. They can be used in computers governments use them
D. They provide interesting information can be summarized

A. The time lost in finding it
B. The quantity of other goods sacrificed to get another unit of that good
C. The expenditure on the good
D. The loss of interest in using savings

A. Government intervenes
B. Government plan production
C. Government interferes
D. Prices adjust to reconcile scarcity and desires

A. Positive statements, facts
B. Opinions personal facts
C. Positive statements values
D. Opinions facts

A. No more of the activity.
B. Less of the activity
C. More of the activity
D. More or less, depending on the benefits of other activities

A. Improving the education of workers
B. Raising union wages.
C. Raising minimum wages.
D. Restricting trade with foreign countries.

A. Rs 300
B. Rs 1000
C. Rs 500
D. Rs 800

A. The business cycle has been eliminated
B. An increase in inflation temporarily increases unemployment.
C. Inflation and unemployment are unrelated in the short run.
D. A decrease in inflation temporarily increases unemployment.