Applied Microeconomics MCQs ( Economics ) MCQs – Economics MCQs
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Latest Economics MCQs
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Latest Applied Microeconomics Mcqs ( Economics ) Mcqs
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The theory of the second best suggests that in the absence of perfect competition a privatized industry should charge a price of ?
A. p = MC
B. P = MC + Z
C. p = Z
D. P = MC – Z
Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?
A. restrict; promote
B. promote; promote
C. restrict; restrict
D. promote; restrict
In the UK, electricity industry parts are a ____ and other parts are ___ ?
A. cartel; a sellers’ market
B. natural monopoly; potentially competitive
C. nationalized; privatized
D. monopolistic competition duopoly
Sales staff are keen to sell extended warranties because ?
A. the cost of repair will usually exceed the cost of the warranty
B. extended warranties offer value for money.
C. they are paid commission on each extended warranty they sell.
D. They are concerned about customer satisfaction.
A conglomerate merger is a merger of ?
A. firms at various stages in production process.
B. firms producing the same product
C. firm producing complementary products
D. firms producing unrelated products.
Antimonopoly laws are based on the proposition that ?
A. public ownership is the best way to achieve efficiency
B. competition is the best way to achieve efficiency.
C. increasing market power is the best way to achieve efficiency.
D. regulation is the best way to achieve efficiency.
The external benefits of using cars are ____ and the external costs are _____?
A. high; high
B. low; low
C. low; high
D. high; low
Between 1990 and 1999 car ownership per thousand of the population fell in ?
A. Belgium
B. Spain
C. USA
D. UK
Long Term Economic Growth MCQs
Economists use the term regulatory capture to mean a situation where the private sector firms being regulated ?
A. Persuade the regulator to operate in the industry’s interests
B. Bribe the regulator.
C. Persuade the regulator to act in the firms interests.
D. Persuade the government to change the regulatory regime.
In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?
A. natural monopoly
B. making markets contestable
C. deregulation.
D. cross-subsidization.
De-regulation is where the government ?
A. imposes higher standards of conduct
B. removes barriers to entry
C. removes barriers to entry and minimum product quality standards
D. breaks up private sector monopolies.
Privatization is the transfer of ?
A. publicly held stock to private individuals.
B. corporately owned businesses to individuals
C. government businesses to the private sector
D. privately owned businesses to the government sector
A firm charging different buyers’ different prices for the same product is practicing ?
A. price discounting.
B. Price discrimination
C. Competitive pricing.
D. price fixing.
A merger in which firms at various stages in a production process combine is a ?
A. conglomerate merger.
B. vertical merger
C. production merger
D. horizontal merger
A merger between a paper producer and a book publisher is an example of?
A. a horizontal merger
B. a conglomerate merger.
C. a complementary products merger.
D. a vertical merger
A horizontal merger is a merger of?
A. firms producing complementary products
B. firms producing unrelated products
C. firms at various stages in a production process.
D. firms producing the same product
Supporters of antimonopoly enforcement argue that the real gain from such enforcement ?
A. is the revenue generated from the fines paid by those individuals who are found guilty of antitrust violation?
B. is that if encourages firms to engage in research which leads to new products
C. Is that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising
D. is that it forces firms to produce efficiently.
Which city has the following transport policy ?
A. Car licenses are very expensive vehicle entry to the city center is very restricted road pricing is being introduced and modern cheap rail transport is being expanded.
B. Athens
C. London
D. Singapore
E. New York
Evidence suggests that the price elasticity of demand for motoring is ?
A. Elastic
B. Unitarily elastic
C. absolutely inelastic
D. inelastic
Spending on motoring as a % of household expenditure in the UK shows that motoring is ?
A. an inferior good
B. Environmentally damaging
C. a potential public good
D. a superior good