Latest Economics MCQs – Up To Date Miscellaneous ( Economics ) MCQs
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Latest Economics MCQs
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Latest Miscellaneous ( Economics ) Mcqs
The most occurred mcqs of Miscellaneous ( Economics ) in past papers. Past papers of Miscellaneous ( Economics ) Mcqs. Past papers of Miscellaneous ( Economics ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Miscellaneous ( Economics ) Mcqs. The Important series of Miscellaneous ( Economics ) Mcqs are given below:
White -collar crime_____________?
A. gains small amounts of money for its perpetrators
B. is based on violence
C. is very costly to society
D. is punished more severely than blue-collar crime
When cars are offered at low prices but people still do not buy them the situation is one in which______________?
A. there is aggregate demand
B. demand is inelastic
C. demand is elastic
D. exchange takes place
Deviance that is covered by the laws of a society is called______________?
A. alienation
B. anomie
C. crime
D. differentiation
Deviance that has been exposed leads to______________?
A. transmission
B. labeling
C. anomie
D. forgiveness
What percentage of the earth’s people live in high-income areas ?
A. 45%
B. 15%
C. 50%
D. 3%
Approximately how many people inhabit the earth ?
A. 12 billion
B. 6 billion
C. 50 billion
D. 1.2 billion
Which is NOT Third World nation ?
A. Zimbabwe
B. China
C. Burkina Faso
D. Ethiopia
The three most important nations in Asia are_______________?
A. Hong Kong Macao Bali
B. Singapore South Korea and Malaysia
C. Japan India China
D. Taiwan Indonesia Tibet
Armenia Georgia and Azerbaijan are_____________________?
A. Slavic nations
B. Baltic nations
C. Asian nations
D. African nations
The failure of the League of Nation______________?
A. was due to the Republican Senate’s opposition
B. occurred after President Wilson’s stroke
C. illustrated that national interest is more important than collective security or moral opposition to aggression
D. was due to Marxism-Leninism
Terrorist groups differ from liberation organizations in that_______________?
A. they tend to hide in rural areas
B. they do not organize the masses on a large scale
C. only terrorists take credit for bombing museums
D. their leaders are well known
When considering the role of morality in foreign policy analysts observe that_____________?
A. the different nations of the world have the same values when it comes to treaties
B. there are no restrictions in reaching agreements with other nations
C. each nation has different standards as to what is proper behavior and values
D. none of the above
The decision to send arms to Iran made by the National Security Council during the Reagan presidency was an example of the following type of foreign policy______________?
A. general
B. crisis
C. administrative
D. none it was an internal matter
Switzerland is an example of nation that______________?
A. displays no self-interest
B. plans to enlarge its power over other nations
C. wishes to absorb other nations
D. looks out for its own interests only
Which perspective assumes that actors other than states are also important and s whether states are unitary actors ?
A. Globalism
B. Realism
C. Pluralism
D. Idealism
The purpose of the Monroe Doctrine was_______________?
A. to let the world, know who the superpower is
B. to warn European powers to keep away from the Western Hemisphere in return for U.S nonintervention in Europe
C. to conquer the Soviet regime and attach Siberia to the United States
D. to warn the Japanese to steer clear of the Caribbean in exchange for U.S non-intervention in Afghanistan
Which statement is wrong regarding diplomacy? It_____________?
A. is a recent addition to international relations?
B. and diplomats have been quite radically altered in recent years
C. has a long history predating the creation of the nation state?
D. has little to do with the failure to solve basic problems among nations
Miscellaneous MCQs
Diplomacy today gives diplomats________________?
A. charge of summit conferences
B. limited roles as messengers
C. great discretion in making policy decisions
D. starring roles as celebrities
Foreign policy decisions may be categorized into those that are________________?
A. administrative
B. general
C. crisis
D. all of the above
Future generations will have to pay interest on the current debt because______________?
A. the U.S government never borrows money from foreign governments
B. budget deficits are funded with borrowed money
C. it takes a long time to pay off debts
D. none of the above
The Federal Reserve Bank regulates the money supply by__________________?
A. the discount rate it charges member banks
B. establishing minimum reserve requirements of member banks
C. buying and selling government securities
D. all of the above
The government can curb excessive aggregate demand(inflation)by_________________?
A. decreasing taxes on consumers
B. decreasing taxes on firms
C. increasing spending
D. none of the above
The jobs of the future will include______________?
A. steel workers
B. personal services
C. routine services
D. All but A
Which is true ?
A. Downsizing has created a new style of employment
B. Blue-collar workers have suffered layoffs
C. Productivity has increased in the decade of the 1990
D. All of the above are true
Symbolic analysts are_______________?
A. employees capable of manipulating data words and visual images
B. people employed in new enterprises
C. psychologists with advanced degrees
D. only A and B
Both fiscal and monetary policies focus on____________________?
A. both sides of the market
B. the demand side of the market
C. the supply side of the market
D. the global market
Supply-side theories claim that__________________?
A. an increase in aggregate supply causes output and employment to decline
B. a decline in aggregate supply is responsible for economic downturns
C. business cycles are caused by insufficient supply
D. none of the above
The argument that in some situations the government had to “prime the pump” was advanced by________________?
A. Adam Smith
B. Karl Marx
C. John Maynard Keynes
D. Milton Friedman
Which is/are the policy option(s) to counteract business cycles ?
A. Shift the supply curve
B. Shift the demand curve
C. Do noting
D. All of the above
The inordinate growth of government is a side effect of________________?
A. the political apathy of public
B. government intervention in the economy
C. the increasing poverty of individual states
D. the willingness of individuals to give up traditional freedoms
In order to raise the GNP and the GDP per capita one must____________?
A. increase absenteeism
B. increase productivity
C. earn more money
D. decrease productivity
A way of calculating the total output of the economy regardless of where resources are located is________________?
A. the GNP
B. the GDP
C. the NNP
D. the SPQR
In economic terms incomes are distributed according to________________?
A. a person’s marginal productivity
B. which skills one has
C. whom one knows
D. innate talent
The Great Depression_________________?
A. resulted from the greed of the robber barons
B. was the worst case of massive unemployment
C. resulted from insufficient demand
D. only B and C
Total “laissez-faire” is impossible because________________?
A. the market is not equitable favoring those with more resources
B. the market does not provide for satisfying public needs
C. the market makes no provision for protecting smaller participants
D. all of the above
When the supply and demand curves intersect the final lasting price is achieved This is called_____________?
A. pressure price
B. equilibrium price
C. clearance price
D. a buyer’s market
Participants in the market system________________?
A. try to maximize their worth
B. are affected by prices and incomes
C. are totally free to pursue their goals
D. try to maximize their labor
Firms sell their products in________________?
A. resource markets
B. factor markets
C. product markets
D. abstract markets
Maintaining full employment stabilizing the economy and pursuing economic growth are issues analyzed in the context of_______________?
A. microeconomics
B. super economics
C. microeconomics
D. hyper economics
Total planned OR desired spending in the economy as a whole within a given period is called_____________?
A. elastic demand
B. aggregate demand
C. pent-up demand
D. excess demand
Without stabilized prices_______________?
A. resource market demand is problematic
B. product market demand is problematic
C. the distribution of income becomes more inequitable
D. all of the above
The Department of Health and Human Services has summarized the “correct” mix of goods and services through ?
A. the consumer price index
B. “market basket of goods
C. 165 social indicators
D. the externalities index
Need and demand________________?
A. are unrelated concepts
B. are closely related to price
C. amount to the same thing
D. are closely related to supply
Income received by households that is not returned to firms is called_______________?
A. incremental
B. withdrawals
C. dissaving’s
D. injections
In microeconomics the household is defined as_______________?
A. the extended family
B. the nuclear family
C. everyone who lives under one roof
D. all of the above
Exceptions to the circular flow are__________________?
A. incidentals
B. injections
C. withdrawals
D. B and C only
Adequate growth of the economy refers to the goals of__________________?
A. maintaining current standards of living in spite of increasing population
B. approximately 4% growth rate per year
C. increasing GNP per capita
D. all of the above
Liberals and conservatives agree to some extent that economic goals should include________________?
A. price stability
B. full employment
C. adequate economic growth
D. all of the above
A problem with laissez-faire economic policy is that there is___________________?
A. no profit motives
B. no provision for public goods
C. no flexibility
D. responsiveness to demand
Miscellaneous MCQs
Demand and supply are________________?
A. market forces
B. thesis and antithesis
C. key economic indicators
D. causes of inflation
Some of the advantages of a market economy include ?
A. scarce resources are put into goods that are in demand
B. all participants get some satisfaction
C. economic output is distributed to those who can pay the price
D. all of the above
Extraction of raw materials occurs in which sector of the economy ?
A. Primary
B. Tertiary
C. Secondary
D. Quaternary
Which status is in transition and difficult to classify in corporate relationships ?
A. Foreman
B. Stock holder
C. Union official
D. CEO
When a business has multiple absentee owners with limited liability it is a_____________?
A. proprietorship
B. partnership
C. trust
D. corporation
A corporation________________?
A. has the advantage of being able to accumulate vast amounts of capital in a short period of time
B. is a public institution
C. can afford to pay for the latest research and technology
D. all of the above
Resources are defined as______________?
A. everything needed for the production of goods and services including human energy
B. everything that is made by people
C. everything found in the ground
D. none of the above
Land labor capital and entrepreneurship ?
A. must be combined in the production of goods and service
B. have no function in the production of goods and service
C. must be used separately to produce goods and service
D. create a balance between humans and their environment
Unions face WHICH of the following problems ?
A. Increasing white-collar membership
B. Antitrust laws
C. Expansion of the manufacturing sector
D. Loss of membership
Royal Dutch Shell Oil Co has branches in Holland Britain the United States and France This kind of corporation is called__________________?
A. restricted
B. multinational
C. closed
D. monopolistic
One of the side effects of advertising is that it________________?
A. helps the wealthy get richer
B. creates artificial demands
C. supplies the real needs of people
D. none of the above
With the shift from family capitalism to industrial capitalism the important unit became the_______________?
A. corporation
B. commune
C. government
D. union
The Protestant Ethic supported capitalism through the religious doctrine that praised_________________?
A. hard work and thrift
B. turning the other cheek
C. predestination
D. buying indulgences
In contemporary market systems competition____________________?
A. does not exist
B. is diluted by private and state monopolies
C. is quite strong
D. has been replaced by planning
The market system consists of planning by__________________?
A. inducement
B. command
C. direction
D. tradition
Specialized division of labor in industrial societies can make workers feel that they_______________?
A. are an anonymous group
B. have no sense of accomplishment
C. have lack of control
D. all of the above
Efficiency in economic terminology means________________?
A. ignoring the time factor
B. obtaining the highest output in the least amount of time
C. using existing technology
D. making do with as few workers as possible
Which economic orientations govern Western industrial societies ?
A. Command
B. Tradition
C. Free Market
D. BOTH market and command
The main problem facing societies with a surplus is_____________________?
A. how to keep it away from enemies
B. what to produce how produce it and for whom to produce it
C. there is no problem it is divided equally
D. how to get rid of it
The numbers of PACs ?
A. tripled since 1074
B. doubled since 1974
C. quadrupled since 1974
D. increased nearly sevenfold since 1974
The foremost advantage of a corporation is its_____________?
A. ability to accumulate vast amounts of capital in a short time
B. necessity to exhibit the latest technology
C. ability to profit from the labor of its employees
D. capacity for protracted periods of employment
In most societies ownership of property takes one of three forms________________?
A. esthetic visible tangible
B. restricted guarded and private
C. communal private public
D. ambiguous hermetic contraceptive
Land labor capital and entrepreneurship are called__________________?
A. impetus to upward mobility
B. raw materials
C. factors of production
D. external devices
Each society must make the following decisions of an economic nature regarding the______________?
A. assessment collection and counting of taxes
B. time place and quantity of production
C. measurement of land water and minerals
D. production distribution and consumption of goods and services
Which resources are scarce in every society ?
A. Wheat and com
B. Fertile land
C. Food shelter and protective coverings
D. Sufficient males to mate with all the females
Corporations and labor unions_____________?
A. may establish their own PACs
B. cannot contribute to congressional candidates
C. may use union or corporate funds to administer PACs
D. can give soft money to a national party for state and local campaigns
E. all of the above
Whenever a third party becomes significant its platform _______________ ?
A. is declared unconstitutional
B. is integrated into the platforms of the two main parties
C. is rejected by the two main parties
D. becomes a social movement
The transitional period between the dominance of one party or another is called_______________?
A. realignment
B. alignment
C. dealignment
D. derailment
“Hard “money is_________________?
A. cash rather than checks or notes
B. money actually tendered to campaigns
C. money given during the campaign
D. none of the above
The Democrats lost the presidential elections in 1984 and 1988 because of______________?
A. huge political gaffes
B. split ticket voting
C. loss of direct contact with the electorate
D. running the wrong candidates
Political parties link_____________?
A. extremists to government
B. heterogeneous groups to coalitions
C. PACs to Congress
D. all of the above
Effective social movement leadership requires_______________?
A. taking tactical advantage of trends and opportunities
B. procedures for succession
C. marketing skills
D. all of the above
Which of the following is NOT an interest group ?
A. The American Association of Retired people
B. The National Rifle Association
C. Lobbyists of America
D. The Southern Christian Leadership Conference
A modified version of elitist theory holds that_______________?
A. elites vary in their degree of openness
B. the masses can on occasion influence the elite
C. elite members identify with middle-class values
D. all of the above
Miscellaneous MCQs
What function do politicians serve according to pluralists ?
A. Statesmen
B. Front men
C. Shills or decoys
D. Power and interest brokers
The chief function of interest group is to________________?
A. provide group representation above and beyond that provided by our elected officials in Congress
B. choose candidates for political office
C. bring into the open obscure problems to be solved
D. provide geographic representation
Which of the following groups has traditionally had the worst voting record in the United States ?
A. College educated professionals
B. The young and underprivileged
C. Urban and suburban residents
D. White collar workers
The classic textbook model of democracy is referred to as the__________________?
A. referendum model
B. Lockean model
C. majoritarian model
D. Madisonian model
Interest groups may be defined as__________________?
A. groups of people who want to enter politics
B. groups of people interested in specific legislation
C. wealthy and civicminded people with excessive leisure time.
D. coalitions of individuals with similar attitudes and interests who attempt to influence public policy
In regard to public and political opinion_________________?
A. public opinion is limited to few issues
B. they are the same
C. political opinion deals with all matters
D. political opinion is all opinions expressed on political issues
Today’s Catholic Church is classified as a________________?
A. nationless state
B. national state
C. intergovernmental organization
D. nongovernmental organization
Surveys of American voters reveal_______________?
A. full support of democratic principles
B. a general support of the government
C. the majority of people and political leaders are equally committed to democratic values
D. a general cynicism about government
The political organization that may have too much influence on elected officials because of its generous contribution is the________________?
A. Democratic Club
B. Republican Club
C. Political Action Committee
D. Rules Committee
Proposed political party reforms in the U.S include_____________?
A. greater ideological division
B. greater freedom of action for candidates
C. increasing numbers of Independents
D. adopting a winner-takes -all principle
Political parties in the U.S function to______________?
A. define the interests of the people in the form of a platform
B. engage in political socialization
C. provide personnel to run the government
D. all of the above
The synthesis of the elitist and pluralist approaches realist democracy assumes that_____________?
A. new groups can become the new elite
B. the elites have a consensus on basic democracy
C. voters do have a choice in elite competition
D. all of the above
In the American political system_____________?
A. there is no ruling elite
B. real equality for everyone is a fact
C. everyone participates in the political process
D. members of Congress and their constituents generally do not know much about what the other thinks
A pluralist in the U.S would maintain that___________________?
A. power is spread through multiple centers
B. significant decisions are made by the upper classes
C. policy reflects the wishes of a few elites
D. power is in the hands of a small homogeneous class of leaders
The power elite are drawn from among the_______________?
A. military and business leaders
B. union leaders
C. middle-class urban residents
D. intellectuals
The school of thought that considers power to be brokered by various interest groups is called______________?
A. pluralism
B. absolute power
C. power elitism
D. authoritarianism
In C.Wright Mill,s view what group constitutes an elite ?
A. The corporate rich only
B. Church leaders and educators
C. High ranking military officers only
D. The military-industrial-governmental complex