Explore topic-wise MCQs in Economics Mcqs.

The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?

The OPEC oil cartel ?

hich of the following is not a property required of a perfect voting system ?

Suppose that 40 percent of the voting population wish to spent Rs1,000 for artwork in City Hall, 25 percent wish to spent Rs20,000 and 35 percent wish to spend Rs 22,000 What is the median preferred outcome, the average preferred outcome and the modal preferred outcome ?

Which of the following help explain why firms pay bonuses to workers during particularly profitable years to prevent workers from becoming disgruntled ?

_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?

Which of the following is not true about how people make decisions ?

Which of the following best demonstrates the problem of moral hazard ?

In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?

Export-led growth strategies tend to emphasize ?

Which of the following must be true about a signal that is used to reveal private information in order for the signal to be effective ?

Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?

Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

Import substitution is an example of ?

An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?

Nicole wants to avoid buying a car that is a lemon. She takes a car she would like to buy to her mechanic before she purchases it. This is known as ?

Which of the following is not a method firms use to avoid the moral hazard problem in the employment relationship ?

The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?

A life insurance company forces Enzo to have a medical examination prior to selling him insurance ?

Refer to Figure 1 What percent of the population vote for A when the choice is between A and B ?

Which of the following is an example of a signal that is used to reveal private information ?

Membership in the World Trade Organization for china ?

Jamil’s car is in need of repair, so John decides to sell it avoid the repair bill. Unaware of the problem, Shahab buys the car. This is an example of ?

Markus is a travelling salesman for an apparel company. In this employment relationship, Markus is the ?

Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?

All of the following are trade problems of developing countries except?

Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?

Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?

For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?

To be considered a good candidate for export cartel, a commodity should ?

A widely used indicator to differentiate developed countries from developing countries is ?

Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?

In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?

Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?

Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________?

Because supply and demand conditions for primary products are very price inelastic their prices ?

Which of the following strategies have developing countries not used to deal with the problem of unstable export markets ?

Which of the following is true under pairwise majority rule if people vote for the outcome closest to their most preferred outcome ?

Which of the following is a response to People’s inconsistent behavior over time ?

Jamil’s friend dies of a sudden heart attack. Jamil rushes to his doctor for an expensive physical examination. This response demonstrates that ?

Among the institutions and policies that have been created to support developing countries are?

The People’s Republic of China ?

Economic growth occurs because ?

The Generalized System of Preferences (GSP) program allows ?

Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?

Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?

Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?

Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?

To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?