Miscellaneous Economics MCQs

Option A: Realism

Option B: Globalism

Option C: Pluralism

Option D: Idealism

Correct Answer: Pluralism ✔

Option A: to warn the Japanese to steer clear of the Caribbean in exchange for U.S non-intervention in Afghanistan

Option B: to warn European powers to keep away from the Western Hemisphere in return for U.S nonintervention in Europe

Option C: to conquer the Soviet regime and attach Siberia to the United States

Option D: to let the world, know who the superpower is

Correct Answer: to warn European powers to keep away from the Western Hemisphere in return for U.S nonintervention in Europe ✔

Option A: is a recent addition to international relations?

Option B: has a long history predating the creation of the nation state?

Option C: and diplomats have been quite radically altered in recent years

Option D: has little to do with the failure to solve basic problems among nations

Correct Answer: is a recent addition to international relations? ✔

Option A: great discretion in making policy decisions

Option B: limited roles as messengers

Option C: charge of summit conferences

Option D: starring roles as celebrities

Correct Answer: limited roles as messengers ✔

Option A: general

Option B: administrative

Option C: crisis

Option D: all of the above

Correct Answer: all of the above ✔

Option A: it takes a long time to pay off debts

Option B: budget deficits are funded with borrowed money

Option C: the U.S government never borrows money from foreign governments

Option D: none of the above

Correct Answer: budget deficits are funded with borrowed money ✔

Option A: establishing minimum reserve requirements of member banks

Option B: the discount rate it charges member banks

Option C: buying and selling government securities

Option D: all of the above

Correct Answer: all of the above ✔

Option A: decreasing taxes on consumers

Option B: increasing spending

Option C: decreasing taxes on firms

Option D: none of the above

Correct Answer: none of the above ✔

Option A: steel workers

Option B: routine services

Option C: personal services

Option D: All but A

Correct Answer: All but A ✔

Option A: Productivity has increased in the decade of the 1990

Option B: Blue-collar workers have suffered layoffs

Option C: Downsizing has created a new style of employment

Option D: All of the above are true

Correct Answer: All of the above are true ✔

Option A: people employed in new enterprises

Option B: employees capable of manipulating data words and visual images

Option C: psychologists with advanced degrees

Option D: only A and B

Correct Answer: only A and B ✔

Option A: the supply side of the market

Option B: the demand side of the market

Option C: both sides of the market

Option D: the global market

Correct Answer: the demand side of the market ✔

Option A: business cycles are caused by insufficient supply

Option B: a decline in aggregate supply is responsible for economic downturns

Option C: an increase in aggregate supply causes output and employment to decline

Option D: none of the above

Correct Answer: a decline in aggregate supply is responsible for economic downturns ✔

Option A: Karl Marx

Option B: Adam Smith

Option C: John Maynard Keynes

Option D: Milton Friedman

Correct Answer: John Maynard Keynes ✔

Option A: Shift the demand curve

Option B: Shift the supply curve

Option C: Do noting

Option D: All of the above

Correct Answer: All of the above ✔

Option A: the increasing poverty of individual states

Option B: government intervention in the economy

Option C: the political apathy of public

Option D: the willingness of individuals to give up traditional freedoms

Correct Answer: government intervention in the economy ✔

Option A: earn more money

Option B: increase productivity

Option C: increase absenteeism

Option D: decrease productivity

Correct Answer: increase productivity ✔

Option A: the GDP

Option B: the GNP

Option C: the NNP

Option D: the SPQR

Correct Answer: the SPQR ✔

Option A: a person’s marginal productivity

Option B: whom one knows

Option C: which skills one has

Option D: innate talent

Correct Answer: a person’s marginal productivity ✔

Option A: resulted from the greed of the robber barons

Option B: resulted from insufficient demand

Option C: was the worst case of massive unemployment

Option D: only B and C

Correct Answer: only B and C ✔

Option A: the market does not provide for satisfying public needs

Option B: the market is not equitable favoring those with more resources

Option C: the market makes no provision for protecting smaller participants

Option D: all of the above

Correct Answer: all of the above ✔

Option A: clearance price

Option B: equilibrium price

Option C: pressure price

Option D: a buyer’s market

Correct Answer: equilibrium price ✔

Option A: are totally free to pursue their goals

Option B: are affected by prices and incomes

Option C: try to maximize their worth

Option D: try to maximize their labor

Correct Answer: are affected by prices and incomes ✔

Option A: factor markets

Option B: resource markets

Option C: product markets

Option D: abstract markets

Correct Answer: product markets ✔

Option A: super economics

Option B: microeconomics

Option C: microeconomics

Option D: hyper economics

Correct Answer: microeconomics ✔

Option A: pent-up demand

Option B: aggregate demand

Option C: elastic demand

Option D: excess demand

Correct Answer: aggregate demand ✔

Option A: product market demand is problematic

Option B: resource market demand is problematic

Option C: the distribution of income becomes more inequitable

Option D: all of the above

Correct Answer: all of the above ✔

Option A: “market basket of goods

Option B: the consumer price index

Option C: 165 social indicators

Option D: the externalities index

Correct Answer: 165 social indicators ✔

Option A: are unrelated concepts

Option B: amount to the same thing

Option C: are closely related to price

Option D: are closely related to supply

Correct Answer: are unrelated concepts ✔

Option A: dissaving’s

Option B: withdrawals

Option C: incremental

Option D: injections

Correct Answer: withdrawals ✔

Option A: the nuclear family

Option B: the extended family

Option C: everyone who lives under one roof

Option D: all of the above

Correct Answer: everyone who lives under one roof ✔

Option A: incidentals

Option B: withdrawals

Option C: injections

Option D: B and C only

Correct Answer: B and C only ✔

Option A: maintaining current standards of living in spite of increasing population

Option B: increasing GNP per capita

Option C: approximately 4% growth rate per year

Option D: all of the above

Correct Answer: all of the above ✔

Option A: full employment

Option B: price stability

Option C: adequate economic growth

Option D: all of the above

Correct Answer: all of the above ✔

Option A: no flexibility

Option B: no provision for public goods

Option C: no profit motives

Option D: responsiveness to demand

Correct Answer: no provision for public goods ✔

Option A: market forces

Option B: key economic indicators

Option C: thesis and antithesis

Option D: causes of inflation

Correct Answer: market forces ✔

Option A: all participants get some satisfaction

Option B: scarce resources are put into goods that are in demand

Option C: economic output is distributed to those who can pay the price

Option D: all of the above

Correct Answer: all of the above ✔

Option A: Primary

Option B: Secondary

Option C: Tertiary

Option D: Quaternary

Correct Answer: Primary ✔

Option A: Foreman

Option B: Union official

Option C: Stock holder

Option D: CEO

Correct Answer: Foreman ✔

Option A: partnership

Option B: proprietorship

Option C: trust

Option D: corporation

Correct Answer: corporation ✔

Option A: is a public institution

Option B: has the advantage of being able to accumulate vast amounts of capital in a short period of time

Option C: can afford to pay for the latest research and technology

Option D: all of the above

Correct Answer: all of the above ✔

Option A: everything needed for the production of goods and services including human energy

Option B: everything found in the ground

Option C: everything that is made by people

Option D: none of the above

Correct Answer: everything needed for the production of goods and services including human energy ✔

Option A: must be combined in the production of goods and service

Option B: must be used separately to produce goods and service

Option C: have no function in the production of goods and service

Option D: create a balance between humans and their environment

Correct Answer: must be combined in the production of goods and service ✔

Option A: Antitrust laws

Option B: Increasing white-collar membership

Option C: Expansion of the manufacturing sector

Option D: Loss of membership

Correct Answer: Loss of membership ✔

Option A: closed

Option B: multinational

Option C: restricted

Option D: monopolistic

Correct Answer: multinational ✔

Option A: supplies the real needs of people

Option B: creates artificial demands

Option C: helps the wealthy get richer

Option D: none of the above

Correct Answer: creates artificial demands ✔

Option A: corporation

Option B: government

Option C: commune

Option D: union

Correct Answer: corporation ✔

Option A: hard work and thrift

Option B: predestination

Option C: turning the other cheek

Option D: buying indulgences

Correct Answer: hard work and thrift ✔

Option A: is quite strong

Option B: is diluted by private and state monopolies

Option C: does not exist

Option D: has been replaced by planning

Correct Answer: is diluted by private and state monopolies ✔

Option A: inducement

Option B: direction

Option C: command

Option D: tradition

Correct Answer: inducement ✔

Option A: have lack of control

Option B: have no sense of accomplishment

Option C: are an anonymous group

Option D: all of the above

Correct Answer: all of the above ✔

Option A: using existing technology

Option B: obtaining the highest output in the least amount of time

Option C: ignoring the time factor

Option D: making do with as few workers as possible

Correct Answer: obtaining the highest output in the least amount of time ✔

Option A: Tradition

Option B: Command

Option C: Free Market

Option D: BOTH market and command

Correct Answer: BOTH market and command ✔

Option A: how to get rid of it

Option B: what to produce how produce it and for whom to produce it

Option C: there is no problem it is divided equally

Option D: how to keep it away from enemies

Correct Answer: what to produce how produce it and for whom to produce it ✔

Option A: doubled since 1974

Option B: tripled since 1074

Option C: quadrupled since 1974

Option D: increased nearly sevenfold since 1974

Correct Answer: increased nearly sevenfold since 1974 ✔

Option A: ability to accumulate vast amounts of capital in a short time

Option B: capacity for protracted periods of employment

Option C: ability to profit from the labor of its employees

Option D: necessity to exhibit the latest technology

Correct Answer: ability to accumulate vast amounts of capital in a short time ✔

Option A: restricted guarded and private

Option B: esthetic visible tangible

Option C: communal private public

Option D: ambiguous hermetic contraceptive

Correct Answer: communal private public ✔

Option A: raw materials

Option B: impetus to upward mobility

Option C: factors of production

Option D: external devices

Correct Answer: factors of production ✔

Option A: time place and quantity of production

Option B: assessment collection and counting of taxes

Option C: measurement of land water and minerals

Option D: production distribution and consumption of goods and services

Correct Answer: production distribution and consumption of goods and services ✔

Option A: Fertile land

Option B: Wheat and com

Option C: Food shelter and protective coverings

Option D: Sufficient males to mate with all the females

Correct Answer: Food shelter and protective coverings ✔

Option A: cannot contribute to congressional candidates

Option B: may establish their own PACs

Option C: may use union or corporate funds to administer PACs

Option D: can give soft money to a national party for state and local campaigns

Correct Answer: all of the above ✔

Option A: is rejected by the two main parties

Option B: is integrated into the platforms of the two main parties

Option C: is declared unconstitutional

Option D: becomes a social movement

Correct Answer: is integrated into the platforms of the two main parties ✔

Option A: realignment

Option B: dealignment

Option C: alignment

Option D: derailment

Correct Answer: realignment ✔

Option A: money actually tendered to campaigns

Option B: cash rather than checks or notes

Option C: money given during the campaign

Option D: none of the above

Correct Answer: none of the above ✔

Option A: split ticket voting

Option B: huge political gaffes

Option C: loss of direct contact with the electorate

Option D: running the wrong candidates

Correct Answer: running the wrong candidates ✔

Option A: PACs to Congress

Option B: heterogeneous groups to coalitions

Option C: extremists to government

Option D: all of the above

Correct Answer: heterogeneous groups to coalitions ✔

Option A: taking tactical advantage of trends and opportunities

Option B: marketing skills

Option C: procedures for succession

Option D: all of the above

Correct Answer: all of the above ✔

Option A: The National Rifle Association

Option B: The American Association of Retired people

Option C: Lobbyists of America

Option D: The Southern Christian Leadership Conference

Correct Answer: Lobbyists of America ✔

Option A: elite members identify with middle-class values

Option B: the masses can on occasion influence the elite

Option C: elites vary in their degree of openness

Option D: all of the above

Correct Answer: all of the above ✔

Option A: Front men

Option B: Statesmen

Option C: Shills or decoys

Option D: Power and interest brokers

Correct Answer: Power and interest brokers ✔

Option A: provide group representation above and beyond that provided by our elected officials in Congress

Option B: provide geographic representation

Option C: bring into the open obscure problems to be solved

Option D: choose candidates for political office

Correct Answer: provide group representation above and beyond that provided by our elected officials in Congress ✔

Option A: Urban and suburban residents

Option B: The young and underprivileged

Option C: College educated professionals

Option D: White collar workers

Correct Answer: The young and underprivileged ✔

Option A: Lockean model

Option B: referendum model

Option C: majoritarian model

Option D: Madisonian model

Correct Answer: majoritarian model ✔

Option A: groups of people interested in specific legislation

Option B: groups of people who want to enter politics

Option C: wealthy and civicminded people with excessive leisure time.

Option D: coalitions of individuals with similar attitudes and interests who attempt to influence public policy

Correct Answer: coalitions of individuals with similar attitudes and interests who attempt to influence public policy ✔

Option A: they are the same

Option B: public opinion is limited to few issues

Option C: political opinion deals with all matters

Option D: political opinion is all opinions expressed on political issues

Correct Answer: political opinion is all opinions expressed on political issues ✔

Option A: national state

Option B: nationless state

Option C: intergovernmental organization

Option D: nongovernmental organization

Correct Answer: nongovernmental organization ✔

Option A: a general support of the government

Option B: full support of democratic principles

Option C: the majority of people and political leaders are equally committed to democratic values

Option D: a general cynicism about government

Correct Answer: a general cynicism about government ✔

Option A: Republican Club

Option B: Democratic Club

Option C: Political Action Committee

Option D: Rules Committee

Correct Answer: Political Action Committee ✔

Option A: greater ideological division

Option B: increasing numbers of Independents

Option C: greater freedom of action for candidates

Option D: adopting a winner-takes -all principle

Correct Answer: greater ideological division ✔

Option A: define the interests of the people in the form of a platform

Option B: provide personnel to run the government

Option C: engage in political socialization

Option D: all of the above

Correct Answer: all of the above ✔

Option A: voters do have a choice in elite competition

Option B: the elites have a consensus on basic democracy

Option C: new groups can become the new elite

Option D: all of the above

Correct Answer: all of the above ✔

Option A: everyone participates in the political process

Option B: real equality for everyone is a fact

Option C: there is no ruling elite

Option D: members of Congress and their constituents generally do not know much about what the other thinks

Correct Answer: members of Congress and their constituents generally do not know much about what the other thinks ✔

Option A: power is spread through multiple centers

Option B: policy reflects the wishes of a few elites

Option C: significant decisions are made by the upper classes

Option D: power is in the hands of a small homogeneous class of leaders

Correct Answer: power is spread through multiple centers ✔

Option A: military and business leaders

Option B: middle-class urban residents

Option C: union leaders

Option D: intellectuals

Correct Answer: military and business leaders ✔

Option A: pluralism

Option B: power elitism

Option C: absolute power

Option D: authoritarianism

Correct Answer: pluralism ✔

Option A: Church leaders and educators

Option B: The corporate rich only

Option C: High ranking military officers only

Option D: The military-industrial-governmental complex

Correct Answer: The military-industrial-governmental complex ✔

Option A: The proletariat

Option B: The bourgeoisie

Option C: The workers for the owners of the means of production

Option D: The military

Correct Answer: The bourgeoisie ✔

Option A: allows those representing minority views to try to become the majority

Option B: favors those representing majority views

Option C: allows those in positions of power to ignore the peoples wishes

Option D: none of the above

Correct Answer: allows those representing minority views to try to become the majority ✔

Option A: oversight

Option B: ensuring that jobs are provided equally

Option C: provide an opposition party to the administration in office

Option D: none of the above

Correct Answer: oversight ✔

Option A: is a slow and painful process

Option B: involves negotiation and compromise

Option C: sometimes pits the executive branch against the interests of the members of states and districts

Option D: all of the above

Correct Answer: all of the above ✔

Option A: outright opposition by state governments to federal law

Option B: a general lack of financial resources and professional expertise at the state level

Option C: inefficiency and sluggishness of state administrations

Option D: all of the above

Correct Answer: all of the above ✔

Option A: correlational

Option B: descriptive

Option C: inferential

Option D: longitudinal

Correct Answer: inferential ✔

Option A: anarchy

Option B: the rule of men

Option C: the rule of custom

Option D: the rule of reason

Correct Answer: the rule of men ✔

Option A: 1763

Option B: 1776

Option C: 1781

Option D: 1788

Correct Answer: 1788 ✔

Option A: concurrent power

Option B: central power

Option C: wholesale power

Option D: regional power

Correct Answer: concurrent power ✔

Option A: large sized countries with regional differences

Option B: small homogeneous countries

Option C: small urban industrial countries

Option D: large homogeneous single religion countries

Correct Answer: large sized countries with regional differences ✔

Option A: a government that acts arbitrarily

Option B: a government that operates in accordance with general rules and limitations

Option C: an agreement or treaty in written form

Option D: a government that is no subject to restraints on political power

Correct Answer: a government that operates in accordance with general rules and limitations ✔

Option A: administrator

Option B: foreign policy maker

Option C: legislator

Option D: ceremonial representative of the U.S

Correct Answer: foreign policy maker ✔

Option A: the states inefficiency

Option B: the tenth amendment

Option C: urban influence on the states

Option D: excess state revenues

Correct Answer: the states inefficiency ✔

Option A: federalism

Option B: a subordinate judiciary

Option C: unlimited power

Option D: appointed representatives

Correct Answer: federalism ✔