MCQsDrive | MCQsDrive

Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

Which of the following professionals is most likely to be able to generate the income of a superstar ?

A the best professor

B the best writer

C All of these answers participate in markets that could generate a superstar

D The best accountant

Review Detailed Answer

Correct Answer: the best writer

In order for a market to support superstars it must have which of the following characteristics ?

A It must be involved in professional athletics

B Every customer must be indifferent to the price they pay, and the seller must be a competitor in the market for the product

C Every customer must be willing to pay an enormous amount for the product and the product must be a necessity

D Every customer must want the good supplied by the best producer and the technology must exist for the best producer to supply every customer at low cost

Review Detailed Answer

Correct Answer: Every customer must want the good supplied by the best producer and the technology must exist for the best producer to supply every customer at low cost

Competitive markets tend to ?

A Increase labor market discrimination because some workers can charge more for their services than other workers in a competitive market

B have no impact on labour market discrimination

C reduce labour market discrimination because non-discrimination firms will employ cheaper labour earn more profits and drive discriminating firms out of the market

D increase labour market discrimination because bigoted employers can charge any price they want in a competitive market to cover the cost of their discrimination

Review Detailed Answer

Correct Answer: reduce labour market discrimination because non-discrimination firms will employ cheaper labour earn more profits and drive discriminating firms out of the market

Which of the following is not a reason why some workers are paid above the equilibrium wage ?

A minimum-wage laws

B efficiency wages

C unions

D beauty

Review Detailed Answer

Correct Answer: beauty

Which of the following explanations of wage differentials is not likely to be true ?

A Men have more human capital than women

B Employers in competitive markets are bigots

C Men have more job experience than women

D None of the above

Review Detailed Answer

Correct Answer: Employers in competitive markets are bigots

A profit-maximizing firm will hire labour until _ equals the ___?

A marginal revenue, marginal cost

B long run marginal revenue, long run marginal cost

C labor output ratio, capital output ratio

D marginal cost of labor, marginal revenue product

Review Detailed Answer

Correct Answer: marginal cost of labor, marginal revenue product

Top footballers tend to earn more than lecturers because ?

A footballers give more entertainment

B lecturers are lazy

C the labor markets are imperfect

D top footballers are relatively scarce in relation to lecturers

Review Detailed Answer

Correct Answer: top footballers are relatively scarce in relation to lecturers

Skilled labor is relatively scarce because ?

A there are too few teachers

B too few student places in higher education

C it is costly to acquire human capital

D teachers’ salaries are too low

Review Detailed Answer

Correct Answer: it is costly to acquire human capital

By restricting labor supply a trade union can _ and ___?

A increase the wage, increase employment

B maintain the wage, increase employment

C increase the wage, lower employment

D maintain the wage, lower employment

Review Detailed Answer

Correct Answer: increase the wage, lower employment

Involuntary unemployment exists if workers ?

A will not work at the offered wage

B would work at the going wage but can’t find jobs

C will not work because the hours are anti-social

D Are not prepared to move house to get the job

Review Detailed Answer

Correct Answer: would work at the going wage but can’t find jobs

Showing 3051 to 3060 of 4423 results

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Which of the following professionals is most likely to be able to generate the income of a superstar ?

In order for a market to support superstars it must have which of the following characteristics ?

Competitive markets tend to ?

Which of the following is not a reason why some workers are paid above the equilibrium wage ?

Which of the following explanations of wage differentials is not likely to be true ?

A profit-maximizing firm will hire labour until _ equals the ___?

Top footballers tend to earn more than lecturers because ?

Skilled labor is relatively scarce because ?

By restricting labor supply a trade union can _ and ___?

Involuntary unemployment exists if workers ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Which of the following professionals is most likely to be able to generate the income of a superstar ?

In order for a market to support superstars it must have which of the following characteristics ?

Competitive markets tend to ?

Which of the following is not a reason why some workers are paid above the equilibrium wage ?

Which of the following explanations of wage differentials is not likely to be true ?

A profit-maximizing firm will hire labour until _____ equals the _______?

Top footballers tend to earn more than lecturers because ?

Skilled labor is relatively scarce because ?

By restricting labor supply a trade union can _____ and _______?

Involuntary unemployment exists if workers ?

A profit-maximizing firm will hire labour until _ equals the ___?

By restricting labor supply a trade union can _ and ___?