Economics Practice MCQ Page 34
Multiple Choice questions for Economics in the sets of 10 each on one page with questions and answers. All sets are useful in the preparation of subject tests for employment or admission.
Question: 1850 In a recession ,classical economists advocated
- expansion of the money supply.
- contraction of the money supply.
- expansion of the government spending .
- contraction of government spending .
- doing nothing.
Question: 1851 The equation of exchange is written
- MQ = PV.
- MP = QV.
- MV = PQ.
- MQ = GDP..
- MP = GDP0.
Question: 1853 According to the classical quantity theory,the aggregate demand and aggregate supply curves slope
- downward and upward ,respectively
- downward and vertically,respectively.
- vertically and upward,respectively.
- downward and horizontally ,respectively .
- horizontally and upward, respectively.
Question: 1854 An,increase in the money supply in the classical quantity theory causes the
- aggregate demand curve to shift to the left proportionately.
- aggregate supply curve to shift to the proportionately.
- aggregate demand curve to shift to the right proportionately.
- aggregate supply curve to shift to the right proportionately.
- aggregate demand and aggregate supply curve to shift to the right.
Question: 1856 The classical quantity theory was abandoned by most macroeconomists because of
- World Ward 1.
- World Ward 11.
- the founding of the Federal Reserve System .
- high inflation in the 1970.
- high unemployment in the Great Depression.
Question: 3427 Macroeconomics is the study of
- large firms and consumers
- industries as a whole rather then individual firms
- the economy as a whole
- large groups of firms and households
- individual firms and households
Question: 3428 the structurally unemployed include workers who
- are laid off due to a recession
- were formerly employed in dying industries
- are looking for their first jobs
- have quit work to try to find better jobs
- both c and d
Question: 3429 Which of the following is least important in the study of macroeconomics?
- the general price level
- relative prices of goods
- the unemployment rate
- the interest rate
- total output of goods and services
Question: 3430 The cyclically unemployed include workers who
- are laid off due to a recession
- were formerly employed in dying industries
- are looking for their first jobs
- have quit work to try to find better jobs
- both c and d
Question: 3431 A person who si currently on vacation from his or her factory job is classified as
- employed
- unemployed
- not in the labor force
- either unemployed or not in the labor force, but more data are needed to determine which
- either employed or not in the labor force, but more data are needed to determine which
Question: 3432 The types of unemployment that is often beneficial to society is
- cyclical unemployment
- structural unemployment
- frictional unemployment
- both structural and frictional unemployment
- none unemployment is beneficial
Question: 3433 Someone who has been unemployed for two years is most likely
- cyclically unemployed
- structurally unemployed
- frictionally unemployed
- either frictionally or structurally unemployed
- either cyclically or frictionally unemployed
Answers to the questions of Economics on this page
Following list gives the correct choice for the answer of the Economics mcqs.
1850 . E
1851 . C
1853 . B
1854 . C
1856 . E
3427 . B
3428 . B
3429 . B
3430 . A
3431 . A
3432 . C
3433 . B
Select Page Number
MCQ for Practicing Subject Tests