vu eco401 Final Term - Quiz No.10
vu eco401 Economics Quiz
This quiz belongs to book/course code vu eco401 Economics of vu organization. We have 33 quizzes available related to the book/course Economics. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: In price discrimination, price elasticity of demand for different customers should be:
Same.
Unit elastic.
Infinite elastic.
Different.
Question 2: Which of the following would be expected to increase the natural rate of unemployment?
An increase in the growth rate of the capital stock.
A reduction in the corporate profits tax.
An increase in the level of unemployment compensation paid to unemployed workers.
A reduction in the number of new entrants into the labor force.
Question 3: A change from $1.00 = Rs. 80.00 to $1.00 = Rs. 85.00 represents:
Depreciation of the dollar.
An appreciation of the dollar
An appreciation of the rupee
None of the given options
Question 4: The total cost (TC) function is given as: TC = 200 + 5Q. What is the average total cost?
5Q
5
5 + (200/Q)
None of the given
Question 6: A £1 increase in government spending will have a larger impact upon national income than a £1 tax cut because:
The government prints the pound it spends.
Not all of a tax cut is spent.
When taxes are cut, so too is government spending.
Taxes are an injection into the system.
Question 7: Which of the following is the main reason of poverty in third world countries?
Generation gap.
Communication gap.
Foreign exchange gap
None of the given options.
Question 8: National defense is a good example of:
Public good
Inferior good
Giffen good
Private good
Question 9: An individual with a constant marginal utility of income will be:
Risk loving
Risk neutral
Risk averse
Insufficient information for a decision.
Question 10: If a good is having inelastic demand then if price rises:
Quantity demanded of good rises
Quantity supplied of good falls
Total revenue of good rises
Total revenue of good falls
