(A) expansionary demand-side policy.
(B) contractionary demand-side policy.
(C) expansionary supply-side policy.
(D) contractionary supply-side policy.
Tag: Economics Mcqs With Answers
A cut in the income tax rate designed to encourage household consumption is an example of?
(A) expansionary demand-side policy.
(B) contractionary demand-side policy.
(C) expansionary supply-side policy.
(D) contractionary supply-side policy.
Involuntary unemployment means that?
(A) people are not willing to work at the going wage rate.
(B) at the going wage rate, there are people who want to work but cannot find work.
(C) there are some people who will not work at the going wage rate.
(D) there is excess demand in the labour market.
A recession is?
(A) a period of declining prices.
(B) a period during which aggregate output declines.
(C) a period of declining unemployment.
(D) a period of falling trade volumes.
Deflation is?
(A) an increase in the overall level of economic activity.
(B) an increase in the overall price level.
(C) a decrease in the overall level of economic activity.
(D) a decrease in the overall price level.
The total demand for goods and services in an economy is known as?
(A) aggregate demand.
(B) national demand.
(C) gross national product.
(D) economy-wide demand.
Aggregate supply is the total amount?
(A) of goods and services produced in an economy.
(B) produced by the government.
(C) of products produced by a given industry.
(D) of labour supplied by all households.
A study of how increases in the minimum wage rate will affect the national unemployment rate is an example of?
(A) descriptive economics.
(B) normative economics.
(C) macroeconomics.
(D) microeconomics.