Economics MCQs with Answers 6

The post is a quiz about economics MCQs with Answers from Basic to Advance. This economics quiz contains 20 multiple-choice questions and will help you with the preparation of Economics MCQs for Lecturer & Subject Specialist Exams. Answer the following multiple-choice questions and press ‘Submit‘ to get your score.

Online MCQs about Economics with Answers

1. The Total Cost (TC) function is given as $TC=200+5Q$. What is the fixed cost?

 
 
 
 

2. Intermediate goods are meant for

 
 
 
 

3. In the complete classical model, a rightward shift of the labor supply curve will

 
 
 
 

4. The price elasticity of demand measures the responsiveness of quantity demanded to

 
 
 
 

5. According to the model of aggregate supply and aggregate demand, in the long run, an increase in the money supply should cause.

 
 
 
 

6. Which of the following is TRUE for a Giffen good?

 
 
 
 

7. Which of the following market situations is much like a pure monopoly except that its member firms tend to cheat on agreed upon price and output strategies?

 
 
 
 

8. The government collects zero revenue if the tax rate is 0%, and if the tax rate is 100% which of the following best describes this statement?

 
 
 
 

9. An increase in supply is shown by

 
 
 
 

10. A good for which income and quantity demanded are inversely related is known as

 
 
 
 

11. Welfare economics is the branch of economics which deals with

 
 
 
 

12. A tax on the accounting profits of corporations is known as

 
 
 
 

13. A firm charges a different price for each unit a consumer purchases. This is called:

 
 
 
 

14. Indifference curves that are convex to the origin reflect:

 
 
 
 

15. As compared to existing firms, a new firm entering in monopolist market has

 
 
 
 

16. To find the profit-maximizing level of output, a firm finds the output level where:

 
 
 
 

17. Which of the following events could cause the aggregate demand curve to shift to the right?

 
 
 
 

18. The price floor results in

 
 
 
 

19. Under the kinked demand curve model, an increase in marginal cost will lead to

 
 
 
 

20. If the money supply is fixed by the central bank then in interest rate money supply space, the money supply curve will be:

 
 
 
 


Economics MCQs with Answers

Economics MCQs with Answers
  • The government collects zero revenue if the tax rate is 0%, and if the tax rate is 100% which of the following best describes this statement?
  • A tax on the accounting profits of corporations is known as
  • If the money supply is fixed by the central bank then in interest rate money supply space, the money supply curve will be:
  • Which of the following is TRUE for a Giffen good?
  • The Total Cost (TC) function is given as $TC=200+5Q$. What is the fixed cost?
  • A good for which income and quantity demanded are inversely related is known as
  • An increase in supply is shown by
  • The price floor results in
  • The price elasticity of demand measures the responsiveness of quantity demanded to
  • Indifference curves that are convex to the origin reflect:
  • To find the profit-maximizing level of output, a firm finds the output level where:
  • As compared to existing firms, a new firm entering in monopolist market has
  • A firm charges a different price for each unit a consumer purchases. This is called:
  • Welfare economics is the branch of economics which deals with
  • Under the kinked demand curve model, an increase in marginal cost will lead to
  • Which of the following market situations is much like a pure monopoly except that its member firms tend to cheat on agreed upon price and output strategies?
  • In the complete classical model, a rightward shift of the labor supply curve will
  • Which of the following events could cause the aggregate demand curve to shift to the right?
  • According to the model of aggregate supply and aggregate demand, in the long run, an increase in the money supply should cause.
  • Intermediate goods are meant for

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