Economics Mcqs — Test 91
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Question 1
Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________?
Question 2
Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
Question 3
Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
Question 4
A widely used indicator to differentiate developed countries from developing countries is ?
Question 5
For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?
Question 6
Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?
Question 7
Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
Question 8
Economic growth occurs because ?
Question 9
The OPEC oil cartel ?
Question 10
The People’s Republic of China ?