Economics Mcqs
Income distribution according to productive contribution is____________?

A. Efficient but inequitable
B. Inefficient but equitable
C. Efficient and equitable
D. A tenet of communism

In economic growth it is important to consider________________?

A. The quantity of capital and labor
B. The quality of capital and labor
C. The quality of the labor force
D. All of the above

One of the functions of public policy is to________________?

A. Mediate among conflicting economic goals
B. Plan to ensure the correct mix of supply and demand
C. Ensure that everyone is a sinner in the economy
D. None of the above

The Keynesian revolution acknowledged_________________ ?

A. That the masses were being exploited
B. That the market was inherently unstable
C. The need for the intervention of the owners of the means of production
D. That industrial workers were becoming the new bourgeosiie

During and after a depression the government can use fiscal policy through its powers of_____________?

A. Spending and taxation
B. Wage regulation
C. Income ceilings
D. Bank regulation

Engineers lawyer’s investment bankers’ top CEOs entertainers and so on are described as_____________?

A. Nouveau riches
B. Generation x-ers
C. Baby boomers
D. Symbolic analysts

What is the Phillips curve ?

A. A reference to a government economist favoring high taxes
B. A special kind of screw driver that reflects the functioning of the economy
C. A graphic representation of conflict between full employment and inflation
D. A deflationary curve