( Best 200+ ) Basics of Economics MCQ

by Mr. DJ

Basics of Economics MCQ

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Basics of Economics MCQ

Basics of Economics MCQ

161. Which of the following items does not include in the group?

A. consumption

B. investment

C. rate of interest

D. net exports

162. If marginal propensity to consume is 0.8, the value of multiplier will be:

A. 1

B. 2.5

C. 5

D. 2

163. Who is known as the father of Modern Economics?

A. adam smith

B. j.m.keynes

C. robinson

D. ricardo

164. Goods without which people can not live are called:

A. comforts

B. luxuries

C. necessaries

D. none

165. The problem of what to produce is a problem of:

A. distribution

B. technological choice

C. consumption

D. allocation of resources

166. Those things that possess both utility and scarcity are called:

A. economic goods

B. free goods

C. intermediate goods

D. luxuries

167. If a worker specializes in the production of a single good, it is called:

A. product based division of labour

B. process based division of labour

C. worker based division of labour

D. none of these

168. Goods produced for use in future productive process are called:

A. intermediate goods

B. final goods

C. consumer goods

D. capital goods

169. In a horizontal straight line demand curve, the price elasticity of
demand is:

A. unity

B. infinity

C. zero

D. less than one

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