Tests of Economics Economics MCQs 64 Welcome to Shaheen Leader Academy We expect 100% result. Click on Start Button. Your time is Ended. Thanks Economics Quiz 1 / 25 A firm having  least costs combination is :- Marginal firm Optimum firm Equilibrium firm 2 / 25 Which oligopoly models is concerned with the maximization of joint profits :- Collusive model Price leadership model Bertrand's model 3 / 25 Which is not a  function of the new issue  market :- Origination of securities Administration of securities Underwriting of securities 4 / 25 Excess  capacity is not found under :- Monopoly Oligopoly Perfect competition 5 / 25 The learner  index measures :- Price Market power Price marginal cost 6 / 25 It is not included in the estimation of national income:- Illegal income Services of house wifes All are not included Imports 7 / 25 Standard of living  of a country  can be raised  if it increase :- Money supply Labour face Production 8 / 25 The main purpose of a business firm is to earn profit :- False True 9 / 25 An increase in consumption at any given level of income is likely to lead to:- A fall in savings A decrease in import spending A fall in taxation revenue An increase in exports 10 / 25 Less demand in the economy may increase unemployment which lead to less spending which may reduce demand further. This is called:- The downward MPC The downward multiplier The upward accelerator The upward PPF 11 / 25 Ricardo is famous :- Rent theory Profit theory Cost theory 12 / 25 When marginal revenue is zero total revenue is ;- Zero Minimum Maximum 13 / 25 Profit is measured by:- Revenue - total cost Revenue + sales Revenue + fixed cost Revenue - fixed cost 14 / 25 The demand curve facing  a  perfectly  competitive  firm is :- Horizontal Downward sloping Upward sloping 15 / 25 In a recession, GDP:- Grows rapidly Grows negatively Grows by 0% Grows slowly 16 / 25 In a cartel:- Price wars are common None Firm collude Both 17 / 25 If labor productivity per week is 200 units and there are 5 employees what is the total output:- 40 units 195 units 1000 unit 200 unit 18 / 25 A model of game theory of oligopoly is known as the:- Prisoner's Dilemma Jury Box Monopoly cell Jailhouse sentence 19 / 25 Price and demand  are positively correlated  in case of ;- Giffen goods Comforts Normal goods 20 / 25 There are three fundamental questions every society must answer. which of the following is one of these answer:p- How are the goods and services are to be produced What goods and services are to be produced All of them Who will get the goods and services that are produced 21 / 25 According to Keynes , investment means  establishment of new factory ;- True False 22 / 25 Investment is:- an injection that increases aggregate demand A withdrawal that decreases aggregate demand an injection that decreases aggregate demand A withdrawal that increases aggregate demand 23 / 25 Pure profit is the return in excess  of the opportunity cost :- True False 24 / 25 If the marginal revenue is less than the marginal costs then profit maximize a firm should:- none of them reduce output increase costs increase output 25 / 25 A marginal firm is one which  will be the first to leave  the industry , if  the price falls ;- True False Your score is LinkedIn Facebook Twitter VKontakte Restart quiz Apply Here for Online Registration