Economics MCQ 3

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Economics MCQ 3

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Which feature is not a typical characteristic of a developed country?

1 point

a high death rate

a high literacy rate

a large elderly population

a low number of doctors per head.

Clear selection

Who is most likely to benefit during a period of inflation

1 point

creditors (lenders)

fixed income earners

debtors (borrowers)

holders of cash.

Clear selection

A government lowers the rate of interest. ,Who is most likely to be disadvantaged by this policy

1 point

house buyers

savers.

manufacturers

retailers

Clear selection

Which is a supply-side policy that would increase output in the long-run

1 point

an increase in benefit payments

an increase in the rate of income tax

an increase in places at training colleges

an increase in the rate of tax employers pay

Clear selection

What is most likely to cause economic growth.

1 point

higher taxation.

a better educated workforce

a reduction in the right to own property

decreased wages

Clear selection

What is an advantage of international specialisation

1 point

resources are used more efficiently

choice is limited

countries become overdependent on each other

transport costs are decreased.

Clear selection

What is the basic economic problem?

1 point

finite resources and limited wants

infinite resources and limited wants

finite resources and unlimited wants

infinite resources and unlimited wants.

Clear selection

New oil reserves are discovered. What has increased in supply

1 point

capital

land

enterprise

labour

Clear selection

What may exist in monopoly but not in perfect competition.

1 point

barriers to entry

identical products

market price

: perfect knowledge.

Clear selection

What is most likely to cause a fall in the rate of inflation?

1 point

an increase in consumer spending

an increase in import prices

an increase in wage rates.

an increase in income tax

Clear selection

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