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Economics Practice Test 9

Some Determinants of Equilibrium Wage Quiz Questions and Answers PDF - 9

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Some Determinants of Equilibrium Wage Questions and Answers PDF Download: Quiz 9

MCQ 41: If policy makers do not take steps against structural unemployment, it can lead towards higher

A) unemployment rate
B) job seekers rate
C) job losers rate
D) loss of the labor market

MCQ 42: A situation where lowest legal price is to be set for a good to be sold at is called as

A) price ceiling
B) binding
C) shortage
D) price floor

MCQ 43: The rate associated with duties imposed on goods that do not reflect price changes of the goods due to inflation, taxes is known as

A) rate of effective protection
B) revenue effect
C) nominal tariff
D) compound tariff

MCQ 44: One of the elasticity of demand is calculated as the ratio of the percentage change in quantity demanded to the percentage change in his income is known as

A) cross price elasticity of demand
B) income elasticity demand
C) perfect elastic demand
D) perfect inelastic demand

MCQ 45: The activity because of which each trading partner can goods at cheaper rates than otherwise is called as

A) opportunity cost theory
B) international trade
C) local trade
D) embargo trade

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