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Economics Practice Test 49

Federal Government Quiz Questions and Answers PDF - 49

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Federal Government Questions and Answers PDF Download: Quiz 49

MCQ 241: An indicator of financial health in which expenditures exceed revenue is known as

A) budget surplus
B) budget deficit
C) fiscal challenge
D) monetary challenge

MCQ 242: The rate at which a consumer is ready to give up one good in exchange for another good while maintaining the same level of utility is known as

A) marginal rate of transformation
B) marginal rate of technical substitution
C) marginal rate of substitution
D) marginal opportunity costs

MCQ 243: At point where there is high prices and low quantity demanded and vice versa is the situation where demand curve is

A) constant
B) inelastic
C) irregular
D) elastic

MCQ 244: The idea that firms may permanently hold to a real wage greater than the equilibrium wage is called as

A) striking wages
B) efficient wages
C) premium wages
D) surplus wages

MCQ 245: The concept which relates with the cost advantage that arises with increased output of a product is known as

A) Leontief paradox
B) economies of scale
C) increasing return to scale
D) decreasing return to scale

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Federal Government App (Android & iOS)

BBA Economics App (Android & iOS)

BBA Economics App (Android & iOS)

Marketing Management App (Android & iOS)

Marketing Management App (Android & iOS)

Cost Accounting App (Android & iOS)

Cost Accounting App (Android & iOS)