Externality and Market Efficiency MCQ (Multiple Choice Questions) PDF - 70

MCQ 346: A benefit that is enjoyed by a third-party as a result of an economic transaction is known as

1. negative externality
2. externality
3. public good
4. positive externality

MCQ 347: The type of tariff which let increases the costs to sell the domestic products across the nation's boundaries is known as

1. import tariff
2. ad valorem tariff
3. specific tariff
4. export tariff

MCQ 348: Quantity demand and prices of a commodity are when drawn on a graph gives you a picture of

1. supply curve
2. IS-LM curve
3. demand curve
4. isoquant

MCQ 349: An economic term in which trade is distorted from an efficient exporter towards a less efficient one by the formation of custom unions is known as

1. trade union
2. trade creation
3. trade bloc
4. trade diversion

MCQ 350: The type of trade theory which recommends that a country's best interest is to maintain a

1. trade deficit
2. trade equilibrium
3. trade surplus
4. zero trade