Externality and Market Efficiency MCQ (Multiple Choice Questions) PDF - 74

MCQ 366: The act of internalizing the externality is to reduce the burden of those who are affected by

1. positive externality
2. embargo
3. tariff
4. negative externality

MCQ 367: The overall measure of all sources of a company's income, including its sales, for a given period of time is known as

1. implicit cost
2. explicit cost
3. total profit
4. total revenue

MCQ 368: The type of income where the consumer spends which at a level consistent with their expected long term average income is called as

1. transitory income
2. permanent income
3. life cycle hypothesis income
4. total income

MCQ 369: The type of good that experiences an increase in quantity demanded as the real income of an individual or economy rises is known as

1. inferior good
2. luxurious good
3. bad good
4. normal good

MCQ 370: Quantity supplied 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