Economics Entrance Exam MCQs – Mock Test 21

Income Determination in Closed Economy Quiz with Answers PDF Download – Test 21

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Free Income Determination in Closed Economy Quiz App Download: Type of investment that accounts both raw and finished items is known as; MCQ with answers: foreign investment, direct investment, inventory investment, and planned investment. Solve income adjustment mechanism and synthesis of automatic adjustments questions and answers to improve problem solving skills for economics student success.

Income Determination in Closed Economy Quiz – Mock Test 21 PDF Download

MCQ 101: The type of investment that accounts both raw and finished items is known as:

direct investment
foreign investment
planned investment
inventory investment

MCQ 102: A case of elasticity that is either be equal to unity or greater than unity or less and vice versa is known as:

elasticity of demand
inelasticity of demand
elasticity of supply
inelasticity of supply

MCQ 103: Most of the production functions do not have straight lines and are:

positive increasing
positive decreasing
negative decreasing
curved

MCQ 104: The type of industry where a single firm is able to supply a product or service at a lower cost as compare to the other firms prevailing in the market is known as:

natural monopoly
monopoly resources
oligopoly
price leadership

MCQ 105: The proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it is known as:

marginal propensity to save
investment function
marginal propensity to consume
saving function

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