Economics Entrance Exam MCQs – Mock Test 29

Trade Creating Custom Unions Quiz with Answers PDF Download – Test 29

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Trade Creating Custom Unions Quiz – Mock Test 29 PDF Download

MCQ 141: When countries start entering into free trade areas, it helps to remove the barriers between countries such as:

taxes
embargoes
tariffs
sanctions

MCQ 142: The change in output associated with a change in that factor, holding other inputs into production constant is called as:

marginal propensity to consume
marginal propensity to save
marginal product of labor
average product of labor

MCQ 143: A situation where two markets are offering same products but with different charges, let you fall in the category of:

competition
agreement
fight
rivalry

MCQ 144: If one country has an absolute advantage in operating call centers compared to the other country because of it's low cost of labor and low labor force is a best example of:

comparative advantage
mercantilism
absolute advantage
comparative disadvantage

MCQ 145: Markets properly runs only when:

property rights are enforced
encourages public goods
people demand less
there's externality

Trade Creating Custom Unions Quiz App & eBook – Economics Textbook Tests

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