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Economics MCQs – Mock Test 38

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Production Possibility Frontier with Increasing Costs MCQs – Mock Test 38 PDF Download

MCQ 186: The curve that restricts to produce to improve the efficiency of the economy is known as:

  1. indifference curves
  2. isoquants
  3. production possibility frontier
  4. IS-LM curve

MCQ 187: The relationship between wealth and nation's welfare is always:

  1. negatively sloped
  2. positively sloped
  3. zero relationship
  4. stagnant relationship

MCQ 188: The practice in which different companies reduces costs by transferring portions of work to outside suppliers rather than completing it internally is known as:

  1. outreaching
  2. outsourcing
  3. off shoring
  4. international trade

MCQ 189: The concept regarding to equality or idea of fairness in economics, particularly in regard to taxation or welfare economics is called as:

  1. efficiency
  2. equilibrium
  3. surplus
  4. equity

MCQ 190: Where firm desire whom to hire and what to produce is called:

  1. leadership
  2. market economy
  3. monopoly
  4. wealth of nations

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