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Economics Study Guide: Mock Test 38

Production Possibility Frontier with Increasing Costs MCQs (Multiple Choice Questions) PDF Download - 38

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Production Possibility Frontier with Increasing Costs MCQ with Answers PDF Download: Quiz 38

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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