Federal Government Quiz with Answers PDF Download – Test 49

MCQ 241: An indicator of financial health in which expenditures exceed revenue is known as:

1. budget surplus
2. budget deficit
3. fiscal challenge
4. monetary challenge

MCQ 242: The rate at which a consumer is ready to give up one good in exchange for another good while maintaining the same level of utility is known as:

1. marginal rate of transformation
2. marginal rate of technical substitution
3. marginal rate of substitution
4. marginal opportunity costs

MCQ 243: At point where there is high prices and low quantity demanded and vice versa is the situation where demand curve is:

1. constant
2. inelastic
3. irregular
4. elastic

MCQ 244: The idea that firms may permanently hold to a real wage greater than the equilibrium wage is called as:

1. striking wages
2. efficient wages
3. premium wages
4. surplus wages

MCQ 245: The concept which relates with the cost advantage that arises with increased output of a product is known as:

1. Leontief paradox
2. economies of scale
3. increasing return to scale
4. decreasing return to scale