What are Costs? MCQs with Answers PDF Download – Test 54

MCQ 266: A technical relationship between land, labor, capital and organization is known as:

1. production function
2. production possibility frontier
3. cost function
4. money demand function

MCQ 267: Easy, entertaining and nonmonetary jobs have greater supply of workers as compare to hard, dull and:

1. tough jobs
2. leisure jobs
3. monetary jobs
4. professional jobs

MCQ 268: If one person consuming a good and uses it up that nobody else can consume it is a good known as a:

1. excludable good
2. rivalry good
3. public good
4. bad good

MCQ 269: A grouping of countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members is known as:

1. northern American free trade area
2. free trade area
3. European free trade area
4. economic integration

MCQ 270: The transactions that refers to take place to cover deficit arising from autonomous transactions is known s:

1. foreign exchange payments
2. balance of payments
3. accommodating payments
4. autonomous payments