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Economics MCQs – Mock Test 66

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Learn International Economic Theories & Policies MCQ App (Android & iOS) with MCQ: "Some countries do impose on the inflow and outflow of the goods and services that lies outside of your own country but don't do it"; with answers: door to door, internally/domestically, market to market, and people to people. Practice globalization of world economy questions and answers to improve problem solving skills for economics guided learning.

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MCQ 326: Some countries do impose on the inflow and outflow of the goods and services that lies outside of your own country but don't do it:

  1. internally/domestically
  2. door to door
  3. people to people
  4. market to market

MCQ 327: The theory that refers to more land, more trade and more gold that equals to more power and more wealth is known as:

  1. absolute advantage
  2. comparative advantage
  3. mercantilist
  4. comparative disadvantage

MCQ 328: The situation where people who are willing to work at or below prevailing wage rates cannot find employment is known as:

  1. fictional unemployment
  2. under employment
  3. unemployment
  4. full employment

MCQ 329: Choosing an investment bond over and investment in shares is an example of:

  1. explicit cost
  2. implicit cost
  3. opportunity cost
  4. zero cost

MCQ 330: When the firm's revenue is equal to the firm's cost, this situation falls under:

  1. abnormal profit
  2. economic losses
  3. normal profit
  4. super normal profit

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