Economics MCQs – Mock Test 74

Externality and Market Efficiency MCQs with Answers PDF Download – Test 74

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The "Externality & Market Efficiency MCQ" App Download (Android & iOS): Act of internalizing the externality is to reduce the burden of those who are affected by; MCQ with answers: embargo, positive externality, negative externality, and tariff. Practice externalities questions and answers to improve problem solving skills for economics financial careers.

Externality & Market Efficiency MCQs – Mock Test 74 PDF Download

MCQ 366: The act of internalizing the externality is to reduce the burden of those who are affected by:

positive externality
embargo
tariff
negative externality

MCQ 367: The overall measure of all sources of a company's income, including its sales, for a given period of time is known as:

implicit cost
explicit cost
total profit
total revenue

MCQ 368: The type of income where the consumer spends which at a level consistent with their expected long term average income is called as:

transitory income
permanent income
life cycle hypothesis income
total income

MCQ 369: The type of good that experiences an increase in quantity demanded as the real income of an individual or economy rises is known as:

inferior good
luxurious good
bad good
normal good

MCQ 370: Quantity supplied and prices of a commodity are when drawn on a graph gives you a picture of:

supply curve
IS-LM curve
demand curve
isoquant

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