Economics Certification MCQs – Mock Test 87

Production Possibilities Notes Questions with Answers PDF Download – Test 87

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Production Possibilities MCQs – Mock Test 87 PDF Download

MCQ 431: If USA is producing 6 units of potatoes and 4 units of onions, Pakistan has got potato:

comparative disadvantage
specialization
gains from trade
comparative advantage

MCQ 432: If there is 20 percent increase in the prices of popcorns causes the amount of popcorns you are buying to fall by 40 percent, what will be the price elasticity of demand?

10 percent
15 percent
20 percent
25 percent

MCQ 433: A rate applicable to a financial transaction that will take place in the future is known as:

spot rate
exchange rate
forward rate
currency swaps

MCQ 434: The sum of all expenses paid to produce a product, purchase an investment, or acquire a piece of equipment including not only the initial cash outlay but also the opportunity cost of their choices is known as:

implicit cost
explicit cost
total cost
total revenue

MCQ 435: The demand curve of a monopolistic firm will always be:

upward sloping
straight line
downward sloping
horizontal

Production Possibilities Notes App & eBook – Economics Certification Guide

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