Economics MCQs – Mock Test 9

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MCQ 41: If policy makers do not take steps against structural unemployment, it can lead towards higher:

unemployment rate
job seekers rate
job losers rate
loss of the labor market

MCQ 42: A situation where lowest legal price is to be set for a good to be sold at is called as:

price ceiling
binding
shortage
price floor

MCQ 43: The rate associated with duties imposed on goods that do not reflect price changes of the goods due to inflation, taxes is known as:

rate of effective protection
revenue effect
nominal tariff
compound tariff

MCQ 44: One of the elasticity of demand is calculated as the ratio of the percentage change in quantity demanded to the percentage change in his income is known as:

cross price elasticity of demand
income elasticity demand
perfect elastic demand
perfect inelastic demand

MCQ 45: The activity because of which each trading partner can goods at cheaper rates than otherwise is called as:

opportunity cost theory
international trade
local trade
embargo trade

Economics Quiz App & eBook – Some Determinants of Equilibrium Wage Admission Tests

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