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Economics Admission Tests: Mock Test 97

Production Possibility Frontier with Increasing Costs Quiz Questions and Answers PDF Download - 97

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The Quiz: The situation that implies that each additional producing unit of product A requires that each increasing unit of product B must be given up falls under "Production Possibility Frontier with Increasing Costs" App Download [Free] with answers: decreasing costs of ppf, increasing costs of ppf, constant costs of ppf, and zero costs of ppf for online bachelor degree programs in business administration. Solve standard theory of international trade questions and answers to improve problem solving skills to study online educational courses.

Production Possibility Frontier with Increasing Costs Questions and Answers PDF Download: MCQ 97

MCQ: 481

The situation that implies that each additional producing unit of product A requires that each increasing unit of product B must be given up falls under

  1. increasing costs of PPF
  2. decreasing costs of PPF
  3. zero costs of PPF
  4. constant costs of PPF
MCQ: 482

When one country joins a free trade area with a common external tariff, it causes

  1. trade creation
  2. trade diversion
  3. trade union
  4. trade agreement
MCQ: 483

A trade restriction on the quantity of a good that an exporting country is allowed to export to another country is known as

  1. export subsidy
  2. quota
  3. sanction
  4. voluntary export restraint
MCQ: 484

The type of market where a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers is known as

  1. monopoly
  2. oligopoly
  3. imperfect markets
  4. competitive markets
MCQ: 485

The volume of trade expands proportionately faster than output only when production and consumption are

  1. anti-trade
  2. pro-trade
  3. post-trade
  4. zero

Production Possibility Frontier with Increasing Costs Admission Tests: Economics App & eBook Quizzes

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