when a market is in equilibrium ?
A. quantity demanded equals quantity supplied
B. Excess demand and excess supply are zero
C. The market is cleared by the equilibrium price
D. All of the above
Economics Mccqs
Explore a comprehensive collection of Economy MCQs covering all essential topics including macroeconomics, microeconomics, international trade, fiscal policy, economic theories, and more. Perfect for students, professionals, and exam preparation
If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?
A. a nonlinear relationship
B. a positive linear relationship
C. a scatter diagrams
D. a negative linear relationship
A straight-line diagram can be drawn knowing the ________ and ________?
A. vertical axis and horizontal axis
B. intercept and slope
C. scale and slope
D. intercept and scale
A real value can be derived from a nominal value by ?
A. adjusting for changes over time
B. adjusting for data collection errors
C. adjusting for population changes
D. adjusting or changes in prices
Time series data show information ?
A. about the same point in time over different places
B. about different points in time over the same variable
C. about different variables over different places
D. about different points in time over different places
Macroeconomics is the study of ?
A. individual building blocks in the economy
B. the relationship between different sectors on the economy
C. household purchase decisions
D. the economy as a whole
In the mixed economy________________?
A. economics problems are solved by the government and market
B. economic decisions are made by the private sector and free market
C. economic allocation is achieved by the invisible hand
D. economics s is solved by government departments
A market can accurately be described as_________________?
A. a place to buy things
B. a place to sell things
C. the process by which prices adjust to reconcile the allocation of resources
D. a place where buyers and sellers meet
Which of the following is not part of the opportunity cost of going on holiday ?
A. The money you spent on a theater show
B. The money you could have made if you had stayed at home and worked
C. The money you spend on airline tickets
D. the money you spent on food
An increase in the price of beef providers information which ?
A. provides no information because prices in a market system are managed by planning boards.
B. tells consumers to buy less pork
C. tells producers to produce more beef.
D. tells consumers to buy more beef.
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