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Economics Past Questions and Answers

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Economics Questions

Question 3836:

Product homogeneity is one of the<br/>characteristics of

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A Perfect competition
B Monopoly
C Monopolistic competition
D Oligopoly
E Competition

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Question 3837:

Which of the following is compatible with a firm in a purely competitive market?

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A Demand is inelastic
B Demand is infinitely elastic
C Marginal cost is falling
D Price is greater than marginal cost
E Price is less than marginal cost

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Question 3838:

The difference between gross national product and net national product is equal to ___

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A Gross investment
B Net investment
C Net foreign income
D Capital depreciation
E Net and gross

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Question 3839:

The difference between the Gross<br/>Domestic Product and the Gross National Product is the___

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A Allowance for total depreciation
B Total interest payments
C Total tax and interest payments
D Net income from abroad
E None of the above

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Question 3840:

The multiplier is defined as ____

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A The ratio of the change in income to the change in investment
B The change in investment divided by the change in income
C 1/(MPC)
D 1/(1-MPS)
E Process of multiplying initial increase in income

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