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GK
GK Set-1
Economics
Micro Economics
32

Micro Economics MCQ (GK Set-1) with Answers

32) choose the correct option: 1.Self-sufficiency is the best way to increase one’s material welfare.

1-T,2-T,3-F

1-T,2-T,3-T

1-T,2-T,3-T

1-T,2-F,3-F

Answer is:

1-T,2-T,3-T

Micro Economics MCQ (GK Set-1) with Answers

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Related Micro Economics MCQ (GK Set-1) with Answers

33) choose the correct option: 1.If a country’s workers can produce 5 hamburgers per hour or 10 bags of French fries per hour, absent trade, the price of 1 bag of fries is 2

1-F,2-T,3-F

1-T,2-T,3-T

1-T,2-T,3-T

1-T,2-F,3-F

Answer is:

1-F,2-T,3-F

34) choose the correct option: 1.Talented people that are the best at everything have a comparative advantage in the production of everything. 2.The gains from trade can

1-F,2-T,3-F

1-T,2-T,3-T

1-T,2-T,3-T

1-T,2-F,3-F

Answer is:

1-F,2-T,3-F

35) choose the correct option: 1.If Germany’s productivity doubles for everything it produces, this will not alter its prior pattern of specialization because it has not altered i

1-F,2-T,3-F

1-T,2-T,3-T

1-T,2-T,3-T

1-T,2-F,3-T

Answer is:

1-T,2-F,3-T

36) Which of the following claims is NOT true? A distribution of a given amount of goods is inefficient,

if some can still be made better off without making someone else worse off.

if there are still mutually beneficial trades which can be realized.

if I am unhappy with what I have but I cannot find a trading partner because everybody else is happy with what they have

if everybody s wellbeing can be increased simultaneously.

Answer is:

if I am unhappy with what I have but I cannot find a trading partner because everybody else is happy with what they have

Micro Economics MCQ (GK Set-1) with Answers

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