Micro Economics MCQ (GK Set-1) with Answers

macroeconomic

microeconomic

statements of description that can be tested

statements of prescription that involve value judgments

40 units of eggs

20 units of eggs

30 units of eggs

50 units of eggs

the opportunity cost of 20 additional units of eggs is 10 units of bacon.

the opportunity cost of 20 additional units of eggs is 20 units of bacon.

the opportunity cost of 20 additional units of eggs is 30 units of bacon

20 additional units of eggs can be produced with no impact on bacon production.

a combination of production that can be reached if we reduce the production of eggs by 20 units

a combination of production that can be reached if there is a sufficient advance in technology

a combination of production that is inefficient because there are unemployed resources

none of these answers

the opportunity cost of eggs in terms of bacon falls

the opportunity cost of eggs in terms of bacon rises.

the opportunity cost of eggs in terms of bacon is constant

the economy becomes less efficient