Micro Economics MCQ (GK Set-1) with Answers

If the expected price next year exceeds the extraction cost by any amount

If the expected price next year exceeds the extraction cost but by less than 5%

If the expected price next year exceeds the extraction cost but by exactly 5%

If the expected price next year exceeds the extraction cost but by more than 5%

They expect the price next year, minus the extraction cost, to equal the figure for this year

They expect the price next year, minus the extraction cost, to exceed the figure for this year by less than 5%

They expect the price next year, minus the extraction cost, to exceed the figure for this year by exactly 5%

They expect the price next year, minus the extraction cost, to exceed the figure for this year by more than 5%

The owners expect the price minus extraction costs to rise each year at the same rate as the rate of interest

The owners expect the price to rise over time until it reaches the choke price

The owners expect the choke price to be reached when the mineral resource is exhausted

In practice, the price may not rise steadily over time, but it will always rise

The income foregone while undertaking the education

The value of any extra enjoyment obtained from education beyond that which would be obtained from working

The fact that undertaking further education signals to employers that they are hard-working ad ambitious

Any scholarships or grants

It raises earnings more than most degrees

It raises earnings by about the average amount for all degrees

It raises earnings by less than most degrees

It has no significant effect on earnings