Micro Economics MCQ (GK Set-1) with Answers

Micro Economics MCQ (GK Set-1) with Answers

431) Which of the following groups of people are not regarded as economically inactive?

Answer is:

People who want a job but do not have one

432) Which of the following statements is false as far as the UK is concerned?

Answer is:

The unemployment rate for males is lower than the rate for females

433) If all the following events occurred in 2013, which one would put upward pressure on the rate of natural unemployment in the UK in 2013?

Answer is:

Much tighter regulations for the UK financial services industry

434) Which of the following will not cause the level of unemployment to settle above the level where the aggregate supply curve of labour intersects the aggregate demand curve for labour?

Answer is:

Hysteresis

435) What is the main reason that led classical economists to believe that the government need not respond to a demand shock which led to unemployment?

Answer is:

Real wages are highly flexible

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