As resources are shifted from one industry to another this can be shown by ?

Related Mcqs:

1. A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?

   A. £35
   B. £15
   C. £30
   D. £60

2. Suppose an industry emits a negative externality such a pollution and the possible methods to internalize the externality are command-and-control policies, pigovian taxes, and tradable pollution permits. If economists were to rank these methods for internalizing a negative externality based on efficiency ease of implementation and the incentive for the industry to further reduce pollution in the future, they would probably rank them in the following order (from most favored to least favored) ?

   A. Pigouvian taxes, command-and-control policies, tradable pollution permits.
   B. tradable pollution permits, Pigouvian taxes, command-and-control policies
   C. tradable pollution permits command-and-control policies, Pigovian taxes.
   D. command-and-control policies, tradable pollution permits, Pigovian taxes.
   E. They would all rank equally high because the same result can be obtained from any one of the policies

3. Where a tax can be shifted, the incidence depends on ?

   A. Whether there is perfect or imperfect information
   B. elasticities of demand and supply
   C. how many producers there are:
   D. who is legally obliged to pay the tax

4. Where a tax can be shifted the incidence depends on ?

   A. whether there is perfect or imperfect information
   B. who is legally obliged to pay the tax
   C. elasticities of demand and supply
   D. how many producers there are:

5. The Industrial Revolution shifted the emphasis in ownership from land to______________?

   A. gold and silver
   B. the means of production machines tools materials
   C. serfs
   D. precious spices

6. Economic growth can be shown by ?

   A. An inward shift of the production possibility frontier
   B. A movement along the production possibility frontier
   C. An outward shift of the production possibility frontier
   D. A decision by the government to produce inside the production possibility frontier

7. The resources in the economy do not include ?

   A. Demand
   B. Land
   C. Labour
   D. Capital

8. The resources in an economy are ?

   A. Constantly increasing
   B. Fixed at any moment
   C. Constantly decreasing
   D. Able to be transferred easily between industries

9. Maximum profit can be shown on a diagram using ?

   A. the MR and MC curves
   B. the AC and AR curves
   C. the AC and MC curves
   D. the MR and AR curves

10. Income inequalities are often shown on a ?

    A. production possibility curve
    B. marginal inequality curve
    C. sen curve
    D. Lorenz curve