In aukarky, when a community maximizes its standard of living, its production and consumption point is ?

Related Mcqs:

1. In autarky, when a community maximizes its standard of living its production point is ?

   A. below the production possibility frontier
   B. on the production possibility frontier
   C. above the production possibility frontier
   D. can’t tell without more information

2. Suppose an oligopolist individually maximizes its profits. When calculating profits, if the output effect exceeds the price effect on the marginal unit of production, then the oligopolist ?

   A. Should produce more units
   B. has maximized profits.
   C. is in a Nash equilibrium
   D. Should produce fewer units
   E. should exit the industry.

3. Which index combines measures of calorie availability (in relation to requirement) the growth of per capita daily energy supply food production food staples self-sufficiency, and variability of food production and consumption ?

   A. food sufficiency index
   B. food security index
   C. food self-intake index
   D. food growth index

4. A linear consumption function with a positive slope less than one means that if income increases consumption will ?

   A. fall
   B. not change
   C. fluctuate
   D. increase

5. If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 total consumption is what ?

   A. 0.8
   B. 800
   C. 810
   D. 0.81

6. If the consumption of good by one person does not reduce the quantity available by others and nobody can be easily excluded from consumption, we are referring to a ?

   A. Private good
   B. merit good
   C. public good
   D. abundant good

7. The standard of living in a country is represented by its ?

   A. National income
   B. Per capita income
   C. Poverty ratio
   D. None of these

8. A monopolist maximizes profit by producing the quantity at which ?

   A. marginal revenue equals marginal cost
   B. marginal revenue equals price
   C. marginal cost equals price
   D. marginal cost equals demand
   E. none of these answers

9. Workers in Western Europe enjoy a high standard of living because ?

   A. the countries of Western Europe have set high minimum wage rates.
   B. Unions in Western Europe keep the wage high
   C. none of these answers.
   D. The countries of Western Europe have protected their industries from foreign corporation
   E. Workers in the united states are highly productive

10. A reasonable measure of the standard of living in a country is ?

    A. real GDP per person
    B. nominal GDP per person.
    C. Real GDP
    D. The growth rate of nominal GDP per person