In the UK, electricity industry parts are a ____ and other parts are ___ ?

Related Mcqs:

1. If the economy is in the recessionary phase of the business cycle, aggregate demand ___ unemployment ____ inflation ___ and the current account of the balance of payments is likely to move towards ____?

   A. falls; falls; falls; surplus
   B. is static; low; rises; deficit
   C. falls; rises; falls; surplus
   D. rises; falls; rises; deficit

2. If the economy is in the expansionary phase of the business cycle, aggregate demand ____ unemployment ____ inflation ____ payments is likely to move towards ____?

   A. falls; rise; falls; surplus
   B. is static; low; rise; deficit;
   C. falls; falls; falls; surplus
   D. rise; falls; rises; deficit

3. In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?

   A. deregulation
   B. making markets contestable
   C. natural monopoly.
   D. cross-subsidization.

4. If VAT rates rise, then costs are likely to ___ and demand is likely to ____?

   A. rise; rise
   B. rise; fall
   C. fall; fall
   D. fall; rise

5. Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?

   A. restrict; promote
   B. restrict; restrict
   C. promote; promote
   D. promote; restrict

6. 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

7. 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

8. Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?

   A. decreases, decreases
   B. decreases, increases
   C. increases, decreases
   D. increases, increases

9. Automatic stabilisers act to ____ government expenditures and ____ government revenues during recessions ?

   A. increase: increase
   B. decrease; decrease
   C. increase; decrease
   D. decrease; increase

10. The long-run Phillips curve is ____ at the ____?

    A. horizontal, natural rate of inflation
    B. horizontal natural rate of unemployment
    C. vertical natural rate of inflation
    D. vertical equilibrium rate of unemployment