Economics - Economic Planning MCQ Test 4

1. How does 'inflation' impact an economy?

2. Define 'sports economics' and its examination of the economic aspects of the sports industry.

3. Define the term 'opportunity cost' in economics.

4. Explain the concept of 'externalities' in economic decision-making.

5. What is the 'Triffin dilemma' and its implications for international monetary systems?

6. Explain the 'human capital theory' in the economics of education.

7. Explain the concept of 'stagflation' in macroeconomics.

8. What role does the labor force participation rate play in measuring employment?

9. Define 'cultural economics' and its exploration of the relationship between culture and economic activities.

10. Define 'GDP per capita' and its significance in economic analysis.

11. Define 'institutional economics' and its examination of the impact of institutions on economic behavior.

12. What is 'economic rent' in the context of microeconomics?

13. Examine the concept of 'strategic planning' and its application in economic policy.

14. Define the term 'monopoly' in the context of market structures.

15. Explain the concept of 'elasticity of demand.'

16. What is the difference between absolute advantage and comparative advantage?

17. Explain the concept of 'income elasticity of demand.'

18. What is the role of fiscal policy in economic planning?

19. What is the role of 'foreign direct investment (FDI)' in economic development?

20. What role does 'monetary policy' play in economic planning?