81. Which economic term is used to represent inequality in income distribution?
(A) GDP
(B) GNP
(C) Gini
(D) HDI

82. The value of the good or service forgone by choosing another investment is called

(A) opportunity cost
(B) purchasing power parity
(C) disposable income
(D) consumer price index

83. The central role of markets is to determine the
(A) quality of goods
(B) quantity of goods
(C) level of income
(D) price of goods

84. What is the function of a central bank (or a state bank)?
(A) taking deposits from the people
(B) implementing monetary policy
(C) lending to businesses
(D) determining inflation and tax rates

85. The branch of economics concerned with overall performance of the economy is known as
(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Keynesian Economics

86. The branch of economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as
(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Keynesian Economics

87. The branch of economics concerned with the behavior of markets, firms, and households is known as
(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Bayesian Economics

88. An economy is producing efficiently when no individual’s economic welfare can be improved unless
(A) supply is increased
(B) demand is increased
(C) someone else is improved
(D) someone else is made worse off

89. Taxes are used to discourage __________ of a commodity.
(A) consumption
(B) production
(C) saving
(D) inflation

90. Subsidies are used to encourage __________ of a commodity.
(A) consumption
(B) production
(C) saving
(D) inflation

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