Topic Questions (MCQ – EASY): Economic methodology – 3auk

Which of the following statements about trade unions is a value judgment?

Trade unions deserve to receive legal protection as they aim to protect their members' interests.

Income distribution is more equal in countries where trade unions are strong.

The wage gap between different industries has widened due to uneven trade union membership.

Technical progress tends to be slower in industries where trade unions have a strong presence.

What does the term 'ceteris paribus' mean in economic analysis?

The analysis is based on personal values and beliefs.

The impact of one variable is being studied while holding other variables constant.

To produce more of one good, less of another good must be produced.

One factor of production is fixed while the others vary.

What is the difference between the very long run and the long run in economics?

The ability to change the allocation of resources.

The ability to change the state of technology.

The absence of government market intervention.

The presence of variable factors of production.