economics MCQs – Page 105

Practise multiple-choice questions from economics for competitive examinations and subject revision. Review each marked answer and report any item that may be outdated or unclear.

economics Mcqs

1. the national economy 2. profit maximizing under perfect competition and monopoly 3. application of economics 4. the aggregate demand aggregate supply model 5. surplus 6. money interest rates and output 7. average and total cost 8. stabilization adjustment reform and privatization 9. risks and diversification efficient market hypothesis 10. the phillips curve 11. supply and demand 12. capital formation investment choice information technology and technical progress 13. aggregate supply unemployment and inflation 14. elasticity 15. comparative gdp 16. roots of modern macroeconomics 17. production factors 18. poverty malnutrition and income inequality 19. trade regulations and industrial policies 20. monetary union 21. exchange rate systems and currency crises 22. economic development in historical perspective 23. exchange rate determination 24. monopoly competition 25. the balance of payments 26. inflation productivity 27. macroeconomic issues and analysis 28. employment migration and urbanization 29. macroeconomic policy tools 30. supply side policies 31. exchange rate adjustments and the balance of 32. miscellaneous 33. taxation 34. trade policies for the developing nations 35. markets efficiency and the public interest 36. the external debt and financial crises 37. budget deficits and the trade balance 38. alternative theories of the firm 39. public goods 40. the meaning and measurement of economic development 41. characteristics and institutions of developing countries 42. agriculture irrigation system of pakistan 43. education health and human capital 44. economic problems of developing countries 45. theories of economic development 46. basic of economics 47. consumer theory vs real consumers 48. applied microeconomics 49. long term economic growth 50. externality internality 51. fiscal and monetary policy 52. prices wages taxes 53. balance of payments aid and foreign investment 54. international factor movements and multinational corporations 55. entrepreneurship organization and innovation 56. the international economy and globalization 57. population and development 58. non tariff trade barriers 59. foundations of modern trade theory 60. global economic development 61. market 62. rural poverty and agricultural transformation 63. regional trading arrangements 64. foreign exchange 65. introduction to economics 66. world economy miscellaneous 67. sources of comparative advantage 68. natural resources and the environment toward sustainable development 69. monopoly 70. asymmetric information 71. income inequality 72. labour market 73. tariffs 74. development planning and policy making the state and the market 75. oligopoly 76. industrial development 77. costs supply and perfect competition 78. human capital 79. monetary fiscal and incomes policy and inflation 80. stocks

2081. The competitive advantage from a devaluation is likely to be offset by _______ and ________?
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A. higher import prices, lower export prices

B. higher import prices, higher wages increases

C. lower export prices, lower imports volumes

D. higher wage increases lower import volumes

2082. Aggregate demand is the total demand for all goods and services in an economy from ?
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A. all sectors of the economy including the rest of the world.

B. the household and government sectors

C. all sectors of except the rest of the world

D. the household sector.

2083. A price reduction to buyers who buy in large volumes is called a(n) ?
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A. cash discount

B. quantity discount

C. trade discount

D. seasonal discount

2084. The allocation of resources is not efficient if ?
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A. economic growth is low

B. the marginal cost of production does not equal societys marginal benefit

C. the distribution is inequitable

D. unemployment is high

2085. A competitive equilibrium is Pareto-efficient because ?
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A. prices equal marginal cost and benefit

B. All of the above

C. consumers and producers face the same prices

D. marginal costs and benefits are equal

E. Producers are price takers

2086. Which of the following is not involved with fiscal policy ?
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A. VAT

B. National insurance

C. Income tax

D. Interest insurance

2087. If a large car importer in the Pakistan wants to import many cars, then the exchange value of the Pak rupees will tend to ?
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A. fluctuate more than it would do otherwise

B. not be affected

C. depreciate

D. appreciate

2088. Which of the following statements is true about the impact of an increase in the price of lettuce ?
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A. Both the demand for lettuce will decrease and the equilibrium price and quantity of salad dressing will fall

B. The supply of lettuce will decrease

C. The demand for lettuce will decrease

D. The equilibrium price and quantity of salad dressing will fall

E. The equilibrium price and quantity of salad dressing will rise

2089. If a consumer describes a car as being the most economical car on the market than this descriptor is a?
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A. cute

B. attitude

C. belief

D. rule

2090. As prices rise, there will be costs of constantly changing price-tags and reprinting price-lists This is called ?
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A. real balance effect

B. money illusion.

C. cost-push inflation.

D. menu costs of inflation

2091. When money demand is expressed in a graph with the interest rate on the vertical axis and the quantity of money on the horizontal axis an increase in the interest rate ?
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A. increase the quantity demanded of money

B. decreases the demand for money

C. increases the demand for money

D. None of these answers

E. decrease the quantity demanded of money

2092. If a companys objective were to reach masses of buyers that were geographically dispersed at a low cost per exposure the company would like choose which of the following promotion forms ?
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A. Advertising

B. Sales promotion

C. Public relations

D. Personal selling

2093. Which of the following shifts the demand for watches to the right ?
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A. none of these answers

B. a decrease in the wage of workers employed to manufacture watches

C. a decrease in consumer incomes if watches are a normal good

D. a decrease in the price of watch batteries if watch batteries and watches are complements

E. an increase in the price of watches

2094. The social costs of monopoly power arises because ?
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A. price is less than marginal cost

B. marginal consumer benefit is less than marginal revenue

C. there is too little output at too high a cost

D. marginal cost is set equal to marginal revenue

2095. Classifying discouraged workers as unemployed would ?
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A. increase the unemployment rate

B. have an indeterminate impact on the unemployment rate

C. not change the unemployment rate

D. decrease the unemployment rate

2096. The difference between gross investment and net investment is ?
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A. inventories

B. depreciation of the existing capital stock

C. productive investment

D. dwellings

2097. If inflation is 8 percent and the real interest rate is 3 percent, then the nominal interest rate must be ?
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A. 3/8 percent

B. 5 percent

C. 11 percent

D. 24 percent

2098. If currency dealers expect the value of the pound to fall, the exchange value will tend to ?
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A. not be affected

B. depreciate

C. appreciate

D. fluctuate more than it would do therwise

2099. The substitution effect of higher wages suggests that as the wage rate increases ?
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A. leisure becomes less expensive and households buy more of it

B. leisure becomes more expensive and households buy more of it

C. leisure becomes less expensive and households buy less of it.

D. leisure becomes more expensive and households buy less of it

2100. The migration of employable workers from low-paying nations to high-paying nations will ?
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A. increase business or capitalist incomes in the high-paying nations

B. decrease wage rates in the low-paying nations

C. increase business or capitalist incomes in the low-paying nations

D. decrease productivity and real output in the world

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