economics MCQs – Page 111

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 Review each marked answer and report any item that may be outdated or unclear.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

2201. An increase in injections into the economy may lead to ?
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A. An outward shift of aggregate demand- and demand-pull inflation

B. An outward shift of aggregate supply and cost push inflation

C. An outward shift of aggregate demand and cost push inflation

D. An outward shift of aggregate supply and demand-pull inflation

2202. Refer to Figure 1. The unemployment rate is ?
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A. 3.2 Percent

B. 5.8 Percent

C. Not Enough

D. 5.7 Percent

2203. Surgical instruments are made in ?
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A. Wazirabad

B. Gujranwala

C. Lahore

D. Sialkot

2204. An increase in aggregate demand is more likely to lead to demand pull inflation if ?
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A. Aggregate supply is relatively elastic

B. Aggregate supply is Perfectly inelastic

C. Aggregate supply is unit elastic

D. Aggregate supply is perfectly elastic

2205. All of the following are potential advantages of an international joint venture except ?
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A. establishing work rules promoting higher labor productivity

B. operating at diseconomy-of-scale output levels

C. forestalling protectionism against imports

D. sharing research and development cost among corporations

2206. Which of the following types of unemployment will exist even if the wage is at the competitive equilibrium ?
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A. Unemployment due to unions

B. Frictional Unemployment

C. Unemployment due to efficiency wages

D. Unemployment due to minimum-wage laws

2207. With fixed exchange rates and no private currency flows, when the central bank buys domestic currency the domestic money supply is ?
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A. None of these

B. reduced

C. unaffected

D. increased

2208. The Wah is famous for ?
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A. Ordnance factory

B. Mughal Garden

C. Both of them

D. None of them

2209. In the short run, the supply of capital is ________ and in the long run will depend on _______?
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A. fixed, expectations

B. variable, technology

C. variable, interest rates

D. fixed, rental rate of capital

2210. The migration of employable workers from low-paying nations to high-paying nations tends to decrease ?
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A. the productivity of labor

B. wage disparities

C. total wage income in the world

D. business or capitalist income in the world

2211. The basket on which the CPI is based is composed of ?
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A. consumer production

B. raw materials purchased by firms

C. Products purchased by the typical consumer

D. none of these answers

E. total current production

2212. Public goods are difficult for a private market to provide due to ?
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A. The free-rider problem.

B. the rivalness problem

C. the Tragedy of the Commons.

D. the public goods problem

2213. The business cycle is not transmitted from one country to another through ?
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A. labor supply changes

B. private sector imports and exports

C. the duration of compulsory education

D. economic policy

2214. Which of the following would probably cause the CPI to rise more than the GDP deflator in the Pakistan ?
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A. An increased in the Price of domestically produced armoured vehicles sold exclusively to Iran

B. An increase in the price of helicopters purchased by the Pak Navy.

C. An increase in the price of BMWs produced in Germany and sold in the Pakistan

D. An increase in the price of Peugeots produced in the Pakistan

2215. Refer to Figure 24-1 What is the value of the basket in the base year ?
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A. None of these

B. Rs459.25

C. Rs300

D. Rs418.75

2216. If the US economy is forecast to come out of recession because military expenditure has increase then the exchange value of the UK pound will tend to ?
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A. not be affected

B. appreciate

C. fluctuate more than it would do therwise

D. depreciate

2217. A common resource is ?
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A. not rival but excludable

B. both rival and excludable

C. rival but not excludable

D. neither rival nor excludable

2218. Which of the following statements regarding discrimination is true ?
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A. The existence of a wage differential among groups is strong evidence of discrimination in the labour market

B. Discrimination cannot exist in a competitive labor market

C. Bigoted employers are the main source of a persistent discriminatory wage differential in a competitive market

D. Discrimination can only persist in a competitive labour market it customers are willing to pay to maintain the discriminatory practice or the government requires discrimination

2219. If there is an increase in the price of apples which causes consumers to purchase fewer kilograms of apples and more kilograms of oranges, the CPI will suffer from ?
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A. bias due to unmeasured quality change

B. bias due to the introduction of new goods.

C. none of these answers

D. substitution bias

E. base year bias

2220. Union might increase efficiency in the case Where they ?
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A. Raise the wage for insiders above the competitive equilibrium

B. Threaten a strike but dont actually follow through so there are not lost hours of work

C. Offset the market power of a large firm that is the dominant employer in a region

D. Lower the wage of local outsiders

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