economics MCQs – Page 132

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 Review each marked answer and report any item that may be outdated or unclear.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

2621. If a firm is not operating at the output necessary to achieve all scale economies, it has not achieved its ?
0

A. Average efficient scale

B. Minimum efficient scale

C. Maximum efficient scale

D. Efficient scale

2622. Labor productivity is higher in DCs such as Japan and Germany than LDCs due to ?
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A. high formal education and training

B. better health and physical condition of the labor force

C. Both a and b are correct

D. None of the above is correct

2623. If the income elasticity of demand for a good is negative it must be ?
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A. a luxury good

B. an elastic good

C. an inferior good

D. a normal good

2624. uppose a consumer must choose between the consumption of sandwiches and pizza. If we measure the quantity of pizza on the horizontal axis and the quantity of sandwiches on the vertical axis and if the price of a pizza is Rs10 and the price of a sandwich is Rs5, then the slope of the budget constraint is ?
0

A. 2

B. 5

C. 2-Jan

D. 10

2625. Perestroika in the former Soviet Union refers to ?
0

A. economic restructuring by Gorbachev

B. None of the above

C. intensified central planning

D. total market reliance for resource allocation

2626. If income where to double and prices were to to double the budget line would ?
0

A. shift outward in a parallel fashion

B. shift inward in parallel fashion

C. stay the same

D. rotates outward

E. rotate inward

2627. The disease burden could be measured by calculating _________ combining years lost through premature death and from living with disability?
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A. mortality-adjusted lifelong

B. disability-adjusted life years

C. premature living age

D. life mortality-fertility ratio

2628. Suppose a project results in a net stream of $200 per year for 4 years, but nothing thereafter, Assume that the discount rate is 5 percent. The discounted value of the total income stream over the 4-year period is ?
0

A. less than zero

B. 40,000

C. more than zero but less than 800

D. 800

2629. Two or more nuclear families of parent(s) and children is known as ?
0

A. two-tier family tree

B. institutional family

C. dual family

D. extended family

2630. Debt-re-scheduling is ?
0

A. regular payments of interest and repayments of capital

B. an agreement with the World Bank to turn some of a debt into other forms

C. a change in debt repayment due to inability to pay

D. a program of austerity measures agreed with the IMF to make repayment possible

2631. Market price adjusted to consider differences between social cost-benefit and private cost-benefit calculations are ?
0

A. exchange rates

B. price distortions

C. shadow prices

D. consumer surplus

2632. Increasing in the real GNP per capita occur when ?
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A. government programs direct resources away from investment goods to consumer goods.

B. the level of consumption expenditures rises relative to the level of savings

C. tariffs and quotas prevent countries from trading and thus prevent dollars from leaving each country

D. the rate of growth in real GNP is greater than the rate of growth in the population

2633. Suppose, due to political instability, Russians suddenly choose to purchase UK assets as opposed to Russian assets Which of the following statements is true regarding the value of the pound and UK net exports ?
0

A. The pound appreciates, and UK net exports rise

B. The pound appreciates, and UK net exports fall

C. The pound depreciates, and UK net exports fall

D. The pound depreciates, and UK net exports rise

2634. Two countries that still rely on the Soviet communist model of development are ?
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A. China and Hong Kong

B. Poland and Germany

C. Cuba and North Korea

D. Ghana and Nigeria

2635. For a perfectly competitive firm ?
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A. price equals total revenue

B. price equals total cost

C. Price equals marginal revenue

D. price is greater than marginal revenue

2636. Firms in perfect competition face a?
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A. perfectly elastic demand curve

B. perfectly inelastic supply curve

C. perfectly elastic supply curve

D. perfectly inelastic demand curve

2637. A policy of developing local industries that can compete with imports is referred to as ?
0

A. industrial promotion

B. export promotion

C. unbalanced growth

D. import substitution

2638. Koreas keirestsu-like corporate conglomerates is known as ?
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A. chaebol

B. bourgeoisie

C. laissez faire

D. zaibatsu

2639. Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?
0

A. Rs 0 per month

B. Rs 40 per month

C. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0

D. Rs 30 per month

2640. If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fishermans price elasticity of supply for fresh fish is ?
0

A. one

B. zero

C. infinite

D. unable to be determined form this information

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