economics Mcqs
1. the national economy2. profit maximizing under perfect competition and monopoly3. application of economics4. the aggregate demand aggregate supply model5. surplus6. money interest rates and output7. average and total cost8. stabilization adjustment reform and privatization9. risks and diversification efficient market hypothesis10. the phillips curve11. supply and demand12. capital formation investment choice information technology and technical progress13. aggregate supply unemployment and inflation14. elasticity15. comparative gdp16. roots of modern macroeconomics17. production factors18. poverty malnutrition and income inequality19. trade regulations and industrial policies20. monetary union21. exchange rate systems and currency crises22. economic development in historical perspective23. exchange rate determination24. monopoly competition25. the balance of payments26. inflation productivity27. macroeconomic issues and analysis28. employment migration and urbanization29. macroeconomic policy tools30. supply side policies31. exchange rate adjustments and the balance of32. miscellaneous33. taxation34. trade policies for the developing nations35. markets efficiency and the public interest36. the external debt and financial crises37. budget deficits and the trade balance38. alternative theories of the firm39. public goods40. the meaning and measurement of economic development41. characteristics and institutions of developing countries42. agriculture irrigation system of pakistan43. education health and human capital44. economic problems of developing countries45. theories of economic development46. basic of economics47. consumer theory vs real consumers48. applied microeconomics49. long term economic growth50. externality internality51. fiscal and monetary policy52. prices wages taxes53. balance of payments aid and foreign investment54. international factor movements and multinational corporations55. entrepreneurship organization and innovation56. the international economy and globalization57. population and development58. non tariff trade barriers59. foundations of modern trade theory60. global economic development61. market62. rural poverty and agricultural transformation63. regional trading arrangements64. foreign exchange65. introduction to economics66. world economy miscellaneous67. sources of comparative advantage68. natural resources and the environment toward sustainable development69. monopoly70. asymmetric information71. income inequality72. labour market73. tariffs74. development planning and policy making the state and the market75. oligopoly76. industrial development77. costs supply and perfect competition78. human capital79. monetary fiscal and incomes policy and inflation80. stocks
6551. The term Neo-Freudian refers to__________________?
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A. thinkers influenced by Freud who have modified his ideas

B. behavior based on sexual drives

C. thinkers opposed to psychoanalysis

D. thinkers prior to Freud who anticipated his ideas

6552. The high cost of fighting crime is due in large part to_______________?
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A. an increase in prison inmates

B. tax cuts instituted by the present administration

C. the increase in organized crime

D. high unemployment rates

6553. The production possibilities frontier refers to_______________?
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A. limitless output of commodities

B. the amount of each commodity that can be produced given available resources

C. none of the above

D. unlimited production of one commodity

6554. It is the function of Congress to_______________?
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A. decide the constitutionality of specific laws

B. vote funds for conducting foreign affairs

C. unanimously approve treaties

D. conduct foreign affairs

6555. The process of circulating petitions in order to place specific issues before the legislators is called____________?
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A. innuendo

B. impressment

C. initiative

D. appeasement

6556. Consumer sovereignty means that________________?
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A. producers supply what is demanded

B. all of the above

C. production depends on supply and demand

D. consumers create demand

6557. Most autocratic regimes have constitutions based on the principle of the_________?
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A. rule of law

B. rule of public authority

C. rule of men

D. rule of the majority

6558. Inflation results when_________________?
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A. there is control of purchasing power

B. supply exceed demand

C. consumers have no purchasing power

D. demand exceeds supply
6559. Americans who join voluntary associations are generally ?
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A. black

B. Catholic

C. poor

D. urban
6560. The type of foreign policy decisions made by the governmental bureaucracy fall into the category of_______________?
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A. crisis decisions

B. legislative decisions

C. constructive foreign policy

D. administrative foreign policy
6561. The leaders of interest groups tend to be_________________?
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A. more conservative than the rank and file

B. in accord with the agenda of the rank and file

C. more liberal than the rank and file

D. unaware of the concerns of the rank and file

6562. The factors influencing the political behavior of American voters include ?
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A. social class

B. all of the above

C. mass media

D. socialization

6563. A child shows her parents how to operate a computer This situation reflects_____________?
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A. secondary socialization

B. primary socialization

C. reverse socialization

D. tertiary socialization

6564. The public sector_________________?
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A. is bloated with a large bureaucracy

B. employs one of every four workers

C. all of the above

D. is less efficient and effective than the private sector

6565. The nation with the longest political campaign period is_______________?
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A. Italy

B. all nations take the same time to campaign

C. England

D. the United States
6566. An example of a permanent or enduring subculture would be_______________?
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A. the military establishment

B. a group of guerrillas

C. a doomsday cult

D. life in a survivalist enclave

6567. A demand-side theory that focuses on the role of money to finance aggregate demand is termed__________?
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A. Reaganism

B. the gold standard

C. cash and carry

D. monetarism
6568. Cooleys Lookingglass self refers to______________________?
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A. negative self-image

B. positive self-image

C. a persons perception as to what others think of him/her

D. self-regard based on instinct
6569. The condition of an increase in prices NOT triggered by an increase in demand is called_______________?
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A. inflation

B. hyperinflation

C. restraint of trade

D. the Pigou effects

6570. The emergence of the self as a result of interaction with others is a common thread in ALL BUT ONE of the following theories ?
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A. Lookingglass self

B. symbolic interactionism

C. developmental theory

D. behaviorism
6571. In the United States a college degree is generally associated with_____________?
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A. achieved status

B. no status

C. castes

D. ascribed status

6572. Advocates of the elitist approach believe that the ruling elite maintains its power by____________?
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A. none of the above

B. physical force

C. explaining the truth to the people

D. manipulation of the masses
6573. The more consumers are willing to pay for a product_____________________?
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A. the more expensive the product becomes

B. the more they go into debt forcing them to stop buying

C. the less producers will manufacture to raise the price still more

D. the more of the product will be produced
6574. C.Wright Mills wrote that the power elite controls_________________?
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A. all political and social issues

B. access to Supreme Court appointments

C. the election of all national officials

D. the major issues like war and peace
6575. Recent studies related to daycare centers indicate that_____________?
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A. children lose intellectual progress

B. they are a breeding ground of child abuse

C. children are generally emotionally impaired by them

D. there is no important loss or gain in intellectual development in well managed centers
6576. In perfect price discrimination ?
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A. produce surplus is zero

B. Consumer surplus is maximised

C. Consumer surplus is zero

D. Community surplus is maximised

6577. The classical neoclassical monetarist Keynesian refers to the discipline of_____________?
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A. anthropology

B. economics

C. psychology

D. sociology

6578. The development of modern culture is CHIEFLY dependent upon ?
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A. bifocalism

B. complex symbolic communication

C. upright posture

D. grasping ability of the hand

6579. In perfect price discrimination ?
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A. The demand curve is the marginal cost curve

B. The demand curve is the marginal revenue

C. The average revenue equals the average cost

D. The marginal cost is the average cost curve

6580. When internal economies of scale occur ?
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A. Average costs fall

B. Revenue falls

C. Total costs fall

D. Marginal costs increase

6581. Which is an example of a pivotal social institution ?
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A. A symphony orchestra

B. The economy

C. A jail

D. A rock bands

6582. The study of traits that appear in specific population as adaptation to specific environments is called ?
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A. demography

B. psychology

C. cultural anthropology

D. physical anthropology
6583. To be allocatively efficient a firm must produce where ?
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A. The price equals the average cost

B. The price equals the marginal cost

C. The total cost equals demand

D. The average revenue equals the marginal revenue

6584. Head hunting is wrong This statement is made from the point of view of______________?
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A. cultural relativity

B. ethnocentrism

C. ethnic uniformity

D. cultural pride

6585. In Price discrimination abnormal profits are made if ?
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A. Average revenue is greater than marginal revenue

B. Average revenue is greater than average cost

C. Average revenue is greater than average fixed cost

D. Average revenue is greater than average variable cost

6586. Economic growth can be shown by ?
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A. An inward shift of the production possibility frontier

B. A movement along the production possibility frontier

C. A decision by the government to produce inside the production possibility frontier

D. An outward shift of the production possibility frontier
6587. Society and culture______________?
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A. all of the above

B. are in continual conflict

C. are separate phenomena

D. are interrelated and interdependent
6588. To maximise growth without making a loss a firm should produce the highest output where ?
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A. Average revenue equals marginal cost

B. Average revenue equals average cost

C. Marginal revenue equals marginal cost

D. Average cost equals marginal cost

6589. A reduction in the money supply is likely to ?
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A. Increase inflation

B. Decrease deflation

C. Increase the interest rate

D. Reduce the interest rate

6590. According to supply-side economists if taxes are cut so that people have an increased incentive to work and businesses have an increased incentive to invest ?
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A. aggregate supply will increase , aggregate demand will decrease

B. aggregate supply will increase, aggregate output will increase and the price level will decrease

C. aggregate supply will increase aggregate output will increase and the price level will increase

D. both aggregate supply and demand will increase and the price level will increase

6591. Privatisation is the transfer out ?
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A. government businesses to the private sector

B. Publicly held stock to private individuals

C. Privately owned business to the government sector

D. corporately owned businesses to individuals

6592. An outward shift of the production possibility frontier may be caused by ?
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A. Better training of employees

B. Productive inefficiency

C. An increase in demand

D. More government spending

6593. If the marginal revenue is less than the marginal cost then to profit maximise a firm should ?
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A. Leave output where it is:

B. Increase costs

C. Reduce output

D. Increase output

6594. A variable whose value is determined by the model of which it is a part is termed ?
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A. exogenous

B. constant

C. independent

D. endogenous
6595. The total quantity of goods and services produced (or supplied) in an economy in a given period is ?
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A. aggregate output

B. aggregate expenditure

C. aggregate investment

D. aggregate demand

6596. Assuming there is no government or foreign sector, if the multiplier is 2.5 the MPC is ?
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A. 4

B. 25

C. 6

D. 2.5

6597. The precautionary demand for money is ?
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A. An idle because

B. An active balance

C. Directly related to interest rates

D. Inversely related to income

6598. If firms earn normal profits ?
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A. No profit is made is accounting terms

B. Other firms will join the industry

C. The revenue equal total costs

D. They will aim to leave the industry

6599. Burning your neighbors house down is considered a serious offense It is a violation of_____________?
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A. folkways

B. taboos

C. mores

D. table manners

6600. Correlation differs from causation in that correlation ?
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A. occurs purely by chance

B. occurs among more than two variables

C. precedes causation

D. only indicates a probable relation