economics MCQs – Page 137

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 Review each marked answer and report any item that may be outdated or unclear.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

2721. The informal sector includes ?
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A. activities with little capital skill and entry barriers

B. #NAME?

C. rtisans, cottage industrialists, petty traders, teashop proprietors

D. garbage pickers jitney unauthorized taxis repair persons

2722. Decrease returns to scale means that _____ as ______?
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A. Short run marginal cost rises, output rises

B. long run marginal cost rises, output rises

C. long run average cost rises, output rises

D. Short run average cost rises, output rises

2723. Which of the following is not capita good ?
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A. inventories

B. consumers goods

C. plant and equipment

D. buildings

2724. Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good Y, the marginal rate of substitution of good Y for good X (the slope of the indifference curve) ?
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A. rises

B. stays the same

C. could rise or fall depending on the relative prices of the two goods.

D. falls

2725. A countrys capital stock is the ?
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A. approximated investment minus actual investment

B. difference between GDP and capital consumption

C. sum of previous gross investment minus depreciation

D. inflow of investment from abroad

2726. When economists talk about developing countries experiencing flight of capital they mean?
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A. people investing money abroad rather than in their own country

B. money lent to the country being immediately invested abroad

C. money moving around financial institutions rather than being invested in production

D. People investing their money in urban business rather than agriculture

2727. Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumers income is 100 A pair of socks is ?
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A. an inferior effect

B. a Geffen good

C. none of these answers

D. a normal good

2728. Which of the following market would most closely satisfy the requirements for a competitive market ?
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A. cola

B. All of these answers represent competitive markets

C. cable television

D. milk

E. electricity

2729. Which of the following is NOT one of the problems facing most developing nations ?
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A. Rapid population growth

B. Food shortages

C. Foreign debt

D. Labor shortages

2730. For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except ?
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A. human capital/worker

B. natural resources/worker

C. labor

D. physical capital/worker

2731. Polish economist Oskar Langes model of decentralized ______ combined the advantages of market allocation with more uniform income distribution by dividing the returns from social ownership of nonhuman productive resources among the whole population ?
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A. monopoly

B. market socialism

C. capitalism

D. mixed economy

2732. Which of the following would cause a demand curve for a good to be price inelastic ?
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A. There are a great number of substitutes for the good

B. The good is a necessity

C. The good is an inferior good

D. The good is luxury

2733. Which of the following is not a characteristic of a competitive market ?
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A. The are many buyers and sellers in the market

B. Firms generate small but positive economic profits in the long run

C. The goods offered for sale are largely the same.

D. All of these answers are characteristic of a competitive market

E. Firms can freely enter or exit the market

2734. Canada France, Germany, Italy, Japan, The United Kingdom and United States are ?
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A. countries with highest productivity growth in the world since 1960

B. countries with the lowest information technology equipment and software index prices

C. countries with decreasing TFP growth since 1990s

D. G-7 countries

2735. In perfect competition ?
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A. the fixed cost equals the variable costs

B. the price equals the average variable cost

C. the price equals the total cost

D. The price equals the marginal revenue

2736. Which of the following expenditures to enhance productivity is most likely to emit a positive externality ?
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A. OGDC leases a new oil field

B. Naila pays her university tuition fees.

C. Megabank buys a new computer

D. Indus Motors buys a new drill press

2737. Peasants are ?
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A. rural politicians

B. rural cultivators

C. rural industrialist

D. rural, religious group

2738. If a competitive firm is producing a level of output where marginal revenue exceeds marginal cost the firm could increase profit if it ?
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A. decreased production

B. maintained production at the current level

C. temporarily shut down.

D. increased production

2739. If a firm takes over a competitor then, according to porters 5 forces model ?
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A. Substitute threat is higher

B. Supplier power is higher

C. Buyer power is higher

D. Rivalry is lower

2740. On what did the Russian Soviet development model of growth not depend ?
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A. markets for allocating resources

B. state assisted entrepreneurs

C. diverting savings from agriculture to industry

D. state monopolized trading

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