economics MCQs – Page 138

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 Review each marked answer and report any item that may be outdated or unclear.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

2741. Industrialization?
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A. id inversely related to development

B. is positively related to development

C. causes development

D. inhibits development

2742. Branko Horvats historical review of the last two and one-half century indicates that in large part market or decentralized socialism ?
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A. is the only way to eradicate poverty?

B. works well in Utopia

C. is widely used in sub Saharan Africa

D. has failed

2743. In the 1980s economists studying the source of growth observed no positive relationship between information and communications technology (ICT) investments and productivity This is known as ?
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A. Stieglitz discrepancies

B. technological followership

C. productivity paradox

D. Solow residual

2744. A competitive firm produces a level of output at which ?
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A. Price is greater than marginal cost

B. price equals marginal cost

C. None of the above

D. price is less than marginal cost

2745. Simon S.Kuznets argues that the major stock of an economically advanced country is not its physical capital but ?
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A. land

B. natural resources

C. body of knowledge

D. quantity of labor

2746. Structuralist economists who study developing countries focus their attention on ?
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A. The impact of international trade structures on developing countries

B. specific barriers to development and how to overcome them

C. changes in industrial structure over time

D. the caste of class structure and discrimination in the labor market

2747. Which of the following is not a public policy to promote the private sector ?
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A. Increasing market monopolies and oligopolies to help producers

B. Providing adequate infrastructure for public and private agencies

C. Investigating development potential through scientific and market research and natural resources surveys

D. Creating markets, including commodity markets, security exchanges, banks credit facilities and insurance companies

2748. The 1993 World Bank study entitled The East Asian Miracle (1993) identifies eight high performing Asian economies Which of the following is not one of them ?
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A. Vietnam

B. Japan

C. Thailand

D. Four tigers

2749. Annual GNP growth of 6% poverty reduced by 1% point of the population Balance of payments deficit not in excess of $200 million For a planner, the above are ?
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A. recurrent expenditures

B. bound by soft budget

C. target variables

D. achieved only through socialism

2750. The following statements are true about informal sector except ?
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A. Production is capital intensive

B. Uses family workers

C. May be enterprises with less than 10 workers

D. Uses no mechanical power

2751. Which two countries have enjoyed a real per capita growth rate of more than 7% yearly since the 1960s ?
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A. Canada and the United States

B. Sierra Leone and Nigeria

C. Taiwan and South Korea

D. Ghana and Mexico

2752. A state planning ideology arose in LDCs as a reaction to nationalist perceptions of ?
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A. western countries, nation-state ideology

B. Keeping balanced budget, a price target

C. minimizing public spending in the rural areas

D. slow economic growth under colonial capitalism

2753. According to Oskar Langes model socialist enterprises should produce where ?
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A. marginal revenue equals average cost

B. The monopoly profit maximization rule applies

C. total revenue equals total cost

D. Product price equals marginal cost

2754. A medium-term plan can be a(n) ________ revised at the end of each year?
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A. perspective plan

B. seasonal expenditure

C. rolling plan

D. instrument variable

2755. What is gross domestic product (GDP) ?
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A. the number of dollars earned in industry

B. goods received from the nations residents

C. income earned within a countrys boundaries

D. income earned through foreign exchange

2756. The developed nations have only about 15% of the worlds population, but they are estimated to consume _______ of the worlds output ?
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A. 80%

B. 50%

C. 25%

D. 65%

2757. If consumption when young and when old are both normal goods, an increase in the interest rate ?
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A. will always increase the quantity of saving

B. will increase the quantity of saving if the substitution effect outweighs the income effect

C. will always decrease the quantity of saving

D. will increase the quantity of saving if the income effect outweighs the substitution effect

2758. A decrease in supply (shift to the left) will increase total revenue in that market if ?
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A. supply is price elastic

B. demand is price inelastic

C. supply is price inelastic

D. demand is price elastic

2759. The emigration of highly-skilled people from the developing countries is known as ?
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A. human capital deterioration

B. labor degradation

C. productivity

D. The brain drain

2760. Which of the following is not TRUE about unemployed in LDCs ?
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A. The unemployed are relatively well educated

B. The unemployment rate for youths is twice that of people over 24

C. Unemployment in rural areas is twice that of urban areas

D. World-wide there are fewer unemployed females than males, but the rate is higher for women

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