economics MCQs – Page 139

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 Review each marked answer and report any item that may be outdated or unclear.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

2761. An example of a trade policy is ?
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A. All are examples of trade policy

B. capital flight because it increases a countrys net exports

C. A tariff on sugar

D. an increase in the government budget deficit because it reduces a countrys net exports

2762. The market efficiently allocates scarce resource among alternative ends such that ?
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A. the market distributes income among rich individuals

B. Production resources hire out to maximize income)

C. #NAME?

D. consumers receive goods for which they are willing to pay

2763. The Phrase twin deficits refers to ?
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A. The fact that if a country has a trade deficit, its trading partners must also have trade deficits

B. A countrys trade deficit and its government budget deficit

C. a countrys trade deficit and its net capital outflow deficit

D. the equality of a countrys saving deficit and its investment deficit

2764. The bourgeoisie refers to ?
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A. the monarchy

B. the aristocrats of wealthy nations

C. the central planners of the Soviet Union

D. the capitalist and middle class

2765. Most mixed or capitalist developing countries are limited to an indicative plan, which indicates expectations, aspirations, and intentions ?
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A. of implementation through foreign aid

B. of the central bank

C. but falls short of authorization

D. with immediate implementation

2766. Which of the following is not one of the four Ps in marketing ?
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A. Product

B. Place

C. Presence

D. Price

2767. Once a country is wealthy ?
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A. capital becomes more productive due to the catch-up- effect

B. it may be harder for it to grow quickly because of the diminishing returns to capital

C. it no longer needs any human capital

D. none of these answers

2768. A grocery store should close at night if the ?
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A. variable costs of staying open are less than the total revenue due to staying open.

B. variable costs of staying open are greater than the total revenue due to staying open

C. total costs of staying open are less than the total revenue due to staying open

D. total costs of staying open are greater than the total revenue due to staying open

2769. The Keynesian remedy for unemployment is to ?
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A. reduce tax rates or lower interest rates

B. decrease aggregate demand

C. decrease private consumption and investment

D. decrease government spending

2770. If a production function exhibits constant returns to scale ?
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A. doubling all of the inputs less than doubles output due to diminishing returns

B. doubling all of the inputs more than doubles output due to the catch-up effect

C. doubling all of the inputs has absolutely no impact on output because output is constant

D. doubling all of the inputs doubles output

2771. Many East Asian countries are growing very quickly because ?
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A. They have enormous natural resources.

B. They save and invest an unusually high percentage of their GDP

C. They are imperialists and have collected wealth from previous victories in war

D. They have always been wealthy and will continue to be wealthy, which is known as the snowball effect

2772. Which of the following statement is true about low-income countries ?
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A. the average agriculture family produces surplus large enough only to supply small non-agriculture population

B. less than 10% of the labor force is in agriculture

C. One-third of the labor force produce food

D. share of labor force is about 30%

2773. ASEAN refers to the ?
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A. Alliance of South Eastern African Nations

B. Association of South East Asian Nations

C. Association of South East Argo Nations

D. Alliance of South East Asian Neighbors

2774. The demand for which of the following is likely to be the most price inelastic ?
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A. taxi rides

B. bus tickets

C. transportation

D. airline tickets

2775. A countrys export commodity concentration ratio is the ?
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A. proportion of the primary export commodity in total exports

B. average annual investment made in production of exported commodities

C. ratio of four leading commodities to total merchandise exports

D. total annual investment made in production of exported commodities

2776. If supply is price inelastic the value of the price elasticity of supply must be ?
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A. less than 1

B. none of these

C. infinite

D. Zero

E. greater than 1

2777. If an increase in the price of a good has no impact on the total revenue in that market demand must be ?
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A. unit price elastic

B. all of these answers

C. price inelastic

D. price elastic

2778. Which of the following government policies is least likely to increase likely to increase growth in Africa ?
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A. increase expenditure on public education

B. eliminate civil war

C. All of these answers would increase growth

D. increase restrictions on the importing of American tractors and electronics

2779. Takatoshi Ito (1992) contends that parliamentary governments manipulate the timing of _____ while presidential governments manipulate the timing of _____?
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A. economic policies; political policies

B. elections; economics policies

C. tax collection, tax implementation

D. monetary policy, fiscal policy

2780. Vaccinating people for measles, rubella, polio and cholera to substantially increase net social benefits by improving the health and productivity of the population is an example of ?
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A. economies of scale

B. net present value

C. external economies

D. negative externality

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