economics MCQs – Page 141

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 Review each marked answer and report any item that may be outdated or unclear.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

2801. In monopolistic competition firms profit maximize where ?
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A. Marginal revenue = Marginal cost

B. Marginal revenue = Total cost

C. Marginal revenue = Average revenue

D. Marginal revenue = Average cost

2802. In perfect competition ?
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A. There are many buyers and sellers

B. Firms are price makers

C. There are many buyers but few sellers

D. A few firms dominate the industry

2803. Which of the following statements regarding the market for foreign currency exchange is true ?
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A. An increase in Pakistans net capital outflow increase the demand of rupees and the rupees appreciate

B. An increase in Pakistans net capital outflow increase the supply of rupees and the rupees appreciate

C. An increase in Pakistans net capital outflow increase the demand of rupees and the rupees depreciate

D. An increase in Pakistans net capital outflow increase the supply of rupees and the rupees depreciate

2804. in general a flatter demand curve is more likely to be ?
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A. unit price elastic

B. price inelastic

C. none of these answers

D. price elastic

2805. If a competitive firm doubles its output its total revenue ?
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A. doubles.

B. cannot be determined because the price of the good may rise or fall

C. less than doubles.

D. more than double

2806. The competitive firm maximize profit when it produces output up to the point where ?
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A. marginal cost equals total revenue

B. marginal revenue equals average revenue

C. price equals average variable cost

D. marginal cost equals marginal revenue

2807. An increasing in Europes taste for UK produced Hondas would cause the pound to ?
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A. depreciate and would decrease UK net exports

B. depreciate and would increase UK net exports

C. appreciate and would increase UK net exports

D. appreciate, but the total value of UK net export stays the same

2808. Which of the following statement is NOT true about OECD aid ?
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A. In 2001, only Denmark Norway, Sweden, the Netherlands, and Luxembourg exceeded the aid target for LDCs

B. In the early 1990s the OECD contributed 98 percent of all aid

C. The OECD aid increased from $6.9 billion in 1970 to $8.9 billion in 2001

D. During the 1980s OECD countries contributed four fifths of the worlds bilateral official development assistance to LDCs

2809. Which of the following assumptions underlying input-output analysis raises about its validity ?
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A. The technical coefficients are fixed which means so substitution between inputs occurs

B. #NAME?

C. There is no technical change

D. There are no externalities so that the total effect of carrying out several activities is the sum of the separate effects

2810. If there is excess capacity in a production facility it is likely that the firms supply curve is ?
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A. price elastic

B. price inelastic

C. none of these

D. unit price elastic

2811. The firms long run output decision will be where ?
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A. marginal revenue equals output

B. marginal revenue equals long run marginal cost

C. long run average cost is lowest

D. marginal cost equals output

2812. Aid or official development assistance (ODA) includes ?
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A. technical cooperation

B. developments grants

C. loans with at least 25 percent grant element

D. #NAME?

2813. Experiences over the last three decades has suggested that in order for economic development to occur, it is necessary for an economy to ?
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A. stress agricultural development over industrial development

B. promote industrial development over agriculture

C. use a balanced strategy that promotes both agricultural and industrial development

D. stress the importation of agricultural products and the export of manufactured goods

2814. Which of the following is not TRUE about rural urban migration ?
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A. From 1975 to 2000 the number of cities in LDC with populations over 1 million increased from 20 to 50

B. The urban share of total LDC population grew from 27 percent in 1975 and 35 percent in 1992 to 40 percent in 2003

C. Migration to the cities is a larger contributor than natural population growth to urban labor growth is sub Saharan Africa

D. In Latin America natural population increase is the major source of urban growth

2815. Which of the following is not True ?
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A. In 2001 internet users per 1000 people in middle income countries were greater than high income countries

B. In 1990 the world had 98 mainline phones and 2 mobile phones per 1,000 people: in 2001 169 mainline and 153 mobiles per 1000

C. In 2001 the World information technology expenditures were about 1/20 of 1% of world gross investment

D. Mobile phones do not require the massive infrastructure investment that mainline telephone require

2816. Which of the following statements regarding the market for foreign currency exchange is true ?
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A. An increase in Pakistans net exports increase the demand for rupees and the rupees appreciates

B. An increase in Pakistans net exports decreases the supply of rupees and the rupees depreciates

C. An increase in Pakistans net exports decrease the demand for rupees and the rupees appreciates

D. An increase in Pakistans net exports increases the Supply of rupees and the rupees depreciates

2817. If the EU imposes a quota on the importing of clothing produced in China, so reducing UK imports of clothing Which of the following is true regarding the market for foreign currency exchange ?
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A. The Supply of pounds decreases, and the pound appreciates

B. The Supply of pounds increases, and the pound depreciates

C. The demand for Pounds increases and the pound appreciates

D. The demand for pounds decreases and the pound depreciates

2818. I = S + F The equation above states that a country can increase its new capital formation (or investment) through is ?
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A. savings from abroad and financial outflow

B. own domestic savings and by inflows of capital from abroad

C. stock market and fiscal policy

D. savings and financial liberalization

2819. In 2000, the Economist estimated that only _________ of some 360 million internet users were in Africa ?
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A. 60 million

B. 10 million

C. million

D. 3 million

2820. The theoretical basis for zero marginal productivity of labor was the concept of ?
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A. labor force literacy

B. limited technical sustainability of factors

C. substitution of leisure and work among labor

D. marginal rate of substitution

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