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
7101. Tuvalu is composed of 9 coral atolls along a 360-mile chain in Polynesia They gained independence in 1978 The former Ellice Island are home to 9,700 people if GNP of Tuvalu is $300 million in 2005 GNP per capital is ?
comments icon0
A. 300 000 000 / 9700

B. 300 / 360

C. 32.333

D. 9700 (1978 / 2005)

7102. The Physical Quality of Life Index (PQLI) combines three indicators They are ?
comments icon0

A. air pollution rate, Water pollution rate and sanitation

B. health education and environment

C. infant mortality life expectancy and adult literacy rate

D. crime rate clean environment and quality of housing

7103. IF GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austri is US$555 and US$560 in 2011 and 2012 respectively, the real economic growth from 2011 to 2012 is ?
comments icon0

A. 0.09%

B. 0.99%

C. 0.901%

D. 5%

7104. All of the following are low income countries except ?
comments icon0

A. Bangladesh

B. Sudan

C. Armenia

D. United Arab Emirates
7105. IF GDP for Maldivies is $435 million in 2012 and the GDP per capita is $1576.087 the population of the country must be ?
comments icon0

A. 3.623

B. 276,000

C. 0.276

D. 1,576,086

7106. If GNP per capita at constant prices for Ghana is US$360 and US$364 in 1996 and 1997 respectively, The real economic growth from 1996 to 1997 is ?
comments icon0

A. 11%

B. 4%

C. 0.01%

D. 1.11%
7107. Economic development refers to ?
comments icon0

A. improvement in the well-being of the urban population

B. sustainable increase in Gross National Product

C. economic growth plus changes in (c) output distribution and economic structure

D. economic growth

7108. If GDP for Barbados is $260 million in 2011 and its population is 260,000 GDP per capita is ?
comments icon0

A. 260

B. 0.001

C. 1000

D. 259740

7109. Lespeyres type indexes use weights from_____________?
comments icon0

A. current period

B. future year

C. forecasting

D. base-period

7110. Which of the following countries is not a low-income country ?
comments icon0

A. Somalia

B. Ethiopia

C. Rwanda

D. Singapore
7111. The formula for the Laspeyres price index is (o is the base year and n is the given year) ?
comments icon0

A. P = ?Poqo/?pnqn

B. P = ?Poqn/?poqo

C. P = ?Poqo/?poqo

D. P = ?Pnqo/?poqo
7112. The Human Development Index (HDI) summarizes a great deal of social performances in a single composite index combining ?
comments icon0

A. human resource training development and R&D

B. minimum schooling, adult literacy and tertiary educational attainment

C. disparity reduction rate, human resource development rate and the composite index

D. longevity, education and living standard
7113. The University of Pennsylvania researchers Summers and Heston compute the price level of GDP as the ratio of purchasing power parity (PPP) exchange rate to the actual exchange rate where ?
comments icon0
A. both exchange rates are measured s the domestic currency price of the US-dollar

B. both exchange rates are not converted into international dollars

C. both exchange rate are pegged

D. both exchange rate are converted into Big Mac PPP formula

7114. All of the following are high income countries except ?
comments icon0

A. the United Kingdom

B. Hungary

C. Singapore

D. Japan

7115. Which of the following is not a problem in comparing developed and developing countries GNP ?
comments icon0

A. The economic contribution of a housewife is a peasant family may not be measured is GNP is poor country

B. GNP in understated for developing countries since many of their labor intensive good have no impact on exchange rate since they are not traded

C. GNP is overstated for for countries where the price of foreign exchange is less than market clearing price

D. GNP is understated for developed countries, since a number of items included in their national incomes are intermediate goods
7116. Which of the following is not one of the Newly Industrialized Countries (NICs) ?
comments icon0

A. Taiwan

B. Japan

C. Singapore

D. South Korea

7117. The formula to calculate Passche price index is (o is the base year and n is the given year) ?
comments icon0

A. P = ?Pnqn/?poqo

B. P = ?Poqo/?pnqn

C. P = ?Pnqn/?poqn

D. P = ?Pnqo/?poqo

7118. A dual economy is distinguished from other economies by having ?
comments icon0

A. an industrial sector and a manufacturing sector

B. an industrial sector that concentrates on manufacturing and construction

C. state owner ship of the means of production

D. a traditional agricultural sector and a modern industrial sector
7119. Which of the following statement is true about low-income countries ?
comments icon0
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. share of labor force is about 30%

D. One-third of the labor force produce food

7120. Economic rent ?
comments icon0

A. is productive activity to obtain private benefit from public action and resources

B. is the wage used to pay unskilled workers?

C. are the payments above the minimum essential to attract the resources to the market?

D. does not include monopoly profits

7121. Dual economies are countries ?
comments icon0
A. with a modern manufacturing sector as well as traditional agriculture sector

B. that specialize in labor intensive products more than capital intensive products

C. with double capital and labor/

D. with foreign owned and domestically owned capital

7122. The informal sector includes ?
comments icon0

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

B. activities with little capital skill and entry barriers

C. garbage pickers jitney unauthorized taxis repair persons

D. #NAME?

7123. What is gross domestic product (GDP) ?
comments icon0

A. income earned through foreign exchange

B. the number of dollars earned in industry

C. goods received from the nations residents

D. income earned within a countrys boundaries
7124. The low-income economies generally have the following except ?
comments icon0

A. deficient infrastructures

B. low life expectancies

C. low savings

D. a per capital GNP of more than $900
7125. Increases in real GNP per capita occur when ?
comments icon0

A. the level of consumption expenditures rises relative to the level of saving

B. the rate of growth of real GNP is greater than the rate of growth of population

C. tariffs and quotas prevent dollars from leaving the country

D. government programs direct resources away from investment goods to consumer goods.

7126. Which one of the following countries is not a high-income country ?
comments icon0
A. Mexico

B. United Kingdom

C. Germany

D. Canada

7127. Peasants are ?
comments icon0

A. rural politicians

B. rural, religious group

C. rural industrialist

D. rural cultivators
7128. Clientelism ?
comments icon0

A. #NAME?

B. commands equals wealth, status or influence, based on unconditional loyalties and involving mutual benefits

C. is also known as patrimonialism

D. is the dominant pattern in many LDCs

7129. Industrialization?
comments icon0

A. inhibits development

B. id inversely related to development

C. is positively related to development

D. causes development

7130. Increasing in the real GNP per capita occur when ?
comments icon0

A. tariffs and quotas prevent countries from trading and thus prevent dollars from leaving each country

B. government programs direct resources away from investment goods to consumer goods.

C. the level of consumption expenditures rises relative to the level of savings

D. the rate of growth in real GNP is greater than the rate of growth in the population
7131. Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about ?
comments icon0
A. $25

B. $40,000

C. $100

D. $145

7132. A countrys export commodity concentration ratio is the ?
comments icon0

A. proportion of the primary export commodity in total exports

B. total annual investment made in production of exported commodities

C. ratio of four leading commodities to total merchandise exports

D. average annual investment made in production of exported commodities

7133. Two or more nuclear families of parent(s) and children is known as ?
comments icon0

A. dual family

B. institutional family

C. extended family

D. two-tier family tree

7134. Export primary commodity concentration ratios are ?
comments icon0

A. total merchandise export divided by Gross National Income

B. food, raw materials minerals and organic oils and fat as a percentage of total merchandise exports

C. commodity exports as a percentage of GDP per capita of exporting country divided by importing country

D. export earnings as a ratio of population

7135. What is the ratio of population density of developing countries to the population of developed countries ?
comments icon0

A. no more than 1

B. 10

C. 2

D. 20

7136. Which of the following is not a requirement for economic development ?
comments icon0

A. natural resources

B. a temperate climate

C. an adequate capital bases

D. technological advance

7137. A countrys capital stock is the ?
comments icon0

A. difference between GDP and capital consumption

B. sum of previous gross investment minus depreciation

C. approximated investment minus actual investment

D. inflow of investment from abroad

7138. According to Lewiss model the dual economy grows only when ?
comments icon0

A. agricultural sector uses modern equipment

B. modern manufacturing sector is labor intensive

C. agricultural sector hires labor economically

D. the modern sector increases its output share relative to the traditional sector
7139. The following statements are true about informal sector except ?
comments icon0

A. May be enterprises with less than 10 workers

B. Production is capital intensive

C. Uses no mechanical power

D. Uses family workers

7140. In low-income countries the average agricultural family produces a surplus ?
comments icon0

A. of zero

B. large enough to feed 25 other families

C. enough to supply only a small nonagricultural population

D. large enough of feed five other families

7141. As economic development proceeds income inequality tends to follow a(n) _____ curve?
comments icon0

A. S-Shaped

B. convex

C. inverted U shaped

D. L-shaped

7142. The domestic requirement of oil seed has almost doubled during the last?
comments icon0

A. 3/4 years

B. 7/8 years

C. 9/10 years

D. 6/7 years

7143. Pakistan is the _____largest Onion Producer country in the world ?
comments icon0

A. Eight

B. Fifth

C. Sixth

D. Fourth

7144. Agriculture contributes about ________ to the GDP?
comments icon0
A. 25%

B. 55%

C. 35%

D. 15%

7145. The Triple Project was designed to carry surplus water from the jhelunito chenab and from chenab to the ?
comments icon0
A. Ravi

B. None of these

C. Upper Bari Doaab

D. Sutlej

7146. What is the period of Rabi season ?
comments icon0
A. Oct-Dec to April-May

B. January-Mar to April-June

C. Oct-Nov to April-June

D. May-June to July-Aug

7147. Minor crops in Rabi season are pulses, potatoes and ?
comments icon0

A. garlic

B. bajra

C. All these

D. Onions

7148. The annual requirement of edible oil is nearly ?
comments icon0
A. 1.9 million tones

B. 1.5 million tones

C. 1.6 million tones

D. 1.7 million tones

7149. Which is the oldest hydroelectricity project in Pakistan ?
comments icon0

A. Mangla

B. Tarbela

C. Warsak

D. Malakand Dargai
7150. Guddu Barrage was constructed on ?
comments icon0

A. River Ravi

B. River Sutlej

C. River Jheulum

D. River Indus