economics MCQs – Page 143

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 Review each marked answer and report any item that may be outdated or unclear.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

2841. Economic rent ?
0

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

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

C. does not include monopoly profits

D. is the wage used to pay unskilled workers?

2842. The slope at any point on an indifference curve is known as ?
0

A. the marginal rate of substitution

B. the trade-off rates

C. the marginal rate of trade-off.

D. the marginal rate of indifference

2843. The price elasticity of demand is defined as ?
0

A. none of these answers

B. the percentage change in the quantity demanded divided by the percentage change in income.

C. the percentage change in income divided by the percentage change in the quantity demanded

D. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good

2844. If demand is linear (a straight line) then price elasticity of demand is ?
0

A. inelastic throughout

B. elastic in the upper portion and inelastic in the lower portion

C. constant along the demand curve

D. inelastic in the upper portion and elastic in the lower portion

2845. Low agricultural productivity in developing countries is mainly caused by ?
0

A. a lack of effective demand for food products

B. an over-investment in farm equipment

C. migration from rural areas to urban areas

D. shortages of inputs including land

2846. in general a flatter demand curve is more likely to be ?
0

A. price elastic

B. unit price elastic

C. none of these answers

D. price inelastic

2847. When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?
0

A. greater than average cost, less than average cost

B. less than average cost, greater than average cost

C. less than average cost, less than average cost

D. greater than average cost, greater than average cost

2848. he efficiency wage is the ?
0

A. wage costs per unit of output

B. wage rate that prevails in LDCs

C. Wage rate divided by the productivity of labor

D. marginal product of labor divided by wage

2849. Pakistan is the _____largest Chickpea Producer country in the world ?
0

A. Fifth

B. Sixth

C. Eight

D. Second

2850. Which province of Pakistan is the largest sugarcane producing province ?
0

A. Sindh

B. Baluchistan

C. K.P.K

D. Punjab

2851. In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?
0

A. 75/25

B. There is no rational solution

C. Jan-99

D. 50/50

E. 99/1

2852. Black Volcanic soil and tropical climate is most suitable without excess rainfall for which crop ?
0

A. Jute

B. Tobacco

C. None of these

D. Cotton

2853. U.S total official development assistance to developing countries is ?
0

A. None of the above statements is true

B. higher currently than it was in the 1960s and 1970s

C. lowest among the OECD countries

D. is equivalent to Hollands aid

2854. In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?
0

A. natural monopoly.

B. deregulation

C. making markets contestable

D. cross-subsidization.

2855. Which one is the main source of foreign exchange earning ?
0

A. foreign remittances

B. agriculture

C. textile

D. manufacturing

2856. If firms satisfice this means that ?
0

A. objectives such as profit are not maximized

B. short-run profits are maximized

C. managers need to be paid enough to stop them leaving the company

D. long-run profits are maximized

2857. Food crops cover about ___ of cropped areas?
0

A. 55%

B. 75%

C. 35

D. 15%

2858. When the Indus Water Treaty was signed ?
0

A. 19th September 1962

B. 19th November 1964

C. 19th September 1960

D. 19th December 1965

2859. If there are implicit costs of production ?
0

A. economic profit and accounting profit will be equal

B. economic profit will exceed accounting profit

C. accounting profit will exceed economic profit

D. economic profit will always be zero

E. accounting profit will always be zero

2860. _________ is the backbone of the Pakistan economy and the mainstay of our national economic life?
0

A. Trade

B. Industrial

C. Agriculture

D. Service

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