economics MCQs – Page 148

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 Review each marked answer and report any item that may be outdated or unclear.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

2941. Economic profit is equal to total revenue minus ?
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A. explicit costs

B. implicit costs

C. variable costs

D. marginal costs

2942. When the period of Kharif crop starts and when ends ?
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A. May-October

B. Jan-October

C. June-September

D. October-May

2943. The efficient scale of production is the quantity of output that minimizes ?
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A. average fixed cost

B. marginal cost

C. average total cost

D. average variable cost

2944. What is the contribution of forestry to the agriculture sector ?
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A. 3.4

B. 2.4

C. 0.4%

D. 1.4

2945. The annual requirement of edible oil is nearly ?
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A. 1.5 million tones

B. 1.6 million tones

C. 1.9 million tones

D. 1.7 million tones

2946. At what rate (average) agriculture grew over the last decade ?
0

A. 6%

B. 5.40%

C. 3.3%

D. 8%

2947. Economic models are ?
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A. created to duplicate reality.

B. Usually made of wood and plastic

C. useless if they are simple.

D. built with assumptions.

2948. If a production function exhibits diminishing marginal product the slope of the corresponding total-cost curve ?
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A. become flatter as the quantity of output increases.

B. could be any of these answers

C. is liner (a straight line)

D. becomes steeper as the quantity of output increases

2949. hich of the following is not a property required of a perfect voting system ?
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A. independence of irrelevant

B. transitivity

C. no dictators

D. The median voter always wins

2950. The main export items of the country are crop cotton and?
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A. sugar products

B. wheat

C. cotton vast products

D. Sugar

2951. Growth maximization is the same as ?
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A. Sales maximization

B. sales revenue maximization

C. long-run profit maximization.

D. maximization the growth of sales revenue.

2952. Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The economics profit at Nailas pottery factory is ?
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A. Rs80,000

B. Rs70,000

C. Rs75,000

D. Rs30,000

2953. The divorce of owner ship and control causes a problem usually referred to by economists as ?
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A. merger mania.

B. profit myopia

C. moral hazard

D. principal-agent problem.

2954. Sales maximization is likely to take place in markets that are ?
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A. perfectly competitive

B. contestable

C. oligopolistic

D. export-oriented

2955. Pakistan is the _________ largest Date Palm Producer country in the world?
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A. Fifth

B. Eight

C. Sixth

D. Fourth

2956. Markus is a travelling salesman for an apparel company. In this employment relationship, Markus is the ?
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A. signaler

B. agent

C. principle

D. screener

2957. Arid Zone Research Centre, of PARC is situated at ?
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A. Islamabad

B. Quetta

C. Faisalabad

D. Lahore

2958. The total forest area of Pakistan is estimated at ?
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A. 4.20 million hectares

B. 53.20 million hectares

C. 5.20 million hectares

D. 6.20 million hectares

2959. How many persons in rural areas are engaged in livestock raising ?
0

A. 25-30 million

B. 35-40 million

C. 30-35 million

D. 20-30 million

2960. What is the total landmass of the country ?
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A. 78.98 million hectares

B. 87.98 million hectares

C. 89.98 million hectares

D. 98.87 million hectares

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