economics MCQs – Page 153

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 Review each marked answer and report any item that may be outdated or unclear.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

3041. Sales staff are keen to sell extended warranties because ?
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A. extended warranties offer value for money.

B. they are paid commission on each extended warranty they sell.

C. the cost of repair will usually exceed the cost of the warranty

D. They are concerned about customer satisfaction.

3042. Which of the following statements about microeconomics and macroeconomics is not true ?
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A. Microeconomics and macroeconomics cannot be entirely separated

B. Macroeconomics is concerned with economy-wide phenomena

C. The study of very large industries is a topic within macroeconomics

D. Microeconomics is a building block for macroeconomics

3043. Which province of Pakistan is the largest bajra producing province ?
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A. Baluchistan

B. Punjab

C. Sindh

D. K.P.K

3044. Pakistan is the _____largest tobacco Producer country in the world?
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A. Sixth

B. Seventh

C. Eight

D. Fifth

3045. Antimonopoly laws are based on the proposition that ?
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A. public ownership is the best way to achieve efficiency

B. competition is the best way to achieve efficiency.

C. regulation is the best way to achieve efficiency.

D. increasing market power is the best way to achieve efficiency.

3046. The total forest area of Pakistan is estimated at ?
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A. 6.20 million hectares

B. 5.20 million hectares

C. 4.20 million hectares

D. 3.20 million hectares

3047. The domestic requirement of oil seed has almost doubled during the last?
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A. 9/10 years

B. 6/7 years

C. 3/4 years

D. 7/8 years

3048. What is the total length of Seven canals built under Indus Water Treaty ?
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A. 650 KM

B. 621 KM

C. 615 KM

D. 910 KM

3049. Positive statements are ?
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A. statements of description that can be tested

B. Macroeconomic

C. Statements of prescription that involve value judgments.

D. Microeconomics

3050. Pakistan is the ___________ largest Cotton Producer country in the world?
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A. Fourth

B. Fifth

C. Eight

D. Sixth

3051. Refer to Figure 1 What percent of the population vote for A when the choice is between A and B ?
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A. 60 percent

B. 35 percent

C. 40 percent

D. 75 percent

E. 25 percent

3052. Pakistan spends annually US$ $ 788 million on the import of ?
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A. edible oil

B. vegetable oil

C. sugar

D. tea

3053. Forests and rangelands support 30 million herds of livestock. How much amount this livestock contributes to Pakistans annual export earnings ?
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A. $500 million

B. $400 million

C. $350 million

D. $300 million

3054. Which one of the following is the largest sector of Pakistans economy ?
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A. Manufacturing

B. Agriculture

C. Industry

D. Banking

3055. Which province of Pakistan is the largest tobacco producing province ?
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A. K.P.K

B. Punjab

C. Baluchistan

D. Sindh

3056. Which of the following help explain why firms pay bonuses to workers during particularly profitable years to prevent workers from becoming disgruntled ?
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A. People are inconsistent over time

B. People are reluctant to change their minds

C. People care about fairness

D. people are rational maximizers

3057. A firm may be unable to maximize profits because it ?
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A. does not know its MC and MR

B. has too little information

C. The first and third option

D. has too much information

3058. Rice is very important food as well as ?
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A. cash crop

B. export crop

C. import item

D. raw material

3059. Bilateral aid ?
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A. is a loan at bankers standards

B. is aid with repayment in inconvertible currency

C. is given directly by one country to another

D. is technical aid given by IMF

3060. What is the annual average growth rate of agriculture in last decade ?
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A. 5.50%

B. 6.50%

C. 4.5%

D. 3.50%

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