economics MCQs – Page 155

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 Review each marked answer and report any item that may be outdated or unclear.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

3081. Which one of the following is the main cash crop of Pakistan ?
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A. wheat

B. None of them

C. cotton

D. rice

3082. Even though explicit contracts may lead to layoffs during recessions explicit contracts may still be efficient because such contracts ?
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A. minimize negotiation costs

B. guarantee that only the least productive workers will be laid off.

C. minimize unemployment effects

D. will equitable spread the layoffs among junior and senior workers

3083. What is the contribution of forest sector in GDP ?
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A. 0.1%

B. 1.1

C. 3.1

D. 2.1

3084. Which are Pakistans major seasons for agriculture crops ?
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A. Barani and Rabi

B. Kharif and Barani

C. Kharif and Rabi

D. Kharif, Rabi and Barani

3085. The total forest area of Punjab is ?
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A. 0.96 million hectares

B. 0.89 million hectares

C. 0.989 million hectares

D. 1.69 million hectares

3086. Which of the following is a variable cost in the short run ?
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A. wages paid to factory labor

B. interest payments on borrowed financial capital

C. salaries paid to upper management

D. rent on the factory

E. payments on the lease for factory equipment

3087. Which are Pakistan major seasons for agriculture crop ?
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A. barani & rabi

B. Kharif & Barani

C. Kharif & rabi

D. Kharif , Rabi

3088. National Arid-land Development and Research Institute (NADRI) is at ?
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A. Peshawar

B. Faisalabad

C. Islamabad

D. Lahore

3089. The balance on current account ?
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A. equals the absolute value of the balance on capital account

B. #NAME?

C. includes goods services and unilateral transfers

D. is financed by savings

3090. Nomboli is formulated for the control of ?
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A. pests

B. agricultural insect pest

C. household pest

D. herbs and shrubs

3091. Investment in agriculture sector is Rs ?
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A. 45.9 billion

B. 50.9 billion

C. 45.1 billion

D. 49.9 billion

3092. The total land area of Baluchistan is 34.7 mha (or 85.74 million acres), out of which only ____ are cultivated?
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A. 54 % or 11.4 mha

B. 24 % or 5.4 mha

C. 34 % or 7.4 mha

D. 14 % or 3.4 mha

3093. The total land area of Sindh is 14.1 mha (or 34.84 million acres) out of which _______ are cultivated?
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A. 39 % or 5.45 mha

B. 31 % or 4.49 mha

C. 32 % or 3.85 mha

D. 33 % or 4.45 mha

3094. In making which of the following statements is an economist acting more like a scientist ?
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A. The rate of inflation should be reduced because it robs the elderly of their savings.

B. The unemployment rate should be reduced because unemployment robs individuals of their dignity.

C. A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.

D. The state should increase subsidies to universities because the future of our country depends on education.

3095. Which of the following is true under pairwise majority rule if people vote for the outcome closest to their most preferred outcome ?
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A. The average preferred outcome wins

B. There is no clear winner due to Arrows Impossibility Theorem.

C. The outcome preferred by the greatest number of voters wins.

D. The outcome preferred by the median voter wins

3096. Which of the following statements is true ?
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A. All costs are variable in the short run

B. All costs are variable in the long run

C. All costs are fixed in the short run.

D. All costs are fixed in the long run

3097. How much wood the forest sector provides ?
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A. 2.5 million hectares

B. 3.5 million hectares

C. 4.5 million hectares

D. 5.5 million hectares

3098. Suppose that 40 percent of the voting population wish to spent Rs1,000 for artwork in City Hall, 25 percent wish to spent Rs20,000 and 35 percent wish to spend Rs 22,000 What is the median preferred outcome, the average preferred outcome and the modal preferred outcome ?
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A. Rs1,000; Rs20,000; Rs22,000

B. Rs1,000; Rs14,333; Rs1,000

C. Rs20,000; Rs13,100; Rs1,000

D. Rs20,000; Rs20,000; Rs22,000

3099. In Northern Areas total forest area is ?
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A. 0.55 million hectares

B. 0.33 million hectares

C. 0.66 million hectares

D. 0.83 million hectares

3100. The base of all of the following fuels is organic materials except that of ?
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A. Natural gas

B. Uranium

C. Coal

D. Petroleum

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