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
8001. A reduced share of the world export market for the United States would be attributed to?
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A. High levels of investment by American corporations

B. High incomes of American households

C. Decreased productivity in U.S manufacturing

D. Relatively low interest rates in the United States

8002. The terms of trade measure ?
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A. Export prices compared to import prices

B. The GDP of one country compared to another

C. The quantity of exports of one country compared to another

D. The income of one country compared to another

8003. Import substitution is the replacement of ____ by domestic production _____ protection of ________?
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A. exports, patents

B. exports, subsidies

C. imports, subsidies

D. imports, high tariffs or import quotas
8004. International difference is opportunity costs lead to countries acquiring ?
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A. Comparative advantage

B. trade quotas

C. trade barriers

D. High exchange rates

8005. A country has a comparative advantage in the production of a product if the goods _____ cost in different from the goods _____ cost in another country ?
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A. money; opportunity

B. foreign exchange money

C. opportunity; opportunity

D. resource; resource

8006. International trade tends to cause welfare losses to at least some groups in a country ?
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A. The less mobile the countrys resources

B. higher the countrys initial living standard

C. The more mobile the countrys resources

D. The lower the countrys initial living standard

8007. International specialization takes place because of______________?
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A. All of the above

B. differences in technology

C. differences in factor endowments

D. scale economies

8008. Economists suggest that an optimum tariff would be one which reduce imports to a point where___________?
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A. import prices are the same as export prices

B. Price elasticity of imports is unity and tariff revenue is maximized

C. Comparative advantage is achieved

D. marginal social cost equals marginal social benefit
8009. Increased foreign competition tend to ?
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A. Intensify inflationary pressure at home

B. Place constraints on the wages of domestic workers

C. Increase profits of domestic import competing industries

D. Induce falling output per worker-hour for domestic workers

8010. When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
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A. trade creation and trade diversion

B. trade creation

C. trade diversion

D. trade channeling

8011. If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?
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A. 1B

B. 0.4A

C. 2.5A

D. 10A

8012. International trade in goods and services tends to ?
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A. Keep all domestic costs and prices at the same level

B. Increase all domestic costs and prices

C. Lessen the amount of competition facing home manufacturers

D. Increase the amount of competition facing home manufacturers
8013. Output fell sharply in the transition economies because ?
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A. banks were unable to function

B. All of the above

C. there was little corporate control

D. vital infrastructure was missing

8014. In a floating exchange rate system ?
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A. The Balance of payments will always equal the government budget

B. The exchange rate should adjust to equate the supply and demand of the currency

C. The government intervenes to influence the exchange rate

D. The Balance of payments should always be in surplus

8015. Tariffs ?
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A. Increase the quantity of imports

B. Increase government earnings from tax

C. Decrease domestic production

D. Decrease the domestic price of a product

8016. The level of the equilibrium exchange rate offsets international differences in ?
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A. relative costs

B. absolute advantage

C. opportunity cost

D. comparative advantage

8017. If goods are exported for less than societys marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?
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A. a quota

B. an import subsidy

C. an export subsidy

D. comparative advantage

8018. International trade forces domestic firms to become more competitive in terms of ?
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A. Product price

B. The introduction of new products

C. Product design and quality

D. All of the above
8019. An optimal tariff is one which reduces imports to the level at which ____ equals ____?
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A. imports, exports

B. The demand for currency the supply of currency

C. social marginal cost, social marginal benefit

D. the balance of trade, zero

8020. A primary reason why nations conduct international trade is because ?
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A. interest rates are not identical in all trading nations

B. Trade enhances opportunities to accumulate profits

C. Some nations prefer to produce one thing while others produce another

D. Resources are not equally distributed to all trading nations
8021. Which American industry has least been affected by import competition in recent years ?
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A. Radios and TVs

B. Steel

C. Computer software

D. Automobiles

8022. Economic integration ?
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A. occurs when two or more nations join to form a free-trade zone

B. occurs when countries are granted most favored nation status

C. Occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets

D. occurs when one country voluntarily agrees to reduce its exports to another country

8023. A demand switching policy could be ?
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A. Higher income tax

B. Higher interest rates

C. Tariffs

D. Reduced government spending

8024. Economic transition involves high inflation because _____ and ______?
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A. high monetary growth high wages

B. Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue

C. high monetary growth devaluation

D. high budget deficits devaluation

8025. A sudden shift from import tariffs to free trade may induce short-term unemployment in ?
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A. industries that neither import nor export

B. Industries that are only exporters

C. Industries that sell domestically as well as export

D. Import-competing industries
8026. For the United states, exports plus imports are about _____ of its gross national product?
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A. 5 percent

B. 25 percent

C. 55 percent

D. 10 percent

8027. If a nation has an open economy it means that the nation ?
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A. Has fixed exchange rates

B. Has flexible exchange rates

C. Allows private ownership of capital

D. conducts trade with other countries
8028. What is the ratio of Agriculturist by profession in Pakistan in (mid 2007) ?
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A. 70%

B. 55%

C. 45%

D. 65%

8029. In the Sub-Continent, first census was held in ?
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A. 1858

B. 1881

C. 1869

D. 1901

8030. The Essay on the Principle of Population was written by ?
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A. The World Bank

B. Julian Simon

C. Abraham Lincoin

D. Thomas Robert Malthus
8031. The density of population in Baluchistan is ?
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A. 28 per sq. Km

B. 59 per sq. Km

C. 18 per sq. Km

D. 39 per sq. Km

8032. The fifth Census was held in ?
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A. 1998

B. 2000

C. 1988

D. 1978

8033. What is the share of Sindh in the total population of Pakistan ?
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A. 25%

B. 22%

C. 28%

D. 23%
8034. What is the ratio of Punjabi speaking population ?
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A. 48%

B. 58%

C. 68%

D. 38%

8035. What is the density of population in Pakistan total population of Pakistan ?
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A. 32.5%

B. 42.60%

C. 41.00%

D. 38.60%

8036. The first census in Pakistan was held in ?
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A. 1948

B. 1951

C. 1961

D. 1959

8037. The density of population in Sindh is ?
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A. 239 per sq. Km

B. 212 per sq. Km

C. 270 per sq. Km

D. 305 per sq. Km

8038. Which is the most thinly populated province of Pakistan ?
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A. Baluchistan

B. K.P.K

C. Sindh

D. Punjab

8039. In which part of Pakistan the rate of increasing population is fastest ?
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A. Punjab

B. Islamabad

C. Sindh

D. FATA

8040. What was the crude birth rate of 1998 ?
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A. 30.5 per 1000

B. 32.5 per 1000

C. 35.4 per 1000

D. 31.8 per 1000

8041. Which of the following is most urbanized area in Pakistan ?
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A. Sindh

B. Punjab

C. Baluchistan

D. K.P.K

8042. What is the share of population between 15 to 60 years of age in total population ?
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A. 50%

B. 45%

C. 48%

D. 55%

8043. Which is the second densely populated province of Pakistan ?
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A. K.P.K

B. Punjab

C. Sindh

D. Baluchistan

8044. The density of population in K.P.K is ?
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A. 291 per sq. Km

B. 270 per sq. Km

C. 196 per sq. Km

D. 235 per sq. Km
8045. The ratio of Urdu speaking population is ?
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A. 8%

B. 16%

C. 12%

D. 18%

8046. The second major profession in Pakistan is ?
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A. Civil Service

B. Industry

C. Agriculture

D. Trade

8047. According to last census, the population growth rate in Pakistan was ?
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A. 3.70%

B. 2.61%

C. 4.10%

D. 3.90%

8048. What is the share of Pakistan population in the total population of world?
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A. 2.3%

B. 2.80%

C. 2.70%

D. 2.60%

8049. The density of population in Punjab is ?
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A. 211 per sq. Km

B. 270 per sq. Km

C. 305 per sq. Km

D. 353 per sq. Km
8050. The development of high-yielding varieties (HYVs) of wheat and rice is known as ?
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A. the agribusiness revolution

B. Agri-R&D

C. the Green Revolution

D. farming system theory