economics MCQs – Page 186

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 Review each marked answer and report any item that may be outdated or unclear.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

3701. In an open or class society_________________?
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A. status is always achieved

B. status is always ascribed

C. status is both achieved and ascribed

D. status has no importance

3702. The largest of the world regions containing 44 countries is_____________?
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A. Europe

B. Asia

C. North America

D. Sub-Saharan Africa

3703. In one sense of the term everyone is ethnocentric This is because______________?
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A. people are afraid and distrustful of strangers

B. it is virtually impossible not to view people and situations in terms of some of the norms and categories derived from one,s own cultural experiences

C. it is impossible to understand another culture or subculture without having been raised in it

D. people are intolerant by nature

3704. Which is NOT an aim of the process of socialization ?
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A. To teach infants to sit stand walk and run in that order

B. To transmit skills important in the society

C. To teach infants the fundamentals of life in society

D. To instill societal aspirations

3705. Telling a child You should always say thank you when someone gives you something is an example of____________?
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A. subconscious socialization

B. conscious socialization

C. unconscious socialization

D. conscience socialization

3706. Labeling theory has been criticized because_________________?
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A. it discounts the power of anomie

B. it is necessary to be realistic about peoples behavior

C. an undiscovered teller who steals from his bank is still a deviant

D. it does not take biology into consideration

3707. What is one difference between Freuds developmental stages and Eriksons ?
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A. Freud saw conflicts with parents as predominant

B. Freud stopped at adolescence

C. Freud only worked with males

D. Freud thought all conflicts were conscious

3708. Socialization involves the use of which process to turn a horde of barbarians into productive human beings ?
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A. reinforcement

B. trial and error

C. symbolic and physical interaction

D. prohibition

3709. Faulty role performance ?
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A. all of the above

B. sometimes occurs by chance

C. may create much stress

D. could mean that another role is being performed well

3710. Violation of a folkway is considered ?
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A. a violation striking to the very heart of society

B. a legally punishable offense

C. an incident of no consequence whatsoever

D. a slight to one,s group but not a punishable offense

3711. The price system_______________?
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A. allows wealthy consumers to obtain more products

B. is equitable

C. only B and C

D. rations products among consumers

3712. The study of human group behavior is the definition of________________?
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A. none of the above

B. psychology

C. sociology

D. geology

3713. A reference group is a(n) ?
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A. hierarchical system in an organization

B. formal or informal organization to which one belongs

C. group of which one is member without having asked to be

D. group to which an individual aspires to belong

3714. The social sciences were initially concerned with the consequences of_______________?
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A. the Industrial Revolution

B. the Russian Revolution

C. the French Revolution

D. the American Revolution

3715. To some degree according to some research heredity determines_____________?
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A. all of the above

B. the ability to control impulses

C. sociability

D. leadership abilities

3716. A persons family in addition to being a primary group is also a______________?
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A. voluntary group

B. Gesellschaft

C. membership

D. reference group

3717. Formal organizations have_______________?
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A. no ranking of their members

B. no people in them

C. little durability

D. clearly stated goals and policies

3718. Open stratification systems are associated with__________________?
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A. industrialization

B. pastoralism

C. hunter-gatherers

D. agriculture

3719. According to Freud the crucial institution for the development of personality is______________?
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A. religion

B. the family

C. education

D. the economy

3720. The condition of an increase in prices NOT triggered by an increase in demand is called_______________?
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A. inflation

B. hyperinflation

C. the Pigou effects

D. restraint of trade

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