economics MCQs – Page 21

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 Review each marked answer and report any item that may be outdated or unclear.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

401. Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
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A. buy 8 million pounds of tin

B. sell 8 million pounds of tin

C. sell 4 million pounds of tin

D. buy 4 million pounds of tin

402. Which term is used for the total net value of all goods and services produced in a country in specified period of time ?
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A. Local income

B. National income

C. Gross income

D. Public income

403. According to the supply side of the vicious circle theory of development a country is poor because ?
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A. underemployment is too widespread

B. resource allocation is poor

C. technology levels do not allow for self sufficiency

D. it was previously too poor to save and invest

404. Balance of payments of a country includes ?
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A. Balance of trade

B. Capital receipts and payments

C. A and B of above

D. Savings and investment account

405. The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
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A. export orientation

B. commodity expansion

C. import substitution

D. flying geese

406. What is public sector ?
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A. Public corporations

B. All of them

C. Central and local government

D. Nationalized Industries

407. How is termed a written promise to pay back a specified sum of money at a stated time or on demand ?
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A. Promissory Note (PN)

B. Note of hand

C. Both of them

D. None of them

408. Velocity of circulation of money means ?
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A. The number of times a unit of money changes hands annually

B. The number of times as unit of money changes hands monthly

C. The number of times a unit of money changes hands daily

D. The number of times a unit of money changes value

409. To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
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A. multilateral contract program

B. export-led growth program

C. international commodity agreements program

D. generalized system of preferences program

410. What is referred by the term Portfolio ?
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A. Net assets of a company

B. Total unmovable assets of a company

C. A collection of investments, real or financial

D. Total profit of company in a year

411. Term the average income of the people of a country during a year ?
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A. Protection Income

B. Per capita Income

C. Domestic income

D. National income

412. When a commercial bank creates credit its immediate effect is that it raises__________________?
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A. The exchange rates

B. The real national income

C. The money supplies

D. The interest rates

413. Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ?
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A. Oligopsony

B. Grey market

C. Green market

D. Oligopoly

414. Bank loans are usually altered to have longer maturities in order to assist the borrower in making the necessary repayments. What these loans are called____________?
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A. None of these

B. Rearranged loans

C. Rescheduled loans

D. Altered loans

415. What is Free port ?
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A. Where no export duties are levied

B. Where no import duties are levied

C. Where everything can be import or export

D. Where no export or import duties are levied

416. Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
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A. the same as

B. Any of the above

C. relatively less than

D. relatively greater than

417. Which of the following is not an indirect tax ?
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A. Tariff

B. Income tax

C. Sales tax

D. Custom duty

418. The most industrialized country in Asia is ?
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A. Malaysia

B. Taiwan

C. South Korea

D. Japan

419. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
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A. purchase; decrease

B. sell; decrease

C. purchase; increase

D. sell; increase

420. Which form of business organization falls between a corporation and partnership ?
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A. Limited Company

B. joint company

C. Limited joint company

D. Joint stock company

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