economics MCQs – Page 231

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 Review each marked answer and report any item that may be outdated or unclear.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

4601. According to the classical economists, the only gainers from growth would be ?
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A. politicians

B. landlords

C. peasants

D. The army

4602. An index of prices of all domestically produced goods in the economy is the ?
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A. wholesale price index (WPI)

B. Producer price index (PPI)

C. GDP deflator

D. Consumer price index (CPI)

4603. Injection into the circular flow are ______ and __________?
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A. investment government expenditure exports

B. investment exports transfer payments

C. consumption investment exports

D. taxes exports, transfer payments

4604. If a result of households wish to save more there is a change in equilibrium income and no change in equilibrium saving this is an example of ?
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A. market failure

B. the paradox of thrift

C. market imperfection

D. the law of diminishing returns

4605. In the economy when a steel producer sells steel to car producer it is regarded as ?
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A. an intermediate good

B. a leakage

C. an injection

D. a final good

4606. Indicate below what is NOT a main macroeconomic goal ?
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A. Reducing inflation

B. Reducing unemployment

C. Increasing North Sea oil production

D. Achieving a sustainable rate of economic growth

4607. The total multiplier for the economy will reflect ?
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A. MPC and MPZ

B. MPT and MPZ

C. MPC and MPT

D. MPC, MPT and MPZ

4608. Higher export demand __________ output and a higher MPZ __________ output?
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A. increase, reduces

B. increases, increases

C. reduces, increase

D. reduces, reduces

4609. Aggregate demand includes only ?
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A. sumer expenditure and investment

B. consumer expenditure government expenditure and investment

C. consumer expenditure investment government expenditure and exports less imports

D. consumer debt investment debt and government debt

4610. Real GNP measures income ?
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A. including tax evasion

B. including externalities

C. including non-market activities

D. adjusted for inflation

4611. Two of the major factors contributing to growth are ?
0

A. resources and a good climate

B. money and luck

C. money and efficiency

D. resources and efficiency

4612. The percentage of the labor force that is unemployed is the ?
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A. unemployment population ratio

B. employment rate

C. unemployment rate

D. labor force rate

4613. The multiplier tells us how much __________ changes after a shift in ____________?
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A. savings investment

B. consumption income

C. investment output

D. output aggregate demand

4614. If the MPC is 0.5 the multiplier is ?
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A. 0.2

B. 2-Jan

C. 20

D. 2

4615. Aggregate demand in an economy trading internationally with a government sector can be written as ?
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A. AD = C + I + G + X + Z

B. AD = C + I + G

C. AD = C + I

D. AD = C + I + G + X Z

4616. when the level of income _________ there will be a tendency for the trade balance to improve as imports?
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A. falls, fall

B. increase, increase

C. falls, increase

D. increase, fall

4617. If a firm has some degree of market power, then output price ?
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A. is determined by the actions of other firms in the industry

B. no longer influences the amount demand of the firms product

C. becomes a decision variable for the firm

D. is guaranteed to be above a firms average cost.

4618. In monopolistic competition firms achieve some degree of market power ?
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A. because of barriers to entry into the industry

B. by producing differentiated products

C. because of barriers to exit from the industry

D. by virtue of size alone

4619. Maximum profit can be shown on a diagram using ?
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A. the AC and MC curves

B. the MR and AR curves

C. the AC and AR curves

D. the MR and MC curves

4620. The slope of marginal revenue curve is ?
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A. the same as the slope of the demand curve

B. twice as steep as the demand curve

C. always equal to one.

D. half as steep as the demand curve

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