economics MCQs – Page 252

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 Review each marked answer and report any item that may be outdated or unclear.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

5021. If the income elasticity of demand for a good is negative it must be ?
0

A. a normal good

B. an inferior good

C. a luxury good

D. an elastic good

5022. in general a flatter demand curve is more likely to be ?
0

A. price inelastic

B. price elastic

C. unit price elastic

D. none of these answers

5023. If a supply curve for a good is price elastic then ?
0

A. the quantity demanded is sensitive to changes in the price of that good

B. None of these

C. the quantity supplied is incentive to changes in the price of that good

D. the quantity supplied is sensitive to changes in the price of that good

E. That quantity demanded is insensitive to changes in the price of that good

5024. Technological improvements in agriculture that shift the supply of agricultural commodities to the right tend to ?
0

A. reduce total revenue to farmers as a whole because the demand for food is inelastic

B. increase total revenue to farmers as a whole because the demand for food is elastic

C. increase total revenue to farmers as whole because the demand for food is inelastic

D. reduce total revenue to farmers as a whole because the demand for food is elastic

5025. Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?
0

A. 0.66

B. 1.4

C. 0.75

D. 2

5026. If consumers think that there are very few substitutes for a good, then ?
0

A. demand would tend to be price elastic

B. demand would tend to be price inelastic

C. Supply would tend to be price elastic

D. none of these answers

5027. If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fishermans price elasticity of supply for fresh fish is ?
0

A. infinite

B. unable to be determined form this information

C. one

D. zero

5028. A decrease in supply (shift to the left) will increase total revenue in that market if ?
0

A. supply is price elastic

B. supply is price inelastic

C. demand is price elastic

D. demand is price inelastic

5029. If there is excess capacity in a production facility it is likely that the firms supply curve is ?
0

A. none of these

B. price inelastic

C. unit price elastic

D. price elastic

5030. Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?
0

A. Rs 30 per month

B. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0

C. Rs 0 per month

D. Rs 40 per month

5031. If an increase in the price of a good has no impact on the total revenue in that market demand must be ?
0

A. all of these answers

B. price elastic

C. unit price elastic

D. price inelastic

5032. The price elasticity of demand is defined as ?
0

A. none of these answers

B. the percentage change in income divided by the percentage change in the quantity demanded

C. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good

D. the percentage change in the quantity demanded divided by the percentage change in income.

5033. If demand is linear (a straight line) then price elasticity of demand is ?
0

A. inelastic in the upper portion and elastic in the lower portion

B. elastic in the upper portion and inelastic in the lower portion

C. inelastic throughout

D. constant along the demand curve

5034. If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?
0

A. 0.15

B. none of these

C. 1.00

D. 1.15

E. 1.5

5035. If supply is price inelastic the value of the price elasticity of supply must be ?
0

A. greater than 1

B. less than 1

C. infinite

D. none of these

E. Zero

5036. The demand for which of the following is likely to be the most price inelastic ?
0

A. transportation

B. airline tickets

C. taxi rides

D. bus tickets

5037. Which of the following would cause a demand curve for a good to be price inelastic ?
0

A. There are a great number of substitutes for the good

B. The good is luxury

C. The good is an inferior good

D. The good is a necessity

5038. If the cross-price elasticity between two goods is negative the two goods are likely to be ?
0

A. luxuries

B. substitutes

C. necessities

D. complements

5039. If Toyota builds a new plant in the north of England ?
0

A. once the plant starts producing cars UK GDP will rise more than UK GNP

B. There has been an increase in foreign portfolio investment in the UK

C. None of these answers

D. Once the plant starts producing cars UK GDP will rise less than UK GNP

5040. To increase growth, governments should do all of the following except ?
0

A. encourage saving and investment

B. nationalize major industries

C. Promote free trade

D. encourage research and development

E. encourage foreigners to investment in your country

Previous Next

Showing 5021 to 5040 of 9118 mcqs