economics MCQs – Page 256

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 Review each marked answer and report any item that may be outdated or unclear.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 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
5101. According to Human Development Report 2003, about ________ countries were poorer in 2003 than in 1990?
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A. 50

B. 1000

C. 5

D. 100

5102. The Human Development Report 2003, which assumes that poverty is multidimensional calculates a human poverty index based on which of the following measures of deprivation ?
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A. probability at birth of not surviving to age 40

B. lack of a decent standard of living

C. #NAME?

D. adult illiteracy rate

5103. Sala-i-Martin interpolates income distribution by ?
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A. simulation

B. quientiles

C. percentiles

D. relative ratio measures

5104. In 2003, the UN Development Program estimated that a 1-percent LDC per capita consumption growth, with income inequality unchanging, would reduce the poverty percentage by _________ percent yearly?
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A. 0

B. 2

C. 0.5

D. 6

5105. Income inequalities are often shown on a ?
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A. marginal inequality curve

B. sen curve

C. Lorenz curve

D. production possibility curve

5106. Sens welfare theory relies on ?
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A. individuals capabilities

B. individuals wealth

C. individuals accomplishments

D. individuals education

5107. Compared to what occurred under free trade, Mexicos producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?
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A. decreases, decreases

B. increases, decreases

C. increases, increases

D. decreases, increases
5108. Under free trade suppose that Japan can supply radios t mexico at the price of $45 Therefore, Mexicos imports equal ?
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A. 15 radios

B. 10 radios

C. 5 radios

D. zero radios
5109. Referring to the above, the embargo was mainly resisted by ?
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A. U.S grains consumers and producers of bread

B. Grain consumers in foreign countries

C. Grain Producers in foreign countries

D. U.S farmers and grains companies
5110. All of the following are fundamental to the World Trade Organization except ?
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A. the prohibition of import quotas and export quotas

B. nondiscrimination in trading relationships

C. the use of the most-favored nation clause (normal trade relations)

D. bilateral tariff reductions to promote trade liberalization
5111. The organization that currently establishes rules of conduct for firms engaging in international trade is the ?
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A. International Trade Commission

B. World Trade Organization

C. World Bank

D. Department of justice

5112. Which round of international trade negotiations resulted in the creation of the World Trade Organization ?
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A. Tokyo Round of 1973-1979

B. Uruguay Round of 1986-1993

C. Kennedy Round of 1964-1967

D. Doha Round of 2003-2007

5113. ________ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods?
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A. domestic content

B. generalized system of preference

C. countervailing duty

D. safeguards
5114. When one country provides most favored nation status (normal trade relations) for another, it agrees to ?
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A. charge that nations products a higher tariff than any other nations

B. exports to that nation any products that it wants to purchase

C. charge that nations products a tariff rate no higher than that on any other nation

D. charge the nations products a lower tariff than any other nations

5115. The result of antidumping tariffs is to ?
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A. decrease producer surplus in the importing country

B. increase consumer surplus in the importing country

C. impose a price floor on foreign prices in the importing country

D. impose a price ceiling on foreign price in the importing country

5116. Suppose that Russia steel firms engage in dumping in the German market in terms of overall economic welfare, German welfare would _______ as the result of the dumping?
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A. an data-mce-type="bookmark" style="width: 0px;overflow: hidden;line-height: 0" class="mce_SELRES_start">?A. increase

B. decrease

C. not change

D. None of These

5117. To help its firms penetrate Mexicos radio market suppose the Japanese government provides them a subsidy of $15 for each radio shipped to Mexico As a result of this trade policy ?
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A. The price of radios in Mexico equals $60 and its imports equal 30 radios

B. The price of radios in Mexico equals $30 and its imports equal 30 radios

C. The price of radios in Mexico equals $40 and its imports equals 20 radios

D. Th price of radios in Mexico equals $20 and its imports equal 40 radios

5118. During the post-world War II era?
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A. NTBs and tariffs have decreased in relative importance

B. NTBs have increased and tariffs have decreased in relative importance

C. NTBs have decreased and tariffs have increased in relative importance

D. Nontariff barriers (NTBs) and tariffs have increased in relative importance

5119. Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the ?
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A. Smoot Hawley Organization

B. McKinley Agreement on Trade policy

C. General Agreement on Tariffs and Trade

D. World Trade Organization

5120. Antidumping duties applied to imported goods ?
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A. result in lower-priced goods for domestic consumers

B. result in decreases in consumer surplus for domestic households

C. are abolished by the World Trade Organization

D. are imposed by industrial countries but not developing countries