economics MCQs – Page 267

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 Review each marked answer and report any item that may be outdated or unclear.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

5321. If the exchange rate between the UK and Japan changes from 1 = 100 yen to 1 = 150 yen then ceteris paribus, the price of UK goods in Japan ?
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A. will decrease

B. could either increase of decrease

C. will remain the same

D. will increase

5322. In a fixed exchange rate regime, the central the exchange rate ?
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A. selling, increase

B. selling, reduce

C. buying reduce

D. C and D

E. A and B

F. buying increase

5323. Fiscal policy is weak under floating exchanges rates as fiscal expansion ?
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A. crowds out exports

B. crowds out imports

C. reduces the budget deficit

D. crowds out public consumption

5324. Unemployment resulting from imperfect information in the labour market is called ____ unemployment?
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A. disequilibrium

B. natural

C. Frictional

D. real-wage

5325. Aggregate supply is the total amount ?
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A. of goods and services produced in an economy.

B. of products produced by a given industry.

C. of labour supplied by all households

D. produced by the government

5326. If British residents want more French francs to purchase more French cloths other things equal, then the equilibrium value of the pound against the French franc will ?
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A. fluctuate

B. fall

C. rise

D. not change

5327. Floating exchange rates are ____ in the short run?
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A. volatile

B. depreciating

C. stable

D. predictable

5328. If the economy is at the peak of the business cycle, aggregate demand ____ unemployment _______ inflation _______ and the current account of the balance of payments is likely to move towards _______?
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A. falls; rises; falls; surplus

B. is static; low; rises; deficit

C. rise; falls; rise; deficit

D. falls; falls; falls; surplus

5329. With fixed exchange rates and no private currency flows, when the central bank buys domestic currency the domestic money supply is ?
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A. unaffected

B. reduced

C. None of these

D. increased

5330. A monetary union means ________, ________ and ________?
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A. permanently fixed exchange rates, free capital movements, a single interest rates

B. a common currency floating exchange rates common monetary policy

C. a common currency a single central bank, common monetary policy

D. permanently fixed capital movements floating exchange rates a fixed structure of interest rates

5331. An individual who is not working and who has given up looking for work is classfied as ?
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A. unemployed.

B. a discouraged worker:

C. unemployable

D. hard core unemployed.

5332. Which does the government not control directly ?
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A. Spending on education

B. Spending on defence

C. Firms investment decisions

D. Spending on health

5333. The record of countrys imports and exports of goods is called its ?
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A. balance of trade:

B. balance of payments on current account

C. visible trade balance

D. balance of payments

5334. perfect international capital mobility suggests that international funds will be responsive to ________ differentials?
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A. price

B. current account

C. interest rate

D. tax

5335. All of the following are benefits of the single market except ?
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A. it allows countries to exploit their comparative advantage, more fully

B. it intensified competition

C. firm could more readily exploit

D. economies of scal

E. it is easier to book holidays in member countries

5336. In the EMU a countrys competitiveness can change because of ?
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A. interest rate adjustment

B. devaluation

C. domestic wage and price adjustment

D. central bank intervention in the Forex

5337. The labour force can be defined as ?
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A. The population between school leaving age and retirement age.

B. anyone who is working or actively seeking work

C. Those who could claim benefit if they were to become unemployed.

D. Those of working age who are seeking work and are available to for work at current wage rates.

5338. The single European Act committed ________ governments to a ________ in 1992?
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A. Western European, single market

B. European union, single market

C. Western European, single currency area

D. European Union, single currency area

5339. In the short run the level of floating exchange rates is determined mainly by ?
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A. trade

B. speculation

C. competitiveness

D. interest rates

5340. Government policies that focus on changing interest rates are called ?
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A. supply-side policies

B. fiscal policies

C. incomes policies

D. monetary policies

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