economics MCQs – Page 268

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 Review each marked answer and report any item that may be outdated or unclear.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

5341. Cyclical unemployment is the ?
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A. Unemployment that occurs during recessions and depressions.

B. Unemployment that results when people become discouraged about their chances of finding a job so they stop looking for work.

C. Portion of unemployment that is due to the normal working of the labour market

D. Portion of unemployment that is due to changes in the structure of the economy that results in a significant loss of jobs in certain industries.

5342. Government policies that focus on increasing production rather than demand are called ?
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A. fiscal policies

B. monetary policies

C. omes policies

D. supply-side policies

5343. If the US economy is forecast to come out of recession because military expenditure has increase then the exchange value of the UK pound will tend to ?
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A. not be affected

B. fluctuate more than it would do therwise

C. depreciate

D. appreciate

5344. Which of the following is macroeconomic issue ?
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A. The price of houses in karachi

B. The level of unemployment is pakistan

C. The wage rate for plumbers in Islamabad

D. Your decision to work or stay at home

5345. Unemployment resulting from changes in the pattern of demand or supply in the economy is called _______ unemployment?
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A. structural

B. technological

C. demand-deficient

D. regional

5346. Since 1998 many government have defined unemployment using ?
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A. the number out of work and claiming benefit

B. the percentage of the labour force not in work

C. a labour force survey.

D. the ILO/OECD standardised unemployment measurement

5347. Which of the following is not involved with fiscal policy ?
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A. Income tax

B. National insurance

C. VAT

D. Interest insurance

5348. The natural rate of unemployment is generally thought of as the ?
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A. ratio of the frictional unemployment rate to the cyclical unemployment rate.

B. Sum of frictional unemployment and cyclical unemployment

C. sum of frictional unemployment and structural unemployment.

D. Sum of structural unemployment and cyclical unemployment.

5349. The percentage of the labour force that is unemployed is the ?
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A. Labour force rate.

B. Unemployment population ratio.

C. Unemployment rate

D. employment rate

5350. Unemployment resulting from real wages being above their equilibrium level is called _________ unemployment?
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A. frictional

B. natural

C. disequilibrium

D. structural

5351. Government policies that focus on changing taxes and government spending are called ?
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A. monetary policies

B. fiscal policies

C. incomes policies

D. supply-side policies

5352. Which of the following is not a macroeconomic issue ?
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A. Inflation

B. Economic growth

C. The wages paid to footballers

D. Unemployment

5353. Classifying discouraged workers as unemployed would ?
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A. decrease the unemployment rate

B. have an indeterminate impact on the unemployment rate

C. not change the unemployment rate

D. increase the unemployment rate

5354. Which of the following is not likely to be government objective ?
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A. Increasing economic growth

B. Increasing the level of exports

C. Increasing government spending

D. Increasing employment

5355. Aggregate demand is the total demand for all goods and services in an economy from ?
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A. all sectors of except the rest of the world

B. the household and government sectors

C. all sectors of the economy including the rest of the world.

D. the household sector.

5356. An economy that trades with and has financial dealing with other countries is called a/an ________ economy?
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A. open

B. free-trade

C. mixed

D. autarkic

5357. Which of the following is a policy instrument as opposed to a government objective ?
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A. lower interest rates

B. Lower unemployment

C. Faster economic growth

D. A better balance of trade position

5358. As prices rise, there will be costs of constantly changing price-tags and reprinting price-lists This is called ?
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A. cost-push inflation.

B. menu costs of inflation

C. real balance effect

D. money illusion.

5359. If interest rates rise then costs are likely to _______ and demand is likely to _________?
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A. fall; rise

B. rise; rise

C. rise, fall

D. fall; fall

5360. The record of countrys imports and exports of goods and services is called its ?
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A. balance of payments on current account

B. balance of payments.

C. balance of trade

D. visible trade balance

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