economics MCQs – Page 28

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 Review each marked answer and report any item that may be outdated or unclear.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

541. Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?
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A. higher

B. None of the above

C. about the same height

D. lower

542. P2P is business slang. What does it refer ?
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A. To startups or internet startup

B. Path to profitability

C. Both of them

D. None of them

543. GNP is_______________?
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A. Total monetary transactions in an economy

B. Total spending in an economy

C. The market value of all goods and services produced in an economy

D. Total sales in the economy

544. Which of the following is referred by the Debt retirement ?
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A. The complete repayment of debt

B. To repay debt in easy installments

C. To reschedule debt

D. To write-off debt

545. 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 $30 and its imports equal 30 radios

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

C. The price of radios in Mexico equals $60 and its imports equal 30 radios

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

546. Which country is the chief exporter of jute ?
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A. Bangladesh

B. India

C. Both of them

D. None of them

547. Which of the following is a form of international reserve assets, created by IMF in 1967 whose value is based on a portfolio of widely used currencies ?
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A. International Drawing Right (IDR)

B. Special Drawing Right (SDR)

C. Sure, Drawing Rights (SDR)

D. IMF Drawing Rights (SDR)

548. The effect of the most favored nation (normal trade relations) clause is to ?
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A. eliminate all tariffs between countries

B. increase all tariffs between countries

C. maintain a nondiscriminatory structure of tariffs

D. maintain a discriminatory structure of tariffs

549. Which of the following is an example of government policy that could reduce inflation ?
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A. increasing import duties

B. None of these

C. reducing government expenditure

D. increasing bank lending

550. 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. General Agreement on Tariffs and Trade

B. World Trade Organization

C. Smoot Hawley Organization

D. McKinley Agreement on Trade policy

551. What is Euro ?
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A. Deposit outside ones home country but in the home country currency

B. European currency unit, introduced on January 1, 1999

C. Both of them

D. None of them

552. The term liquidate refers to pay off a debt, a claim or an obligation or to settle the affairs by determining liabilities and applying assets to their discharge. What is also converted by the term?
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A. To convert assets into cash

B. Abolish

C. Both of them

D. All of them

553. Economic development is measured on the basis of ?
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A. Increase in personal income

B. Increase in real GNP

C. Increase in nominal GNP

D. Increase in government revenue

554. Exchange rate of which of the following currencies falls because of persistent balance of payments deficit ?
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A. Soft currency

B. Hard currency

C. Gold currency

D. Silver currency

555. Currency that is expected to drop in value relative to other currencies is called ?
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A. Local currency

B. Lime currency

C. Soft currency

D. Cold currency

556. A detailed, itemized list, report or record or things in ones possession or the process of making such a list, or items listed in this list, or the stock, is called inventory. Which of the following is also inventory ?
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A. An evaluation or a survey, as of abilities or resources

B. List of stock a company own

C. Total obligation of a firm

D. List of assets of a corporation

557. 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, increases

B. increases, increases

C. increases, decreases

D. decreases, decreases

558. Mention an international trade policy competitive devaluation and increased protective barriers that one country institute to gain at the expense of its trading partners ?
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A. Protectionist policy

B. Beggar-thy-beighbour

C. Nationalist policy

D. Domestic policy

559. The Liquidity Trap condition occurs at a_______________?
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A. Very low rate of interest

B. Low rate of interest

C. High rate of interest

D. Very high rate of interest

560. The U.S has granted China permanent most favored nation treatment (normal trade relations) This means that the tariff schedules which apply to U.S imports from china ?
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A. have lower tariff rates than the rates that apply to other countries to which the U.S grants most favored nation treatment

B. have lower tariff rates than the rates that apply to any other country sending goods to the United States

C. have tariff rates equal to zero suggesting a free trade policy for the United States

D. have tariff rates that are identical to the rates that apply to other countries to which the U.S grants most-favored nation treatment

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