economics MCQs – Page 322

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 Review each marked answer and report any item that may be outdated or unclear.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

6421. What is the Phillips curve ?
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A. a deflationary curve

B. a graphic representation of conflict between full employment and inflation

C. a reference to a government economist favoring high taxes

D. a special kind of screw driver that reflects the functioning of the economy

6422. The norm of reciprocity entails______________?
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A. doing something in return for what someone has done for you

B. doing things in an institutionalized way

C. all of the above

D. working jointly in a common enterprise for a shared goal

6423. The American democratic system is based on________________?
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A. all of the above

B. representation of the majority

C. the dignity of the individual

D. protection of minority rights

6424. Which of the following is identified with the elitist view _____________?
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A. C.Wright Mills

B. Karl Marx

C. Paul Samuelson

D. BOTH Mills and Marx

6425. The Keynesian revolution acknowledged_________________ ?
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A. that the market was inherently unstable

B. the need for the intervention of the owners of the means of production

C. that industrial workers were becoming the new bourgeoisie

D. that the masses were being exploited

6426. If we add the numerical values of all our cases together and divide by the number of cases we get the_______________?
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A. moot

B. median

C. mode

D. mean

6427. A number of social commentators fear that having become a nation of hyphenated Americans ?
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A. the United States will be divided into a number of smaller nations

B. we may begin to our national identity

C. we will not defend the nation from invasion

D. we must keep out all new immigrants

6428. Emotional stress and maladjustment may occur as a result of______________?
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A. faulty role performance

B. all of the above

C. improperly learned roles

D. status inconsistency

6429. An example of a state that has had to worry about and defend its very physical existence is_______________?
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A. Palestine

B. Lebanon

C. Egypt

D. Israel

6430. Most ideologies consist of________________?
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A. ideas that have been in existence for centuries

B. a set of complex algebraic expressions

C. ideas derived exclusively from ancient Greece

D. a body of doctrines beliefs and symbols

6431. From a sociological viewpoint to say that deviance has functions means that ?
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A. deviant acts are escape valves for anxiety

B. successful deviants become stronger people

C. deviant acts serve the individual,s purpose

D. deviance may contribute to group cohesion

6432. Engineers lawyers investment bankers top CEOs entertainers and so on are described as_____________?
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A. nouveau riches

B. generation x-ers

C. symbolic analysts

D. baby boomers

6433. The situation in the Middle East is an example of________________?
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A. conflict

B. competition

C. cooperation

D. all of the above

6434. The elitist school of thought asserts that______________?
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A. the elite is not always against the masses

B. the elite displays a monolithic power structure

C. the masses should rebel against the elite

D. the elite always works against the public interest

6435. Humanity is__________________?
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A. an aggregate

B. all of the above

C. a category

D. a group

6436. NAFTA binds which three countries into a single commercial entity ?
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A. United States Canada Puerto Rico

B. United States Canada Mexico

C. Mexico Panama Costa Rica

D. United States Cuba Mexico

6437. Resources are defined as___________________?
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A. anything that is derived from natural including

B. anything that is produced in factories

C. anything that is manmade

D. everything that is needed for the production of goods and services including human energy

6438. The primary function of the economy as a social institution is to________________?
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A. show people how to obtain goods and services without having to pay for them

B. convict felons in Common Pleas Cout

C. Provide a blueprint showing people how to survive

D. none of the above

6439. According to George Herbert Mead the self is______________?
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A. an individuals self-concept or self-awareness

B. a persons conscience

C. the subconscious mind

D. the equivalent of the libido in Freuds theory

6440. Studies of siblings who shared parents social class and everyday experiences have shown that they_____________?
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A. pretend to disagree when they really agree

B. perceive the same events in the same way

C. view the same experiences differently

D. arrive at a common view point through discussion

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