economics MCQs – Page 33

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 Review each marked answer and report any item that may be outdated or unclear.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

641. Which American industry has least been affected by import competition in recent years ?
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A. Automobiles

B. Radios and TVs

C. Steel

D. Computer software

642. It has become conventional classify a recession as a period where national output falls for _________ or more?
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A. two years

B. three years

C. a year

D. six months

643. If the government increases spending and raises taxes by just enough to finance this increase it will ?
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A. leave output unchanged

B. increase output

C. reduce output

D. increase the MPC

644. Arguments for free trade are sometimes disregarded by politicians because ?
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A. There exist sound economic reasons for keeping ones economy isolated from other economies

B. Maximizing consumer welfare may not be a chief priority

C. Economists tend to favor high protected domestic markets

D. Maximizing domestic efficiency is not considered imports

645. Which of the following is not an argument for protectionism ?
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A. To protect infant industries

B. To improve the balance of payments

C. To Protect strategic industries

D. To increase the level of imports

646. All of the following are credit items in the balance of payments except ?
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A. private gives to foreign residents

B. investment inflows

C. payments for American services to foreigners

D. merchandise exports

647. The debt-service ratio is the______________?
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A. interest and principle payments divided by exports of goods and services

B. ratio of debt net of portfolio investment financing and foreign direct investment

C. long-term debt divided by GDP of a country in a given year

D. default and reschedule debt minus annual export revenues that must be devoted to paying interest

648. International specialization takes place because of______________?
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A. scale economies

B. differences in technology

C. differences in factor endowments

D. All of the above

649. Starting from a balanced budget, for a given tax rate, an increasing in income will cause the government budget to ?
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A. None of the above above

B. remain unchanged

C. move into deficit

D. move into surplus

650. The main cause of different relative costs between countries are ?
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A. relative factor competition

B. relative factor substitution

C. relative factor endowments

D. relative factor mobility

651. The difference between the balance on current account and the balance on capital account is the ?
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A. trade deficit

B. balance of trade

C. balance of payments

D. statistical discrepancy

652. Shortly after 1979 World Bank introduced loans that emphasized reforms in trade, agriculture industry public enterprise financial energy education or other sectors and were known as ?
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A. sectoral adjustment loans

B. internal adjustment loans

C. external leverage loans

D. Structural adjustment loans

653. Lespeyres type indexes use weights from_____________?
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A. current period

B. forecasting

C. future year

D. base-period

654. The diagram that shows the income received and payments made by each sector of the economy is the ?
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A. income-price diagram

B. aggregate demand-aggregate supply diagram

C. circular flow diagram

D. income-expenditures diagram

655. Higher export demand __________ output and a higher MPZ __________ output?
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A. reduces, reduces

B. increases, increases

C. increase, reduces

D. reduces, increase

656. Purchases of government securities in the United States by foreigners is ?
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A. a debit item in the current account

B. a credit item in the capital account

C. a debit item in the capital account

D. a credit item in the current account

657. Which of the following countries is not a low-income country ?
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A. Ethiopia

B. Singapore

C. Rwanda

D. Somalia

658. International difference is opportunity costs lead to countries acquiring ?
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A. High exchange rates

B. Comparative advantage

C. trade quotas

D. trade barriers

659. The term tariff, as used in international trade refers to ?
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A. The price of goods when they leave the producing country

B. a government payment to encourage exports

C. a limit on the quantity of a good that can be imported into a country

D. a tax on imports

660. A primary reason why nations conduct international trade is because ?
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A. interest rates are not identical in all trading nations

B. Trade enhances opportunities to accumulate profits

C. Resources are not equally distributed to all trading nations

D. Some nations prefer to produce one thing while others produce another

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