economics MCQs – Page 334

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 Review each marked answer and report any item that may be outdated or unclear.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 economy2. profit maximizing under perfect competition and monopoly3. application of economics4. the aggregate demand aggregate supply model5. surplus6. money interest rates and output7. average and total cost8. stabilization adjustment reform and privatization9. risks and diversification efficient market hypothesis10. the phillips curve11. supply and demand12. capital formation investment choice information technology and technical progress13. aggregate supply unemployment and inflation14. elasticity15. comparative gdp16. roots of modern macroeconomics17. production factors18. poverty malnutrition and income inequality19. trade regulations and industrial policies20. monetary union21. exchange rate systems and currency crises22. economic development in historical perspective23. exchange rate determination24. monopoly competition25. the balance of payments26. inflation productivity27. macroeconomic issues and analysis28. employment migration and urbanization29. macroeconomic policy tools30. supply side policies31. exchange rate adjustments and the balance of32. miscellaneous33. taxation34. trade policies for the developing nations35. markets efficiency and the public interest36. the external debt and financial crises37. budget deficits and the trade balance38. alternative theories of the firm39. public goods40. the meaning and measurement of economic development41. characteristics and institutions of developing countries42. agriculture irrigation system of pakistan43. education health and human capital44. economic problems of developing countries45. theories of economic development46. basic of economics47. consumer theory vs real consumers48. applied microeconomics49. long term economic growth50. externality internality51. fiscal and monetary policy52. prices wages taxes53. balance of payments aid and foreign investment54. international factor movements and multinational corporations55. entrepreneurship organization and innovation56. the international economy and globalization57. population and development58. non tariff trade barriers59. foundations of modern trade theory60. global economic development61. market62. rural poverty and agricultural transformation63. regional trading arrangements64. foreign exchange65. introduction to economics66. world economy miscellaneous67. sources of comparative advantage68. natural resources and the environment toward sustainable development69. monopoly70. asymmetric information71. income inequality72. labour market73. tariffs74. development planning and policy making the state and the market75. oligopoly76. industrial development77. costs supply and perfect competition78. human capital79. monetary fiscal and incomes policy and inflation80. stocks
6661. Knowing the workings of a car engine represents which kind of knowledge ?
comments icon0

A. normative

B. value oriented

C. rule oriented

D. cognitive
6662. To maximise sales revenue a firm should produce where ?
comments icon0

A. Marginal cost is zero

B. Marginal revenue equals marginal cost

C. Marginal revenue is maximised

D. Marginal revenue is zero

6663. Laws are_______________?
comments icon0
A. formal norms enforced by the state

B. less important than folkways

C. informal norms

D. casual folkways

6664. A fall in interest rates is likely to ?
comments icon0
A. Increase aggregate demand

B. Decrease exports

C. Increase savings

D. Decrease consumption

6665. Ethical neutrality is the opposite of_________________?
comments icon0
A. judgmental social science

B. participant observation

C. objectivity

D. generalization

6666. For the better part of recorded history knowledge about social relationships was principally based on ?
comments icon0
A. speculation

B. scientific investigation

C. inspiration

D. measurement

6667. Keynes suggested that decisions to consume and save were based on ?
comments icon0

A. permanent income

B. previous decisions

C. relative income

D. absolute income
6668. If the marginal revenue is Positive ?
comments icon0

A. Selling another unit will increase total revenue

B. Selling another unit will increase profits

C. Selling another unit will increase costs

D. Selling another unit will increase average revenue
6669. Which of the following is an injection into the economy ?
comments icon0
A. Taxation

B. Imports spending

C. Savings

D. Investment

6670. The profit per sale is a measure of ?
comments icon0

A. Profit

B. Realism

C. Profitability

D. Feasibility

6671. The social sciences lack ?
comments icon0

A. theories

B. scientific laws

C. concepts

D. generalization

6672. The accelerator assumes ?
comments icon0

A. The multiplier is constant

B. The marginal propensity to consume is constant

C. There is a constant relationship between net investment and the rate of change of output

D. The economy is at full employment

6673. An outward shift in the Marginal Efficiency of Capital should ?
comments icon0

A. Slow economic growth

B. Decrease consumption

C. Reduce aggregate supply

D. Increase aggregate demand

6674. In defining social sciences which of the following phrases is the most appropriate?
comments icon0

A. social philosophy

B. study of individual behavior

C. rules for behavior

D. systematic and methodical study
6675. When does a society need laws ?
comments icon0

A. when it is necessary to create folkways and mores

B. when people commit too many sins

C. when the folkways and mores are not sufficient to control behavior

D. when the court system declares that they are needed

6676. The marginal propensity to consume is equal to ?
comments icon0

A. change in consumption / change in income

B. Total consumption / total income

C. Total spending / total consumption

D. Change in consumption / change in savings

6677. Barriers to entry ?
comments icon0

A. Occur in perfect competition

B. Enable losses to be made in the long run

C. Enable abnormal profits to be made in the short run only

D. Enable abnormal profits to be made in the long run

6678. Durkheim was one of the first scientific sociologists who studied______________?
comments icon0
A. suicide

B. sex

C. all of the above

D. mental illness

6679. Which of the following is NOT an example of a subject investigated by social scientists ?
comments icon0

A. The course of population growth and decline

B. The functioning of supply and demand

C. The interaction of various drugs in humans

D. Case study of an urban gay community

6680. If labour productivity per week is 200 units and there are 5 employees what is the total output ?
comments icon0

A. 195 units

B. 1000 units

C. 200 units

D. 40 units