economics MCQs – Page 335

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 Review each marked answer and report any item that may be outdated or unclear.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

6681. In macroeconomics, equilibrium is defined as that point at which ?
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A. aggregate output equals consumption minus investment

B. saving equals consumption

C. Planned aggregate expenditure equals aggregate output

D. planned aggregate expenditure equals consumption

6682. A way of helping depressed regions by having lower wages, lower local taxes and lower unemployment benefit has been suggested as ?
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A. Keynesian

B. left-wing theorists

C. New-Keynesian

D. market orientated economists

6683. A counterculture ?
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A. emphasizes math

B. opposes values of the mainstream culture

C. is based in stores

D. none of the above

6684. Investment is ?
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A. A withdrawal that decrease aggregate

B. An injection that decreases aggregate demand

C. An injection that increases aggregate demand

D. A withdrawal that increase aggregate demand

6685. Disposable income is the part of households income left after the deduction of ?
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A. income tax and social security payments

B. contractual payments such as pensions and mortgages

C. taxes and the addition of benefits

D. income tax

6686. According to the paradox of thrift increased efforts to save will cause ?
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A. a decrease in income and an overall decrease in saving

B. an increase in income but no overall change in saving

C. an increase in income and an increase in overall saving

D. a decrease in income but an increase in saving

6687. The liquidity trap occurs when the demand for money ?
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A. Means that an increases in the money supply leads to an increases in the interest rate

B. Is perfectly interest inelastic

C. Means that an increase in money supply leads to a fall in the interest rate

D. Is perfectly interest elastic

6688. Potential growth measures ?
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A. The rate of growth that could be achieved if resources were fully employed

B. The fastest growth an economy has ever achieved

C. the growth of the fastest economy in the world

D. The present rate of growth of an economy

6689. Which best describes price discrimination ?
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A. Charging the same prices for different products

B. Charging the same prices for same products

C. Charging different prices for the same products

D. Charging different prices for different products

6690. The social sciences first emerged ?
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A. to defend the established order

B. as a search for universal social laws

C. to systematically apply common sense to issues

D. as a method of social control

6691. If the marginal propensity to consume on domestic products is 0.9 the size of the multiplier is ?
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A. 1

B. 0.1

C. 9

D. 10

6692. If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 the marginal propensity to consume is what ?
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A. 800

B. 0.8

C. 810

D. 0.81

6693. Lower interest rates are likely to ?
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A. increase cost of borrowing

B. Decrease consumption

C. Increase spending

D. Encourage saving

6694. The accelerator theory of investment says that induced investment is determined by ?
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A. the level of aggregate demand

B. expectations

C. the level of national income

D. the rate of change of national income

6695. Scientific observations are based on_________________?
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A. precision

B. all of the above

C. controlled conditions

D. organization of the data

6696. People manipulate the social world which helps them to______________?
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A. take over the environment

B. change the nature of the physical environment

C. regulate the environment

D. adapt to the environment

6697. Investment is a unstable element of aggregate demand because it depends heavily on ?
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A. Government policy

B. National income

C. Expectations

D. Historic trends

6698. Normal profit occurs when ?
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A. Marginal revenue equals marginal cost

B. Average revenue equals marginal cost

C. Average revenue equals average cost

D. Average revenue equals average variable cost

6699. As resources are shifted from one industry to another this can be shown by ?
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A. An inward shift of the production possibility frontier

B. The pivoting of the production possibility frontier

C. A movement along the production possibility frontier

D. An outward shift of the production possibility frontier

6700. Ethnocentrism refers to_______________?
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A. an attitude with which members of one society judge another society according to their own standards

B. all of the above

C. the attitude that cultures be analyzed on their own terms

D. the attitude that certain values and practices are common to all cultures

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