economics MCQs – Page 337

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 Review each marked answer and report any item that may be outdated or unclear.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

6721. When an economy first begins to grow more slowly ?
0

A. Stock levels are likely to increase

B. GDP increase

C. Inflation is likely to increase

D. Investment in equipment is likely to increase

6722. Economic growth can be seen by an outward shift of ?
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A. The Minimum Efficient Scale

B. The Marginal Consumption Frontier

C. The Gross Domestic Barrier

D. The Production Possibility Frontier

6723. Price equals ?
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A. Total revenue / quantity sold

B. Total revenue / total cost

C. Total quantity sold quantity sold

D. Total revenue quantity

6724. Profit is measured by ?
0

A. Revenue total costs

B. Fixed cost + revenue

C. Revenue sales

D. Revenue fixed costs

6725. When marginal revenue equals marginal cost ?
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A. Total revenue equals total cost

B. There is the biggest positive difference between total revenue and total cost

C. There is the biggest negative difference between total revenue and total cost

D. Profits are Zero

6726. Industrial Revolution__________________?
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A. created a class of industrial workers

B. made all social classes equal

C. none of the above

D. eliminated social classes

6727. Which of the following is an example of material culture ?
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A. competition is good for you

B. A football games

C. The football itself

D. The NFL rules

6728. The first level of output at which the long run average cost are minimized is called ?
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A. The Minimum External Scale

B. The Maximum External Scale

C. The Maximum Effective Scale

D. The Minimum Efficient Scale

6729. Economic growth can be measured by ?
0

A. MPC

B. GDP

C. The CPI

D. The CBI

6730. It is true of science that_______________?
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A. its content is more important than its method

B. it is not concerned with the method of acquiring knowledge

C. it is body of knowledge organized in a logical manner

D. id does not include the method of investigation

6731. A way of helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?
0

A. interventionist policies

B. New classical economists

C. monetarists

D. left-wing theorists

6732. Cultural relativity ideally implies ?
0

A. that moral values different from one, s own are all wrong

B. everyones crazy except you and me (and Im not sure about you)

C. tolerance and respect for the cultural values of others

D. mindless acceptance of all cultural values of others

6733. The difference between goes investment and net investment is ?
0

A. Depreciation

B. Capital investment

C. Acceleration

D. Declaration

6734. As income increase ?
0

A. The average propensity to consume always approaches 0

B. The average propensity to consume gets nearer in value of the marginal propensity to consume

C. The average propensity to consume falls

D. The average propensity to consume diverges in value from the marginal propensity to consume

6735. In the long term a firm will produce provided the revenue covers ?
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A. Fixed costs

B. Revenue

C. Variable costs

D. Total costs

6736. The resources in the economy do not include ?
0

A. Land

B. Labour

C. Capital

D. Demand

6737. Which of the following is true ?
0

A. If the marginal cost is positive total costs are miximised

B. If the marginal cost is negative total costs increase at a decreasing rate if output increases

C. If the marginal cost is greater than the average cost the average cost falls

D. If the marginal cost is greater than the average cost the average cost increase

6738. The principal difference between people and other animals is that ?
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A. people communicate with symbols while animals communicate with signals

B. biology dictates human behavior while instincts direct animal behavior

C. people live in families while animals live in tribes

D. animals larger and stronger

6739. The resources in an economy are ?
0

A. Fixed at any moment

B. Able to be transferred easily between industries

C. Constantly increasing

D. Constantly decreasing

6740. Barriers to entry ?
0

A. Do not exist in monopoly

B. Do not exist in monopolistic competition

C. Do exist in perfect competition

D. Cannot exist in oligopoly

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