economics MCQs – Page 353

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 Review each marked answer and report any item that may be outdated or unclear.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

7041. If the EU imposes a quota on the importing of clothing produced in China, so reducing UK imports of clothing, which of the following is true regarding UK net exports ?
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A. Net exports will fall

B. Net exports will rise

C. Net exports will remain unchanged

D. None of these answers

7042. A sale maximizing firm will produce where ?
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A. sales revenue is maximized

B. MC = MR

C. AR minus AC is maximized

D. quantity sold is maximized

7043. Identify below those who are not stakeholders in a company ?
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A. Customers

B. None of the above

C. Employees

D. Owners

7044. The traditional profit-maximizing theory of the firm has been criticized by some economists because ?
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A. firms do not know how to maximize profits.

B. firms have other aims

C. it does not explain monopolistic competition

D. Both the first and second option

7045. The merger of fiber producer and a clothing firm would be _____ merger?
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A. conglomerate

B. homogeneous

C. horizontal

D. vertical

7046. The divorce of ownership and control tends to occur in ?
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A. sole proprietors

B. public limited companies

C. partnerships

D. monopolies

7047. The merger of a clothing firm and a software producer would be a _______ merger?
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A. homogeneous

B. horizontal

C. vertical

D. conglomerate

7048. When firm build in Organizational slack they do this in order to ?
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A. cope with unforeseen changes

B. maximize growth.

C. minimize conflict within the firm

D. both options one and three

7049. Galbraiths idea that firms are controlled by a technostructure supports _________ theories?
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A. classical economic

B. Williamsons

C. monetarist

D. Marxist

7050. Firms that engage in satisficing behavior are likely to be ?
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A. Like other firms in their industry.

B. growth maximisers.

C. leading firms in their industry

D. unlike other firms in their industry

7051. If firms satisfice this means that ?
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A. long-run profits are maximized

B. objectives such as profit are not maximized

C. managers need to be paid enough to stop them leaving the company

D. short-run profits are maximized

7052. A firm may be unable to maximize profits because it ?
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A. has too much information

B. has too little information

C. The first and third option

D. does not know its MC and MR

7053. Behavioral theories of the firm concentrate on the _______ interests of _______?
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A. common; different parts of the firm

B. conflicting; managers

C. common; mangers

D. conflicting; different parts of the firm

7054. The divorce of owner ship and control causes a problem usually referred to by economists as ?
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A. moral hazard

B. profit myopia

C. principal-agent problem.

D. merger mania.

7055. Williamson suggests that managers might NOT try to achieve ?
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A. a large number of subordinates

B. maximum profits.

C. job security

D. respect of other managers.

7056. Fear to take-overs will lead firms to maximize ?
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A. profits.

B. sales revenue

C. managers utility

D. growth.

7057. Public limited companies may not maximize their profits because ?
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A. they are afraid of encouraging takeovers.

B. shareholders have little control over managers.

C. shareholders want higher dividends.

D. both the first and third option.

7058. Sales maximization is likely to take place in markets that are ?
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A. contestable

B. perfectly competitive

C. export-oriented

D. oligopolistic

7059. Which of the following is NOT a common reason for a merger?
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A. To achieve economies of scale

B. To achieve faster growth

C. To increase competition

D. To reduce uncertainty

7060. Growth maximization is the same as ?
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A. Sales maximization

B. maximization the growth of sales revenue.

C. long-run profit maximization.

D. sales revenue maximization

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