economics MCQs – Page 355

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 Review each marked answer and report any item that may be outdated or unclear.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

7081. A congested toll road is ?
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A. a private good

B. a good produced by a natural monopoly

C. a public good

D. a common resource

7082. All of the following are high income countries except ?
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A. Japan

B. U.K

C. Singapore

D. South Africa

7083. According to the next basic needs include ?
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A. longevity and living standards

B. food, clothing and housing

C. health, education and quality housing

D. adequate nutrition, primary education health sanitation water supply and housing

7084. Longevity is proxy for ________ in the Human Development Index?
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A. living standard

B. health and nutrition

C. Purchasing Power Parity

D. infant mortality

7085. According to chapter 2 in the text which of the following is true ?
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A. The fastest growing countries must be the ones with the highest per capita GNP

B. Today all high and Upper-middle income countries are Western.

C. The boundary between rich and poor countries has become clearer in 1990s

D. A few poor countries like South Korea and Malaysia in the 1950s grew much more rapidly than some higher-income countries like Uruguay and New Zealand

7086. Which of the following countries is not a low income country ?
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A. Indonesia

B. Malaysia

C. Nigeria

D. India

7087. The three measure of welfare indicators above comprise the ?
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A. Human Development Index

B. Physical Quality of Life Index

C. Purchasing Power Parity

D. The Laspeyres index

7088. PPP is ?
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A. a theory that tells us that exchanged rates between currencies are in equilibrium when their purchasing power is the same in both countries

B. GDP divided by exchange rate

C. a measure of income inequality

D. a measure of infant mortality in developing countries

7089. The formula to calculate economic growth from 2001 to 2002 is given by ?
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A. [(GDP2001 GDP2002]100

B. [(GDP2002 + GDP2001)/GDP2001]100

C. [(GDP2002 GDP2001) GDP2001]100

D. [(GDP2002 GDP2001)/GDP2001]100

7090. Which of the following statement is not true about LDCs ?
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A. A greater share of GNP would have to be devoted to education to attain the same primary enrollment rates as in the U.S

B. Most LDCs have less than 1/10 the per capita GNP of the U.S

C. Most LDCs have a greater shortage of qualified teachers than the U.S does

D. Setting up western labor standard and minimum wages in labor-abundant LDCs is sensible

7091. Economic growth from current year (c) to previous year (p) is given by ?
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A. GNPc DGPp100)

B. [GDPp GDPc]100

C. [(GDPc GDPp) DGPp]100

D. [(GDPc GDPp)/ DGPp]100

7092. One classification of development levels used by the World Bank divides countries into three group on the basis of GNP per capita They are ?
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A. NIC, OPEC and G7

B. Asia, America and Europe

C. Southeast Northeast and Southwest

D. Low income , middle income and high income

7093. Which of the following are low income countries income country ?
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A. Mexico

B. Australia

C. United States

D. Canada

7094. If GDP for Palau a small country near southeast of the Philippines is $130 million in 2012 and its population is 20,000 GDP per capita is ?
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A. 650

B. 130

C. 0.0065

D. 6500

7095. Infant mortality ?
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A. is life expectancy up to age 3

B. is defined as the annual number of deaths of infant under 1 year old per 1,000 live births

C. reflects the availability of hospitals and childcare facilities and the parents wealth

D. reflects the availability of primary education the rights of employments and social security

7096. Imitating labor standards from rich countries in LDCs may increase ?
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A. equality

B. poverty

C. employment

D. human development

7097. If GNP for Vatican City the smallest country in the world is 200 million euros in year 2011 and its population is 890 GNP per capita is_____________?
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A. 2000 890

B. 200

C. 200,000,000/890

D. 200/890

7098. The World Banks GNP per capita classification for low income middle income and high income countries respectively is ?
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A. less than $100, $100-$1000 and more than $1000

B. less than $5000, $5000-$15000 and more than $15000

C. less than $900, $900-$9000 and more than $9000

D. less than $5000, $5000-$150000 and more than $150000

7099. OPEC is the ?
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A. Organization of Petroleum Exporting Country

B. Organization of Problematic Economies Committee

C. Oil Producing Economies Caucus

D. Organization of Pre-European Commission

7100. The Paasche index uses _________ weights?
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A. base-year

B. fisher-ideal index

C. current-year

D. Purchasing Power Parity (PPP)

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