economics MCQs – Page 357

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 Review each marked answer and report any item that may be outdated or unclear.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

7121. Dual economies are countries ?
0

A. with a modern manufacturing sector as well as traditional agriculture sector

B. that specialize in labor intensive products more than capital intensive products

C. with double capital and labor/

D. with foreign owned and domestically owned capital

7122. The informal sector includes ?
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A. rtisans, cottage industrialists, petty traders, teashop proprietors

B. activities with little capital skill and entry barriers

C. garbage pickers jitney unauthorized taxis repair persons

D. #NAME?

7123. What is gross domestic product (GDP) ?
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A. income earned through foreign exchange

B. the number of dollars earned in industry

C. goods received from the nations residents

D. income earned within a countrys boundaries

7124. The low-income economies generally have the following except ?
0

A. deficient infrastructures

B. low life expectancies

C. low savings

D. a per capital GNP of more than $900

7125. Increases in real GNP per capita occur when ?
0

A. the level of consumption expenditures rises relative to the level of saving

B. the rate of growth of real GNP is greater than the rate of growth of population

C. tariffs and quotas prevent dollars from leaving the country

D. government programs direct resources away from investment goods to consumer goods.

7126. Which one of the following countries is not a high-income country ?
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A. Mexico

B. United Kingdom

C. Germany

D. Canada

7127. Peasants are ?
0

A. rural politicians

B. rural, religious group

C. rural industrialist

D. rural cultivators

7128. Clientelism ?
0

A. #NAME?

B. commands equals wealth, status or influence, based on unconditional loyalties and involving mutual benefits

C. is also known as patrimonialism

D. is the dominant pattern in many LDCs

7129. Industrialization?
0

A. inhibits development

B. id inversely related to development

C. is positively related to development

D. causes development

7130. Increasing in the real GNP per capita occur when ?
0

A. tariffs and quotas prevent countries from trading and thus prevent dollars from leaving each country

B. government programs direct resources away from investment goods to consumer goods.

C. the level of consumption expenditures rises relative to the level of savings

D. the rate of growth in real GNP is greater than the rate of growth in the population

7131. Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about ?
0

A. $25

B. $40,000

C. $100

D. $145

7132. A countrys export commodity concentration ratio is the ?
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A. proportion of the primary export commodity in total exports

B. total annual investment made in production of exported commodities

C. ratio of four leading commodities to total merchandise exports

D. average annual investment made in production of exported commodities

7133. Two or more nuclear families of parent(s) and children is known as ?
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A. dual family

B. institutional family

C. extended family

D. two-tier family tree

7134. Export primary commodity concentration ratios are ?
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A. total merchandise export divided by Gross National Income

B. food, raw materials minerals and organic oils and fat as a percentage of total merchandise exports

C. commodity exports as a percentage of GDP per capita of exporting country divided by importing country

D. export earnings as a ratio of population

7135. What is the ratio of population density of developing countries to the population of developed countries ?
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A. no more than 1

B. 10

C. 2

D. 20

7136. Which of the following is not a requirement for economic development ?
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A. natural resources

B. a temperate climate

C. an adequate capital bases

D. technological advance

7137. A countrys capital stock is the ?
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A. difference between GDP and capital consumption

B. sum of previous gross investment minus depreciation

C. approximated investment minus actual investment

D. inflow of investment from abroad

7138. According to Lewiss model the dual economy grows only when ?
0

A. agricultural sector uses modern equipment

B. modern manufacturing sector is labor intensive

C. agricultural sector hires labor economically

D. the modern sector increases its output share relative to the traditional sector

7139. The following statements are true about informal sector except ?
0

A. May be enterprises with less than 10 workers

B. Production is capital intensive

C. Uses no mechanical power

D. Uses family workers

7140. In low-income countries the average agricultural family produces a surplus ?
0

A. of zero

B. large enough to feed 25 other families

C. enough to supply only a small nonagricultural population

D. large enough of feed five other families

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