economics MCQs – Page 397

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 Review each marked answer and report any item that may be outdated or unclear.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

7921. Hollis Chenery and Alan Strout identity three development stages in which growth proceeds at the highest rate permitted by the most limiting factors These factors are ?
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A. #NAME?

B. the foreign exchange gap

C. the savings gap

D. the skill limit

7922. Dani Rodrik points out that ?
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A. financial liberalization in LDCs leads to collapse of the economy

B. employers and consumers can more readily replace domestic workers with foreign workers by investing abroad or buying imports

C. globalization increases job insecurity

D. an economy more open to foreign trade and investment faces a more inelastic demand for unskilled workers

7923. Aid or official development assistance (ODA) includes ?
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A. #NAME?

B. technical cooperation

C. developments grants

D. loans with at least 25 percent grant element

7924. Carmen Reinhart and Kenneth Rogoff explain the paradox of capital flows from poor to rich countries by ?
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A. the price role of political and credit-market risk in many LDCs

B. the brain drains from LDCs to DCs

C. the law of increasing returns that implies that the marginal productivity of capital is higher in LDCs

D. the fat that the DC capital market is perfectly competitive

7925. For Harvards Dani Rodrik Globalization involves ?
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A. changes of a traditional culture of a country to a western culture

B. decreasing autonomy of the nation-state involves

C. giving aid to poor countries to improve their economy politics and social status

D. the increasing international integration of markets for goods services and capital

7926. Bilateral aid ?
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A. is aid with repayment in inconvertible currency

B. is technical aid given by IMF

C. is a loan at bankers standards

D. is given directly by one country to another

7927. An annual summary of countrys international economic and financial transactions is ?
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A. the trade accounts

B. the capital accounts

C. the international balance of payments statements

D. the long-term current account

7928. MNCs can help the developing country to ?
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A. Finance a savings gap or balance of payments deficit

B. Employ domestic labor, especially in skilled jobs

C. Obtain foreign technology by adapting existing processes

D. #NAME?

7929. U.S total official development assistance to developing countries is ?
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A. None of the above statements is true

B. is equivalent to Hollands aid

C. lowest among the OECD countries

D. higher currently than it was in the 1960s and 1970s

7930. I = S + F The equation above states that a country can increase its new capital formation (or investment) through is ?
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A. savings and financial liberalization

B. own domestic savings and by inflows of capital from abroad

C. stock market and fiscal policy

D. savings from abroad and financial outflow

7931. Columbias Jagdish Bhagwati criticizes United States administrations inability to distinguish between benefits of free trade ?
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A. and the dangers of free capital movements for LDCs with poorly developed financial institutions

B. and the external openness of income growth among the poorest 40 percent of LDCs

C. and the dangers of a trade deficit

D. and MNC domination and its effects on income distribution

7932. In a portfolio investment ?
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A. as in direct investment investors export goods and services abroad

B. investors have no control over operations

C. investors transfer the technology to local investors

D. investors are directly involved in managing the operations

7933. Guest worker programs usually result in temporary migration of workers from ?
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A. impoverished countries to wealthy countries

B. wealthy countries to wealthy countries

C. impoverished countries to impoverished countries

D. wealthy countries to impoverished countries

7934. Firms undertake multinational operations in order to ?
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A. obtain necessary factor inputs

B. hire low-income workers

C. All of the above

D. manufacture in nations they have difficult exporting to

7935. Accusations of American labor unions against U.S multinational firms include all of the following except ?
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A. export jobs by shifting technology overseas

B. export jobs by shifting investment overseas

C. enjoy unfair advantage in taxation

D. operating at output levels where scale economies occur

7936. Multinational corporations ?
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A. always enjoy political harmony in nations where their subsidiaries operate

B. increase the transfer of technology between nations

C. require governmental subsidies in order to conduct worldwide operations

D. make it harder to nations to foster activities of comparative advantage

7937. International joint ventures can lead to welfare losses when the newly established firm ?
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A. gives rise to increased amounts of market power

B. enters markets neither parent could have entered individually

C. yields cost reductions unavailable to parent firms

D. adds to the pre-existing productive capacity

7938. The market power effect of an international joint venture can lead to welfare losses for the domestic economy unless offset by cost reductions. Which type of cost reduction would not lead to offsetting welfare gains for the overall economy ?
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A. lower wages extracted from workers

B. R&D generating welfare improved technology

C. development of more productive machinery

D. new work rules promoting workers efficiency

7939. Which of the following is not an example of foreign direct investment ?
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A. the purchase of bonds or stock issued by a textile company overseas

B. the acquisition of an existing steel mill overseas

C. the creation of a wholly owned business firm overseas

D. the construction of a new auto assembly plant overseas

7940. American labor unions have maintained that U.S multinational corporations have been ?
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A. exporting American jobs by investing overseas

B. importing cheap foreign workers by keeping U.S investment at home

C. importing cheap foreign workers by shifting U.S investment overseas

D. exporting American jobs by keeping investment in the U.S

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