economics MCQs – Page 398

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 Review each marked answer and report any item that may be outdated or unclear.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

7941. The migrations of electricians from low-paying nations to high-paying nations is most likely to be challenged by ?
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A. electrician employers in the high-paying nations

B. electrician unions in the low paying nations

C. electrician unions in the high-paying nations

D. electricians who stay in the low paying nations

7942. Which business device involves the creation of a new business by two or more companies often for a limited period of time ?
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A. horizontal merger

B. multinational corporation

C. vertical merger

D. international joint venture

7943. ________ refers to the price charged for products sold to a subsidiary to a multinational corporation b another subsidiary in another country?
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A. marginal cost pricing

B. full cost pricing

C. transfer pricing

D. price discrimination

7944. The migration of employable workers from low-paying nations to high-paying nations tends to decrease ?
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A. total wage income in the world

B. business or capitalist income in the world

C. wage disparities

D. the productivity of labor

7945. The migration of employable workers from low-paying nations to high-paying nations will ?
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A. increase business or capitalist incomes in the high-paying nations

B. increase business or capitalist incomes in the low-paying nations

C. decrease wage rates in the low-paying nations

D. decrease productivity and real output in the world

7946. All of the following are potential advantages of an international joint venture except ?
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A. operating at diseconomy-of-scale output levels

B. sharing research and development cost among corporations

C. establishing work rules promoting higher labor productivity

D. forestalling protectionism against imports

7947. Multinational corporations face problems since they ?
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A. may raise political problems in countries where their subsidiaries operate

B. cannot benefit from the advantage of comparative advantage

C. can only invest at home but not overseas

D. can only invest overseas but not at home

7948. Multinational corporations ?
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A. always produce primary goods

B. None of the above

C. always produce manufactured goods

D. produce primary goods or manufactured goods

7949. ____ was a strategy for industrial development popular in Latin America in the 1950s 1 1960s for promoting domestic production by erecting high protective tariffs on imports of manufactured goods ?
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A. countervailing duties

B. dynamic hedging

C. export led growth

D. import substitution

7950. According to William Baumol under oligopolistic competition among large, high tech business firms. innovation has ?
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A. limited the expansion of firms

B. replaced price as the important

C. created stationary economies of scale

D. maintained the relationship between firms and their clients

7951. According to Webers thesis ?
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A. capitalism was most advanced in Protestant countries

B. Protestants disapproved of accumulating wealth

C. Protestants failed to restrict extravagance and conspicuous consumption

D. Roman Catholicism expressed its asceticism in a secular vocation

7952. Joseph Schumpeter is the exceptional economist who links the entrepreneur to ?
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A. innovation

B. land and labor

C. oligopolistic capitalism

D. resource management

7953. Which of the following was a socialist country ?
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A. India

B. #NAME?

C. Holland

D. Soviet Union

7954. Which of the following is an example of a Schumpeterian innovation ?
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A. The invention of the Stanley steamer

B. The production and marketing of the Model T Ford in the 19-teens

C. An existing internet provider provides competition to two other providers in Dayton Ohlio

D. An American buying a stock in the Philippines stock market

7955. The Protestant Ethic and the Spirit of Capitalism was written by ?
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A. Max Weber

B. Joseph Schumpeter

C. Adam Smith

D. William Baumol

7956. Which of the following is not an assumption of Schumpeters stationary state ?
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A. An economy below full employment

B. No entrepreneurial function is required

C. No savings or technical change

D. Perfect competition

7957. The entrepreneur can be viewed as the ?
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A. gap filler and input completer

B. decision maker under uncertainty

C. coordinator of other production resources

D. #NAME?

7958. Technical advance involves ?
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A. patent management resource gains mature innovation and speculative gains

B. innovation investment credit creation and economies growth

C. the development of pure science, invention innovation financing the innovation and the innovations acceptance

D. introducing new products modifying production functions creating credit and making profits

7959. Capitalism is an economies system ?
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A. based on government intervention in the means of production

B. that dominated developing economies in the 19 Century

C. that originated in the United States in the 19th Century

D. Where private owners of capital make decisions based on profit

7960. Which of the following is TRUE about gender and business world ?
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A. There are more women than men in U.S business because of the aspirations of U.S girls

B. LDC businesswomen have a better chance than men of getting credit from bankers and suppliers

C. Businesswomen in India are viewed as naturally stronger, less emotional more socially adept and more rational than businessmen

D. There are relatively few women in U.S business partly because of female socialization

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