economics MCQs – Page 40

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 Review each marked answer and report any item that may be outdated or unclear.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

781. The differences between a countrys merchandise exports and its merchandise imports is the ?
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A. current account

B. capital account

C. balance of payments

D. balance of trade

782. The difference between a countrys balance of payments and its balance of international indebtedness?
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A. occurs because of foreign exchange fluctuations

B. reflects statistical discrepancies

C. is equal to official reserve transactions

D. reflects the difference between flow and stock concepts

783. For the United states, exports plus imports are about _____ of its gross national product?
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A. 5 percent

B. 25 percent

C. 10 percent

D. 55 percent

784. For the United States, commercial jetliners are ?
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A. Neither exported nor imported

B. Imported, but not exported

C. Imported and exported

D. Exported, but not imported

785. A decrease the Price of foreign oil ?
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A. Shifts the short-run Phillips curve downward and make the unemployment inflation trade-off less favorable

B. Shifts the short run Phillips curve downward and makes the unemployment inflation trade off more favorable

C. Shifts the short run Phillips curve upward and makes the unemployment inflation trade-off more favorable

D. Shifts the short run Phillips curve upward and makes the Unemployment inflation trade off more favorable

786. The formula for the Laspeyres price index is (o is the base year and n is the given year) ?
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A. P = ?Pnqo/?poqo

B. P = ?Poqo/?poqo

C. P = ?Poqn/?poqo

D. P = ?Poqo/?pnqn

787. The formula to calculate Passche price index is (o is the base year and n is the given year) ?
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A. P = ?Pnqo/?poqo

B. P = ?Pnqn/?poqn

C. P = ?Pnqn/?poqo

D. P = ?Poqo/?pnqn

788. When investment is assumed to autonomous the slope of the AD schedule is determined by the ?
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A. disposable incomes

B. marginal propensity to invest

C. average propensity to consume

D. marginal propensity to consume

789. The role of _______ is to direct one nations savings into investments of another nation?
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A. services flows

B. capital flows

C. current account flows

D. merchandise trade flows

790. Government payments made to domestic firms in order to encourage exports are called ?
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A. subsidies

B. Side payments

C. export quotas

D. Tariffs

791. If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?
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A. 10A

B. 1B

C. 0.4A

D. 2.5A

792. Economic transition involves high inflation because _____ and ______?
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A. Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue

B. high monetary growth devaluation

C. high budget deficits devaluation

D. high monetary growth high wages

793. 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. 130

B. 6500

C. 650

D. 0.0065

794. Free traders maintain that an open economy is advantageous is that it provides all of the following except ?
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A. The utilization of the most efficient production methods

B. A wider selection of products for consumers

C. Relatively high wages levels for all domestic workers

D. Increased competition for world producers

795. When we refer to the hidden economy we mean unrecorded income owing to ?
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A. tax evasion

B. smuggling

C. poor statistics

D. the lags between statistical collection and publication

796. A countrys transactions with the rest of the world are recorded in the ?
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A. balance of international indebtedness

B. balance of payments

C. income statements

D. balance of financial transactions

797. International trade forces domestic firms to become more competitive in terms of ?
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A. Product design and quality

B. The introduction of new products

C. All of the above

D. Product price

798. Referring to the above table, the U.S balance of international indebtedness suggests that the U.S is a net ?
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A. creditor

B. debtor

C. exporter

D. spender

799. IF GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austri is US$555 and US$560 in 2011 and 2012 respectively, the real economic growth from 2011 to 2012 is ?
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A. 0.99%

B. 0.901%

C. 5%

D. 0.09%

800. What is Barans explanation for underdevelopment in Asia, Africa, and Latin America ?
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A. monopolistic business from abroad

B. reactionary ruling coalitions

C. weak domestic middle class

D. All of the above

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