economics MCQs – Page 400

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 Review each marked answer and report any item that may be outdated or unclear.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

7981. Technological improvements are similar to international trade since they both ?
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A. Reduce unemployment for all domestic workers

B. Ensure that industries can operate at less than full capacity

C. Provide benefits for all producers and consumers

D. Increase the nations aggregate income

7982. Free trade is based on the principle of ?
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A. Comparative scale

B. Production possibility advantage

C. Economies of advantage

D. Comparative advantage

7983. LDCs often have a comparative advantage in the production of ?
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A. financial services

B. primary products

C. intermediate products

D. manufactured products

7984. If the Uk placed a limit on the amount of steel that could be imported into the UK in a particular period this would be an example of ?
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A. a quota

B. a tariff

C. an export subsidy

D. dumping

7985. The main cause of different relative costs between countries are ?
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A. relative factor competition

B. relative factor mobility

C. relative factor substitution

D. relative factor endowments

7986. The real income of domestic producers and consumers can be increased by ?
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A. Technological progress, but not international trade

B. Neither technological progress nor international trade

C. Technological Progress and international trade

D. International trade but not technological progress

7987. Which of the following is not an argument for protectionism ?
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A. To improve the balance of payments

B. To protect infant industries

C. To Protect strategic industries

D. To increase the level of imports

7988. A main advantage of specialization results from ?
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A. Economies of large-scale production

B. The specializing country behaving as a monopoly

C. High wages paid to foreign workers

D. Smaller production runs resulting in lower unit costs

7989. Term of trade for a country are the ratio of _______________ to _____________?
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A. export prices; import prices

B. its currency; other currencies

C. its opportunity costs; world opportunity costs

D. Value of exports; value of imports

7990. For the United States, commercial jetliners are ?
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A. Exported, but not imported

B. Imported, but not exported

C. Imported and exported

D. Neither exported nor imported

7991. One of the main advantages of trade economists suggest is ?
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A. lower tariffs

B. development of tourism

C. technological change

D. competitions with foreign suppliers

7992. To prevent the external value of the currency from falling the government might ?
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A. Sell its own currency

B. Reduce interest rates

C. Buy its own currency with foreign reserves

D. Increase its own spending

7993. A feasible effect of international trade is that a (an) ?
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A. Monopoly in the home market becomes an oligopoly in the world market

B. Purely competitive firm in the home market becomes an oligopolist

C. Oligopoly in the home market becomes a monopoly in the world market

D. purely competitive firm in the home market becomes a monopolist

7994. Tariffs are used to protect infant industries these industries are those which ?
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A. use a new technology

B. are not yet large enough to achieve economies of scale

C. are competing with well-established overseas firms

D. employ many young or untrained workers

7995. LDCs are reluctant to pursue development through the export of primary products because of ____ and _____ ?
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A. The upward trend in commodity prices, the volatility of primary products real prices

B. The downward trend in commodity prices the stability of primary products real prices

C. The upward trend in commodity prices the stability of primary products real prices

D. The downward trend in commodity prices the volatility of primary products real prices

7996. If a country has a burden of debt it cannot sustain it can ?
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A. any of the above

B. default on the loan

C. reschedule debt

D. get a loan from an international organization

7997. What is not a feature of the EU as a single market ?
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A. Common security arrangements

B. Elimination of border controls

C. Each country can retain its own technical standards

D. No import taxes on goods bought in another members country

7998. All of the following represent obstacles to LDC development except ?
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A. low levels of investment

B. poor infrastructure

C. poor human capital

D. resource scarcity

E. low population

7999. The imposition of a tariff causes consumption to _____ and imports to _________?
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A. rise, rise

B. fall, fall

C. rise, fall

D. fall, rise

8000. The marginal propensity of consume is equal to ?
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A. Change in consumption / change in income

B. Total spending / total consumption

C. Change in consumption / change in savings

D. Total consumption / total income

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