economics MCQs – Page 405

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 Review each marked answer and report any item that may be outdated or unclear.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 economy2. profit maximizing under perfect competition and monopoly3. application of economics4. the aggregate demand aggregate supply model5. surplus6. money interest rates and output7. average and total cost8. stabilization adjustment reform and privatization9. risks and diversification efficient market hypothesis10. the phillips curve11. supply and demand12. capital formation investment choice information technology and technical progress13. aggregate supply unemployment and inflation14. elasticity15. comparative gdp16. roots of modern macroeconomics17. production factors18. poverty malnutrition and income inequality19. trade regulations and industrial policies20. monetary union21. exchange rate systems and currency crises22. economic development in historical perspective23. exchange rate determination24. monopoly competition25. the balance of payments26. inflation productivity27. macroeconomic issues and analysis28. employment migration and urbanization29. macroeconomic policy tools30. supply side policies31. exchange rate adjustments and the balance of32. miscellaneous33. taxation34. trade policies for the developing nations35. markets efficiency and the public interest36. the external debt and financial crises37. budget deficits and the trade balance38. alternative theories of the firm39. public goods40. the meaning and measurement of economic development41. characteristics and institutions of developing countries42. agriculture irrigation system of pakistan43. education health and human capital44. economic problems of developing countries45. theories of economic development46. basic of economics47. consumer theory vs real consumers48. applied microeconomics49. long term economic growth50. externality internality51. fiscal and monetary policy52. prices wages taxes53. balance of payments aid and foreign investment54. international factor movements and multinational corporations55. entrepreneurship organization and innovation56. the international economy and globalization57. population and development58. non tariff trade barriers59. foundations of modern trade theory60. global economic development61. market62. rural poverty and agricultural transformation63. regional trading arrangements64. foreign exchange65. introduction to economics66. world economy miscellaneous67. sources of comparative advantage68. natural resources and the environment toward sustainable development69. monopoly70. asymmetric information71. income inequality72. labour market73. tariffs74. development planning and policy making the state and the market75. oligopoly76. industrial development77. costs supply and perfect competition78. human capital79. monetary fiscal and incomes policy and inflation80. stocks
8081. Throughout most of humankinds existence, population grew at a rate of ________ per year?
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A. 0.002%

B. 10%

C. 2%

D. 0.50%

8082. Malthuss theory was that population ?
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A. increased proportionally to economic growth

B. increased stagnantly with food supply and economic development

C. increased disproportionately surpassing agricultural production

D. increased geometrically, outstripping food supply which grew arithmetically
8083. The goal of integrated pest management (IPT) is to?
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A. encompass biological control through fertilizers

B. undertake monoculture pest planning

C. reduce yield losses by pests while minimizing the negative effects of pest control

D. have year-round plantings of a single crop

8084. Which of the following is not a possible cost of high fertility rates and rapid population growth ?
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A. a higher labor force growth rate and higher unemployment

B. increasing returns to natural resources with a direct impact on average food consumption

C. a working population that must support a large number of dependents

D. increased urbanization and congestion

8085. Prototypes of international agricultural research centers are the ?
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A. international Center for the Improvement of Maize and Wheat (CIMMYT)

B. International Rice Research Institute (IRRI)

C. #NAME?

D. Center for International Agricultural production Control (CIAPC)

8086. About _________ of the Worlds population lives in LDCs?
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A. 50%

B. 35%

C. 25%

D. 80%
8087. A stationary population is when population growth is ?
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A. increasing at an increasing rate

B. 100%

C. zero

D. decreasing

8088. A period of rapid population growth between a preindustrial stable population characterized by high birth and death rates and a later modern, stable population marked by low fertility and mortality is known as ?
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A. population maturity

B. demographic transition

C. birth-death transformation

D. demobilizing population

8089. Julian simon ?
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A. used the second law of thermodynamics to assume that technological progress is costless

B. assumed the classical view of technological change 6

C. supported the Club of Romes Limits to Growth for estimating technical change

D. assumed that population growth causes technological progress

8090. With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norways imports will now equal. Compared to What occurred in the absence of trade, Norways consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
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A. 1,600 computers, increase, decrease

B. 1,200 computers, increase, decrease

C. 1,600 computers, decrease, increase

D. 1,200 computers, decrease, increase

8091. Antidumping duties are used to ?
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A. reduce the tariff revenue of the domestic government

B. discourage foreign governments from subsidizing their exporters

C. punish domestic consumers for buying high-priced imported goods

D. offset the margin of dumping
8092. The welfare effects of a quota depend to a considerable extent upon ?
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A. All of the above

B. the size of the quota

C. who has the quota license

D. elasticities of domestic demand and supply

8093. Import quotas tend to result in all of the following except ?
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A. Prices increasing in the importing country

B. domestic consumers of the imported good being harmed

C. Prices falling in the exporting country

D. domestic producers of the imported good being harmed
8094. The form of dumping that represents the greatest potential net welfare loss the for importing national is ?
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A. sporadic dumping

B. yearend dumping

C. persistent dumping

D. predatory dumping
8095. A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?
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A. import quota

B. domestic subsidy

C. export subsidy

D. export quota

8096. A tariff-rate quota ?
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A. is a two-tier tariff system intended to restrict imports?

B. is a limit on the number of tariffs that a country can place on imports?

C. is designed to avoid the the price increases caused by simple tariffs

D. uses a single tariff along with import quotas to restrict import

8097. The reason for dumping is that the demand curve for ABC Cos computers is _______ because ________ are available from other nations?
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A. more elastic in Japan, fewer substitutes are available from other; nations

B. more elastic in Japan, more substitutes are available from other nations

C. more inelastic in Japan; more substitutes are available from other; nations

D. more inelastic in Japan; fewer substitutes are available from other nations

8098. To reduce imports, suppose that the government of Norways imposes a quota equal to 800 computers, Compared to what occurred under free trade, Norways consumers surplus will ________ and its producer surplus will _______ Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
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A. decrease, decrease

B. increase, decrease

C. decrease, increase

D. increase, increase

8099. Buy national policies ?
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A. attempt to restrict the number of tourists leaving a nation

B. result in government purchase policies favoring domestic over foreign producers

C. result in government purchase policies favoring foreign over domestic producers

D. are intended to publicize the advantage of the most efficient domestic companies

8100. The form of international price discriminations (dumping) normally associated with economic recession or excess inventories in the exporting nation is known as ?
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A. persistent dumping

B. year end dumping

C. sporadic dumping

D. Predatory dumping