economics MCQs – Page 410

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 Review each marked answer and report any item that may be outdated or unclear.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

8181. The Relative price (MRT)of S in terms of T i ?
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A. 1/2

B. 2

C. 1000

D. 0

8182. According to the Classical theory of international trade ?
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A. Only countries with high wages will import

B. Only countries with low wages will export

C. All of the above are false

D. Countries with high wages will have higher prices

8183. Which of the following countries are not newly industrialized countries (NICs) ?
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A. North Korea

B. Hong kong

C. Taiwan

D. Singapore

8184. Which of the following are not third-world regions ?
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A. Asia

B. Australia

C. Africa

D. Latin America

8185. Which of the following characteristics are most likely found in developing countries ?
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A. All of the above

B. very traditional methods of agricultural production

C. large number of people living in poverty

D. high population growth rates

8186. In which of the following countries would you expect material lifestyles to be most like those in the United States ?
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A. Mali

B. Nigeria

C. India

D. Japan

8187. Which of the following could not be considered a major economic system ?
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A. None of the above

B. communism

C. socialism

D. physical quality of life index

E. capitalism

8188. Which country is not a transitional economy ?
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A. Mexico

B. Hungary

C. Russia

D. china

8189. The poorest region of the World is ?
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A. Sub Saharan Africa

B. Latin America

C. the Middle East

D. Asia

8190. Development economics focuses primarily on the poorest ______ of the worlds?
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A. population

B. two thirds

C. one third

D. 5 percent

E. 28 percent

8191. Of the Worlds population what portion lives in developing countries ?
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A. nearly 1 billion people

B. approximately 35%

C. approximately 80%

D. nearly 10 billion people

8192. Which of the following could be considered critical s in development economics ?
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A. All of the above are correct

B. How do the poorest 2/3 of the world live?

C. what factors affect labor skills in the third world?

D. What are the major theories of economic development

8193. If the price of a good is above the equilibrium price ?
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A. there is a surplus and the price will fall

B. there is a surplus and the price will rise

C. there is a shortage and the price will rise

D. The quantity demanded is equal to the quantity supplied and the price remains unchanged

E. there is a shortage and the price will fall

8194. If the price of good is equal to the equilibrium price ?
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A. there is a surplus and the price will fall

B. there is a shortage and the price will rise

C. there is surplus and the price will rise

D. the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged

E. there is a shortage and the price will fall

8195. A shift is demand will have more effect on price than quantity if ?
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A. The price elasticity of supply is price elastic

B. The price elasticity of supply is infinity

C. The price elasticity of supply is perfectly elastic

D. The price elasticity of supply is price inelastic

8196. The effect of a tax to offset a negative externality will be to ____ price and ______ quantity?
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A. reduce, increase

B. increase, reduce

C. increase, increase

D. reduce , reduce

8197. Externalities arise because there is a divergence between ________ and _________?
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A. social costs, social benefit

B. private costs, private benefits

C. insiders, outsiders

D. private costs, social costs or benefits

8198. A decrease in demand for a products should ?
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A. Decrease equilibrium price and quantity

B. Decrease equilibrium price and increase quantity

C. Increase equilibrium price and decrease quantity

D. increase equilibrium price and quantity

8199. A perfectly competitive market has ?
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A. many buyers and sellers.

B. only one seller.

C. firms that set their own prices

D. at least a few sellers.

8200. Economists use the term Black Markets for situations where ?
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A. goods are sold at prices above legal or official price.

B. transactions are not recorded in the GDP figures.

C. illegal substances are sold

D. buyers and/or sellers are not paying taxes as they should

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