economics MCQs – Page 450

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 Review each marked answer and report any item that may be outdated or unclear.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

8981. Industry is the second largest sector of the economy. How much of GDP it accounts for ?
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A. 19.70%

B. 16.50%

C. 20.50%

D. 18.2%

8982. In the year 2010-11 what was per capita income ?
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A. $945

B. $975

C. $ 1095

D. $905

8983. Heavy Mechanical Complex Taxila was set up with the aid of ?
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A. UK

B. Japan

C. USA

D. China

8984. Which city is famous for the textile mills that produce finest worsted suiting in the world ?
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A. Haripur

B. Faisalabad

C. Karachi

D. Lawrencepur

8985. The Chiniot city is known for its ornate brickwork and ?
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A. laquer work

B. fire work

C. wooden work

D. None of them

8986. Mianwali is important for ?
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A. irrigation work

B. Embroidery work

C. wood work

D. agriculture

8987. When did Pakistan launched its first space satellite Badr I largely designed and fabricated by SUPARCO ?
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A. July 16, 1990

B. 10-Aug-91

C. 16-Oct-89

D. 12-Sep-92

8988. The first nuclear power plant was set up in Karachi in ?
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A. 1973

B. 1971

C. 1972

D. 1970

8989. The biggest Industrial unit in public sector is ?
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A. Telephone Industry of Pakistan

B. Pakistan Steel Mili

C. Karachi Shipyard

D. State Cement

8990. The Faisalabad is also known as ?
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A. Little California

B. Little Oxford

C. Little England

D. Little Manchester

8991. In perfect competition ?
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A. Products are heavily differentiated

B. The products firm offer is very similar

C. Consumer have limited information

D. A few firms dominate the market

8992. Which of the following market would most closely satisfy the requirements for a competitive market ?
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A. All of these answers represent competitive markets

B. milk

C. electricity

D. cola

E. cable television

8993. For perfect competition to work there must be ?
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A. many buyers and sellers

B. perfect information

C. a standard product

D. free entry and exit

E. all of the above

8994. In the long run in perfect competition ?
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A. The price equals total cost

B. Firms are productively efficient

C. Firms are allocatively inefficient

D. The price equals the total revenue

8995. Which of the following is not a characteristic of a competitive market ?
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A. The goods offered for sale are largely the same.

B. All of these answers are characteristic of a competitive market

C. The are many buyers and sellers in the market

D. Firms can freely enter or exit the market

E. Firms generate small but positive economic profits in the long run

8996. The firms long run output decision will be where ?
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A. marginal cost equals output

B. marginal revenue equals long run marginal cost

C. marginal revenue equals output

D. long run average cost is lowest

8997. Decrease returns to scale means that _____ as ______?
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A. Short run marginal cost rises, output rises

B. long run marginal cost rises, output rises

C. long run average cost rises, output rises

D. Short run average cost rises, output rises

8998. In monopolistic competition ?
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A. There are barriers to entry to prevent entry

B. Firms make normal profits in the long run

C. All products are homogeneous

D. Firms face a perfectly elastic demand curve

8999. Firms in perfect competition face a?
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A. perfectly inelastic supply curve

B. perfectly elastic supply curve

C. perfectly elastic demand curve

D. perfectly inelastic demand curve

9000. For a perfectly competitive firm ?
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A. price equals total cost

B. price equals total revenue

C. price is greater than marginal revenue

D. Price equals marginal revenue

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