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
301. Rate of growth of an economy is measured in terms of________________?
comments icon0

A. Industrial development

B. Number of people who have been lifted above the poverty line

C. Per capita income

D. National income
302. An adjustment is made in wages that corresponds with the change in the cost of living. What this adjustment is called ?
comments icon0

A. Cost effective adjustment

B. Free adjustment

C. Comparative adjustment

D. Cost of living adjustment
303. What is called the sequence of economic activity which is typically characterized by recession, fiscal recovery, growth and fiscal decline ?
comments icon0

A. Cycle Business

B. Economic Cycle

C. Business Cycle

D. Complete Cycle

304. Which property the paper money does not process ?
comments icon0

A. Portability

B. Durability

C. Acceptability

D. Divisibility

305. Cost of production plus a fixed rate of profit is called ?
comments icon0

A. End price

B. Cost effective

C. Consumer price

D. cost plus
306. Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
comments icon0

A. Easy trade

B. Open trade

C. Free trade

D. Open sky trade

307. Which market is called Bear market ?
comments icon0
A. Market with a prolonged period of falling stock prices

B. A very big industrial market

C. Market with upward and stock prices.

D. A very big market

308. Name the method of inventory accounting in which the oldest remaining items are assumed to have been first sold ?
comments icon0

A. First come First serve

B. None of these

C. FIFO (first in first out)

D. LAFO (last in first out)

309. National income of a country is based on ?
comments icon0

A. The taxes earned by the State

B. Personal incomes of all the citizens

C. Surplus of exports over imports

D. The sum of all factors of income
310. From the sale of capital assets tax is levied on profits. What this tax is called ?
comments icon0
A. Capital gains tax

B. Capital tax

C. Excise duty

D. Profit tax

311. Beyond any mortgage thereon and liability therein, the residual value of a business or property is called equity. Which of the following are also included by term equity ?
comments icon0

A. The market value of securities less any debt incurred and common stock and preferred stock

B. Funds provided to a business by the sale of stock

C. Both of them

D. None of them

312. What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?
comments icon0
A. Protectionism

B. Domestication

C. Localization

D. National interest

313. Term the covering of a short position by purchasing a long contract, usually resulting from the short of a commodity ?
comments icon0
A. Buyback

B. Drawback

C. Short-positioning

D. None of them

314. Name a market that is characterized by a small number of producers who often act together to control the supply of a particular good and its market price ?
comments icon0

A. Oligopsony

B. Oligopoly

C. Monopoly

D. Grey market

315. Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?
comments icon0

A. End benefit

B. Free market

C. Trickle down

D. Capitalism

316. What is called when government spending overwhelms government revenue resulting in government borrowing ?
comments icon0

A. Budget deficit

B. Unbalanced spending

C. Deficient financing

D. Deficit spending
317. How is termed the ability to buy ?
comments icon0

A. Gross purchasing power

B. Purchasing power parities (PPP)

C. Income level

D. Purchasing power

318. There is an arrangement which allows a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research. What this arrangement is called?
comments icon0

A. common interest

B. Bilateral arrangement

C. Quid Pro quo

D. Mutual arrangement

319. Mention the term which is used for the large-scale removal of individual and corporate investment capital and income from a country ?
comments icon0

A. Money flight

B. Capital flight

C. Free flow

D. Capital drain

320. Asset that is easily and cheaply turned into cash-notably, cash itself and short-term securities are known as______________?
comments icon0

A. Hard asset

B. Liquid asset

C. Solid asset

D. None of these

321. Name a corporation that owns enough voting stock in another firm to control management and operations by influencing of electing its board of directors ?
comments icon0
A. Holding company

B. Father company

C. joint company

D. Mother company

322. Bearer cheque is ?
comments icon0

A. Payable to anyone

B. payable through account only

C. payable to person holding it

D. payable after specific period

323. What is referred a group of companies that cooperate and share resources in order to achieve a common objective ?
comments icon0

A. Incorporation

B. Conglomerate

C. Pool

D. Consortium
324. Depression is a drastic decline in a national or international economy. Its characteristic is_____________?
comments icon0

A. Unemployment

B. Falling prices

C. All of these

D. Decreasing business activity

325. What is Demand note ?
comments icon0
A. Draft payable in lawful money upon demand

B. Cheque payable in lawful money upon demand

C. Security payable in lawful money upon demand

D. Term deposit payable in lawful money upon demand

326. Name a default on debt and obligations by a major financial institution that disrupts the stability of the economic system ?
comments icon0

A. None of them

B. Debt bomb

C. Debt blast

D. Bad debt

327. By Which scale the value of all economic activity produced by a nation during a given period is measured ?
comments icon0

A. Gross National output

B. Gross National output (GNO)

C. Gross Domestic Product (GOP)

D. Gross National Product (GNP)
328. Which of the following is the Pakistans central bank ?
comments icon0
A. State Bank

B. National Bank

C. Both of them

D. None of them

329. Crop grown for sale is called?
comments icon0

A. Business Crop

B. Earning Crop

C. Money Crop

D. Cash crop
330. Name the methodology by which members of the EMS maintain their currency exchange rates within an agreed upon range with respect to other member countries ?
comments icon0

A. None of the above

B. Exchange Rate Mechanism (ERM)

C. Exchange Rate Equilibrium

D. Exchange Rate Balance

331. Economic system in which the government owns and controls the means of production to benefit all the people is called ?
comments icon0
A. Authoritarianism

B. Capitalism

C. Socialism

D. Dictatorship

332. A payment is made in return for some transference of privilege. What this payment is called ?
comments icon0

A. Intellectual royalty

B. Share

C. Rent

D. Royalty
333. Which is the best measure of economic growth of a country ?
comments icon0

A. None of the above

B. Net revenue

C. GDP

D. GNP
334. Interest payments and any principal repayments which are due on a countrys external debt are known as ?
comments icon0
A. Debt service

B. Debt Charges

C. Service Charges

D. Debt Payment

335. What is Debt Service ?
comments icon0

A. Interest payments on external debts

B. repayments of external debt

C. none of these

D. Both of them
336. Market value of all final goods and services produced in a country during a year is definition of ?
comments icon0

A. NI

B. GNP

C. NNP

D. Consumption

337. Name a gold, silver, or platinum coin than usually traded at slightly more than its current bullion value ?
comments icon0

A. Hard Leaf

B. Maple Leaf

C. Green Leaf

D. Gold Leaf

338. When stock market is falling it is_______________?
comments icon0

A. Bullish

B. Bearish

C. Crash

D. Fall down

339. what is called an evaluation of credit quality of a companys debt issued by Moodys S&P and Fitch investors services ?
comments icon0

A. Credit worthiness

B. Credit Worth

C. Credit line

D. Ratings
340. Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?
comments icon0

A. higher than

B. lower than

C. equal to

D. there is no general pattern

341. Term the minimum income level below which a person is considered to be living in poverty ?
comments icon0

A. Poverty level

B. Poverty line

C. Both of them

D. None of them

342. Referring to the above, the embargo was mainly resisted by ?
comments icon0

A. Grain Producers in foreign countries

B. Grain consumers in foreign countries

C. U.S farmers and grains companies

D. U.S grains consumers and producers of bread

343. _________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?
comments icon0

A. export-led growth

B. comparative advantage

C. absolute advantage

D. import substitution
344. What is called the excess of purchase price over fair market value of net assets that are acquired under the purchase method of accounting ?
comments icon0

A. Bonus

B. Goodwill

C. Upgradation

D. Up level

345. Who is called Father of Economics ?
comments icon0
A. Adam smith

B. David Ricardo

C. David smith

D. Adam Ricardo

346. An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the worlds producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?
comments icon0
A. relatively large; easier

B. relatively small; more difficult

C. relatively large; more difficult

D. relatively small; easier

347. One criticism of Rostows theory of economic growth is that ?
comments icon0

A. much available data contradicts his thesis about the takeoff stage

B. his hypothesis of the stages of growth is difficult to test empirically

C. All of the above are correct

D. there is no explanation of why growth occurs after takeoff

348. What would reduce the role of central planning in a economy ?
comments icon0

A. Increasing government spending

B. Removing the profit motive

C. Increasing the role of markets

D. Increasing public ownership of firms

349. The institutional framework developed in 1947 to promote trade liberalization is known sa?
comments icon0

A. the IMF

B. the World Bank

C. the GATT

D. the WTO

350. The World Trade Organization is sometimes criticized for all of the following reasons except?
comments icon0

A. it is a puppet of multinational corporations

B. it reduces the sovereignty of member countries

C. favors free trade over the quality of the environment

D. it has no way to solve trade disputes among member countries