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
401. Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
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A. buy 8 million pounds of tin

B. sell 8 million pounds of tin

C. sell 4 million pounds of tin

D. buy 4 million pounds of tin

402. Which term is used for the total net value of all goods and services produced in a country in specified period of time ?
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A. Local income

B. National income

C. Gross income

D. Public income

403. According to the supply side of the vicious circle theory of development a country is poor because ?
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A. underemployment is too widespread

B. resource allocation is poor

C. technology levels do not allow for self sufficiency

D. it was previously too poor to save and invest
404. Balance of payments of a country includes ?
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A. Balance of trade

B. Capital receipts and payments

C. A and B of above

D. Savings and investment account

405. The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
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A. export orientation

B. commodity expansion

C. import substitution

D. flying geese
406. What is public sector ?
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A. Public corporations

B. All of them

C. Central and local government

D. Nationalized Industries

407. How is termed a written promise to pay back a specified sum of money at a stated time or on demand ?
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A. Promissory Note (PN)

B. Note of hand

C. Both of them

D. None of them

408. Velocity of circulation of money means ?
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A. The number of times a unit of money changes hands annually

B. The number of times as unit of money changes hands monthly

C. The number of times a unit of money changes hands daily

D. The number of times a unit of money changes value

409. To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
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A. multilateral contract program

B. export-led growth program

C. international commodity agreements program

D. generalized system of preferences program
410. What is referred by the term Portfolio ?
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A. Net assets of a company

B. Total unmovable assets of a company

C. A collection of investments, real or financial

D. Total profit of company in a year

411. Term the average income of the people of a country during a year ?
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A. Protection Income

B. Per capita Income

C. Domestic income

D. National income

412. When a commercial bank creates credit its immediate effect is that it raises__________________?
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A. The exchange rates

B. The real national income

C. The money supplies

D. The interest rates

413. Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ?
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A. Oligopsony

B. Grey market

C. Green market

D. Oligopoly

414. Bank loans are usually altered to have longer maturities in order to assist the borrower in making the necessary repayments. What these loans are called____________?
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A. None of these

B. Rearranged loans

C. Rescheduled loans

D. Altered loans

415. What is Free port ?
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A. Where no export duties are levied

B. Where no import duties are levied

C. Where everything can be import or export

D. Where no export or import duties are levied
416. Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
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A. the same as

B. Any of the above

C. relatively less than

D. relatively greater than

417. Which of the following is not an indirect tax ?
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A. Tariff

B. Income tax

C. Sales tax

D. Custom duty

418. The most industrialized country in Asia is ?
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A. Malaysia

B. Taiwan

C. South Korea

D. Japan
419. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
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A. purchase; decrease

B. sell; decrease

C. purchase; increase

D. sell; increase
420. Which form of business organization falls between a corporation and partnership ?
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A. Limited Company

B. joint company

C. Limited joint company

D. Joint stock company
421. Which branch of accounting provides information to help the management of a firm evaluate production costs and efficiency ?
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A. Ultra-country economic risk

B. Outcome risk

C. Efficient Account

D. Cost Accounting
422. If saving exceeds investment the national income will ?
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A. Fluctuate

B. Fall

C. Rise

D. Remain constant
423. A market in which prices are in an upward trend is known as ?
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A. Beamish market

B. Upward market

C. Bull market

D. Hot market

424. According to the United States ____ is the number one violator of intellectual property rights
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A. Japan

B. Canada

C. Australia

D. China
425. To stabilize the prices of primary products international commodity agreements have utilized all of the following except ?
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A. multilateral contracts

B. buffer stocks

C. tariff-rate quotas applied to imported goods

D. production and export controls

426. Rules and Particles that govern the management of an organization are called ?
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A. Internal laws

B. Memorandum of articles

C. By laws

D. Character

427. What is called that legal process through which a company receives a charter and state in which it is based allows it to operate as corporation ?
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A. Going legal

B. Incorporation

C. Book corporation

D. Chartered corporation

428. What is called amount of money to purchase the goods and services to maintain life ?
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A. Cost living

B. Cost of life

C. None of these

D. Basic requirement
429. When the State Bank wants to decrease money supply in the country, it _______________?
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A. Buys govt. securities in stock market

B. Lowers discount rate

C. Sells govt. securities

D. B and C of above

430. Estimated income and plane for expenditure is called Budget. What is Budget deficit ?
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A. More public spending than amount of revenue

B. None of them

C. Balance between public spending and amount of revenue

D. Less Public spending than amount of revenue corporation

431. Which of the following is a valid currency______________?
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A. Currency note

B. Bank cheque

C. Promissory note

D. Exchange rate

432. Term the central market for buying and selling all kind of securities ?
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A. A multinational company

B. A big company

C. Stock Exchange

D. Joint stock

433. What is called an additional levy added to some charge ?
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A. Extra charges

B. Additional Charged

C. Surcharge

D. Fine

434. Blue chip company is used in the context of general equities. What does it refer ?
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A. A conglomerate company

B. A consortium of companies

C. Large and creditworthy company

D. A multinational company

435. Import substitution is an example of ?
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A. an outward-looking growth strategy

B. the principle of absolute advantage

C. the principle of comparative advantage

D. an inward-looking growth strategy
436. Economic development ?
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A. Is the same as economic growth

B. Exists when there is equal distribution of income

C. Means improvement in lifestyle

D. All of the above

437. The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?
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A. similar cost schedules for member countries

B. highly inelastic world demand curve for oil

C. a lack of substitutes for oil

D. economic recession for oil importing nations
438. Which of the following is a withdraw from the circular flow income stream ?
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A. Taxation

B. Investment

C. Subsidies

D. Consumption

439. Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?
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A. All of the above

B. inelastic demand for these products in advanced countries

C. large increases in the supplies of these products on world markets because of export expansion policies

D. sluggish demand for these products in advanced countries

440. What is deflation________________?
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A. Reverse of inflation

B. Deficit Budget

C. Reduction in taxation

D. Increase in public expenditure

441. Which of the following groups suffer the most from inflation ?
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A. Debtors

B. Creditors

C. Business class

D. None of these

442. Devaluation of currency helps to promote ?
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A. Saving

B. Imports at lower cost

C. National income

D. Exports
443. Percentage of total industry sales that a particular company controls is called ?
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A. Market share

B. Holding share

C. Lions share

D. Net share

444. The economics system planned economy is ?
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A. In which economists control production

B. In which production and distribution of wealth is under governments control

C. In which technocrats control production

D. In which government controls distribution

445. Which of the following is rate of interest the major international banks charge each other for borrowings ?
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A. New York Interbank Offered Rates (NIBOR)

B. international Interbank Offered Rates (IOBOR)

C. USA Interbank Offered Rate (UIBOR)

D. London Interbank Offered Rate (LIBOR)
446. Consumption spending does not include ?
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A. Households purchases of food

B. Households payment of rent for an apartment

C. Households purchase of stock in any XYZ corporation

D. Households purchase of a car

447. Which industrialization policy have developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation ?
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A. import promotion

B. export promotion

C. multilateral contracts

D. international commodity agreements

448. Capital Flight from a country is called ?
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A. removal of capital drain

B. removal of income

C. All of these

D. removal of individual and corporate investment

449. Which of the following is regarded as a factor of production ?
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A. Profit

B. Capital

C. Interest

D. None of these

450. Government borrows in the form of promissory note to repay the bearer after some fixed days from the date of issue. How is called such borrowing ?
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A. Treasury bill

B. Securities

C. Term bound

D. Bond