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
4551. Oligopoly means:___________?
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A. None of the above

B. Monopoly shared by few large sellers

C. Just one supplier of an item

D. Business by rich people

4552. In his book The Inevitability of Patriarchy Steven Goldberg asserts that_____________?
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A. men perform the highest status non-maternal roles in all societies

B. matriarchal societies have never existed

C. men dominate male-female relationships

D. all of the above
4553. In rural Pakistan a person must marry within his or her caste This custom is called______________?
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A. polygamy

B. exogamy

C. purdah

D. endogamy
4554. Structured inequality of gender roles_____________?
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A. began with hunting and gathering societies

B. has been with humans from the dawn of culture

C. has its origins in agricultural communities?

D. is peculiar to industrial societies

4555. Studies have found that__________________?
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A. the more severe the abuse the more extreme the later psychiatric symptoms

B. victims of child abuse become troubled adults

C. not all abused children go on to abuse their own children

D. all of the above
4556. Redemptive movements include________________?
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A. the civil rights movement

B. the antinuclear movement

C. the womens liberation movement

D. fundamentalist Christianity
4557. Power is legitimate if_________________?
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A. a majority of societal members accept its use as right and proper

B. it is enforced on members of society

C. it is rational

D. it has been transmitted in a traditional way

4558. Legal-rational authority is characteristic of________________?
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A. totalitarian societies

B. urban industrial developed societies

C. homogeneous societies

D. traditional agrarian societies

4559. In the case of the male twin castrated during circumcision________________?
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A. his case proves that nurture is stronger than nature

B. he was content living as a female

C. in spite of attempted socialization as a female he was unhappy in his gender

D. he behaved as a little girl once he was given female hormones

4560. Durkheim,s analysis suggests that so-called primitive people__________________?
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A. invented the concept of gods

B. though they were gods

C. saw themselves as clans of animals

D. projected their human ideals and personified them as gods
4561. In developing nations cities are growing along with rural areas because_______________?
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A. cultural values encourage large families

B. all of the above

C. of lower death rates

D. of high birth rates

4562. Religious beliefs are often contained in_______________?
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A. creeds

B. doctrines

C. articles of faith

D. all of the above
4563. Retirements negative effects are felt most strongly by_____________?
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A. middle-class men and lower-class women

B. none of the above

C. upper-class men and service workers

D. women in general and lower-class workers

4564. Publics and public opinion________________?
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A. are more frequent in totalitarian societies than in democratic ones

B. are more characteristic of complex societies than of simple ones

C. express the values of leaders of society

D. have special meanings in traditional societies where conflicting issues are common

4565. The experience of loss or impending loss of a person to whom one is close is called______________?
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A. bequeath Ent

B. displacement

C. disengagement

D. bereavement
4566. As of 2005 what proportion of women were in managerial professional and administrative positions ?
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A. 4%

B. 50%

C. 12%

D. 20%

4567. Latent functions of government include_______________?
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A. the rise of administrative elites

B. health care

C. war

D. public education

4568. The Micropolitan Statistical Area consists of_______________?
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A. one city of at least 50,000 population

B. a region of the country

C. one urban cluster of at lest 10,000 but less than 50.000 population

D. one city of at least 1 million population

4569. Which of the following nations can be trusted NOT to explode atomic bombs on the surface of the earth ?
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A. none of these

B. France

C. Russia

D. China

4570. A linear consumption function with a positive slope less than one means that if income increases consumption will ?
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A. not change

B. increase

C. fall

D. fluctuate

4571. The key issues of macroeconomics are ?
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A. All of the above

B. inflation

C. unemployment

D. economic growth

4572. It has become conventional classify a recession as a period where national output falls for _________ or more?
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A. a year

B. two years

C. three years

D. six months
4573. Real GDP is nominal GDP measured in constant ?
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A. interest rates

B. prices

C. exchange rates

D. taxes

4574. If the government increases spending and raises taxes by just enough to finance this increase it will ?
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A. increase the MPC

B. reduce output

C. increase output

D. leave output unchanged

4575. Nominal GNP measures income ?
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A. corrected for changes in interest rates

B. At current prices

C. At the present time

D. corrected for tax changes

4576. Leakages from the circular flow are _________ and __________?
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A. investment, savings, government expenditure

B. consumption investment government expenditure

C. consumption taxes imports

D. savings, taxes net of subsidies imports
4577. Macroeconomics is the branch of economics that deals with ?
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A. imperfectly competitive markets:

B. Only the long run adjustments to equilibrium in the economy

C. The functioning of individual industries and the behavior of individual decision-making units business firms and households

D. the economy as a whole
4578. In a macroeconomic model without foreign trade or a government aggregate demand is the sum of ?
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A. personal saving and personal consumption

B. personal consumption and private investment

C. None of the above

D. personal saving and private investment

4579. Total withdrawals from the circular flow of income include ?
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A. savings government expenditure and imports

B. consumption savings and taxes

C. savings taxes and imports

D. savings taxes and exports

4580. Aggregate demand without a foreign sector is the sum of ?
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A. C + 1

B. I + G

C. C + 1 + G

D. C + G

4581. The length of a business cycle would be measured from ?
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A. peak to trough

B. the slump to the expansion

C. peak to peak

D. trough to peak

4582. The multiplier is calculated as___________?
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A. 1/MPC

B. 1(1-MPC)

C. a or b

D. 1/MPS

4583. When investment is assumed to autonomous the slope of the AD schedule is determined by the ?
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A. marginal propensity to consume

B. disposable incomes

C. average propensity to consume

D. marginal propensity to invest

4584. The diagram that shows the income received and payments made by each sector of the economy is the ?
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A. income-expenditures diagram

B. income-price diagram

C. circular flow diagram

D. aggregate demand-aggregate supply diagram

4585. Macroeconomic theory that emphasized the theories of Keynes and de-emphasized the classical theory developed as the result of the failure of ?
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A. economic theory to explain the simultaneous increases in inflation and unemployment during the 1970s

B. The classical model to explain the prolonged existence of high unemployment during the Great Depression

C. fine tuning during the 1960s

D. the economy to grow at a rapid rate during the 1950s

4586. Short-run equilibrium output means that aggregate demand __________ actual output?
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A. is less than

B. fluctuates around

C. is greater than

D. equals
4587. In an Open economy leakage to imports ____________ the value of the multiplier ?
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A. None of the above

B. increase

C. reduce

D. do not change

4588. Aggregate supply is the total amount ?
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A. of goods and services produced in an economy

B. produced by the government

C. of labor supplied by all households

D. of products produced by a given industry

4589. For given government spending and taxation the government budget deficit will grow in _________ and decline in __________?
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A. recessions, booms

B. booms, booms

C. booms, recessions

D. recession, recession

4590. In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?
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A. 3<2<1

B. any measure can be larger or smaller than any other

C. 3>2>1

D. 3=2=1
4591. The underground economy consists of ?
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A. the water distribution system

B. part of the rail network

C. legal transactions

D. legal transactions not declared for tax and illegal activities
4592. Starting from a balanced budget, for a given tax rate, an increasing in income will cause the government budget to ?
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A. remain unchanged

B. move into deficit

C. move into surplus

D. None of the above above

4593. When we refer to the hidden economy we mean unrecorded income owing to ?
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A. the lags between statistical collection and publication

B. poor statistics

C. tax evasion

D. smuggling

4594. Real GNP is a crude measure of national welfare because it excludes ?
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A. consumption

B. exports

C. work in the home

D. investment

4595. The index used most often to measure inflation is the?
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A. consumer price index

B. wholesale price index (WPI)

C. GDP deflator

D. Producer price index (PPI)

4596. Equilibrium in the circular flow of income occurs when ?
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A. There is a Bank Holiday

B. None of these

C. Injections withdrawals

D. Injections = withdrawals
4597. If desired spending in the economy exceeds income we would expect ?
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A. households to save more

B. the MPC to change

C. firms to produce more

D. firms to produce less

4598. Total injection are made up of?
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A. savings + government expenditure + exports

B. investment + tax + exports

C. investment + government expenditure + imports

D. investment + government expenditure + exports
4599. Purchasing power parity exchange rates are used to ?
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A. convert nominal GDP to real GDP

B. pay wages b multinational companies

C. compare living standards of different countries

D. estimate the costs of economic growth

4600. In the circular flow we would expect leakages to ___________ injections?
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A. be greater than

B. be less or greater than

C. equal

D. be less than