Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

A budgetary deficit means ?

A Total expenditure is more than total revenue

B Current expenditure is more than current revenue

C Capital expenditure is more than capital revenue

D Total expenditure is more than current revenue

Review Detailed Answer

Correct Answer: Total expenditure is more than total revenue

Which is most likely to cause a more even distribution of income ?

A An increase in indirect taxes

B An increase in managers salaries

C An increase in progressive taxation

D An increase in the rate of inflation

Review Detailed Answer

Correct Answer: An increase in progressive taxation

Economic development ?

A Is the same as economic growth

B Means improvement in lifestyle

C Exists when there is equal distribution of income

D All of the above

Review Detailed Answer

Correct Answer: Means improvement in lifestyle

Which of the following is a withdraw from the circular flow income stream ?

A Investment

B Subsidies

C Taxation

D Consumption

Review Detailed Answer

Correct Answer: Taxation

Consumption spending does not include ?

A Household’s purchases of food

B Households’ purchase of a car

C Household’s payment of rent for an apartment

D Household’s purchase of stock in any XYZ corporation

Review Detailed Answer

Correct Answer: Household’s purchase of stock in any XYZ corporation

Net investment is___________________?

A Gross investment minus household investment

B Gross investment minus govt. Investment

C Gross investment minus capital consumption allowance

D None of the above

Review Detailed Answer

Correct Answer: Gross investment minus capital consumption allowance

GNP is_______________?

A Total sales in the economy

B Total monetary transactions in an economy

C The market value of all goods and services produced in an economy

D Total spending in an economy

Review Detailed Answer

Correct Answer: The market value of all goods and services produced in an economy

We measure national income by this method ?

A Expenditure method

B Income method

C Product method

D All of the above

Review Detailed Answer

Correct Answer: All of the above

What is the meaning of the term stagflation ?

A Fall in prices due to less circulation of currency

B Fall in employment due to declining production

C High inflation rate combined with high unemployment and unchanged consume demand

D None of these

Review Detailed Answer

Correct Answer: High inflation rate combined with high unemployment and unchanged consume demand

What does price elasticity of demand measure ?

A Changes in price caused by changes in demand

B The rate of change of sales

C The responsiveness of demand to price changes

D The value of sales at a given price

Review Detailed Answer

Correct Answer: The responsiveness of demand to price changes

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

A budgetary deficit means ?

Which is most likely to cause a more even distribution of income ?

Economic development ?

Which of the following is a withdraw from the circular flow income stream ?

Consumption spending does not include ?

Net investment is___________________?

GNP is_______________?

We measure national income by this method ?

What is the meaning of the term stagflation ?

What does price elasticity of demand measure ?