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Economics Mcqs 4423 MCQs [All-Courses]

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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.

All Topics  4423

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
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
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
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
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
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
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
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
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
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
Correct Answer: The responsiveness of demand to price changes
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