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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

The following statements are true about informal sector except ?
A Uses no mechanical power
B May be enterprises with less than 10 workers
C Production is capital intensive
D Uses family workers
Correct Answer: Production is capital intensive
According to Lewis’s model the dual economy grows only when ?
A the modern sector increases its output share relative to the traditional sector
B agricultural sector uses modern equipment
C agricultural sector hires labor economically
D modern manufacturing sector is labor intensive
Correct Answer: the modern sector increases its output share relative to the traditional sector
Which of the following statement is true about low-income countries ?
A less than 10% of the labor force is in agriculture
B the average agriculture family produces surplus large enough only to supply small non-agriculture population
C One-third of the labor force produce food
D share of labor force is about 30%
Correct Answer: the average agriculture family produces surplus large enough only to supply small non-agriculture population
Two or more nuclear families of parent(s) and children is known as ?
A dual family
B institutional family
C extended family
D two-tier family tree
Correct Answer: extended family
Increases in real GNP per capita occur when ?
A government programs direct resources away from investment goods to consumer goods.
B tariffs and quotas prevent dollars from leaving the country
C the rate of growth of real GNP is greater than the rate of growth of population
D the level of consumption expenditures rises relative to the level of saving
Correct Answer: the rate of growth of real GNP is greater than the rate of growth of population
The low-income economies generally have the following except ?
A deficient infrastructures
B low life expectancies
C low savings
D a per capital GNP of more than $900
Correct Answer: a per capital GNP of more than $900
Industrialization?
A causes development
B is positively related to development
C id inversely related to development
D inhibits development
Correct Answer: is positively related to development
What is gross domestic product (GDP) ?
A income earned through foreign exchange
B the number of dollars earned in industry
C income earned within a country’s boundaries
D goods received from the nation’s residents
Correct Answer: income earned within a country’s boundaries
Increasing in the real GNP per capita occur when ?
A government programs direct resources away from investment goods to consumer goods.
B tariffs and quotas prevent countries from trading and thus prevent dollars from leaving each country
C the rate of growth in real GNP is greater than the rate of growth in the population
D the level of consumption expenditures rises relative to the level of savings
Correct Answer: the rate of growth in real GNP is greater than the rate of growth in the population
A country’s export commodity concentration ratio is the ?
A average annual investment made in production of exported commodities
B proportion of the primary export commodity in total exports
C ratio of four leading commodities to total merchandise exports
D total annual investment made in production of exported commodities
Correct Answer: ratio of four leading commodities to total merchandise exports
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