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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

Which of the following expenditures to enhance productivity is most likely to emit a positive externality ?
A Megabank buys a new computer
B Naila pays her university tuition fees.
C OGDC leases a new oil field
D Indus Motors buys a new drill press
Correct Answer: Naila pays her university tuition fees.
If Toyota builds a new plant in the north of England ?
A None of these answers
B There has been an increase in foreign portfolio investment in the UK
C Once the plant starts producing cars UK GDP will rise less than UK GNP
D once the plant starts producing cars UK GDP will rise more than UK GNP
Correct Answer: once the plant starts producing cars UK GDP will rise more than UK GNP
Which of the following is an example of foreign portfolio investment ?
A Toyota builds a new plant in the north of England
B EDF of France buys shares in Scottish & Southern Energy of the UK, and Scottish & Southern Energy uses the Proceeds to build a new hydro-electric power station in Scotland
C Deutsche Bank of Germany buys some new software from UK Supplier
D JCB builds a new plant near Manchester
Correct Answer: EDF of France buys shares in Scottish & Southern Energy of the UK, and Scottish & Southern Energy uses the Proceeds to build a new hydro-electric power station in Scotland
Which of the following describes an increase in technological knowledge ?
A A farmer sends his child to agricultural college and the child returns to work on the farm
B A farmer hires another day laborer
C A farmer buys another tractor
D A farmer discovers that it is better to plant in the spring rather than in the fall
Correct Answer: A farmer discovers that it is better to plant in the spring rather than in the fall
Thomas Malthus argued that ?
A none of these answers
B an ever-increasing population is constrained only by the food supply resulting in chronic faminies
C technological progress will continuously generate improvement in productivity and living standards.
D labor is the only true factor of production
Correct Answer: an ever-increasing population is constrained only by the food supply resulting in chronic faminies
Copper is an example of ?
A a renewable natural resource
B physical capital
C technology
D a non-renewable natural resource
Correct Answer: a non-renewable natural resource
Which of the following statements is true ?
A Countries all have the same growth rate and level of output because any country can obtain the same factors of production
B Countries have great variance in both the level and growth rate of GDP/person thus poor countries can become relatively rich over time
C Countries may have different level of GDP/person but they all grow at the same reate
D Countries may have a different growth rate but they all have the same level of GDP/person
Correct Answer: Countries have great variance in both the level and growth rate of GDP/person thus poor countries can become relatively rich over time
The opportunity cost of growth is ?
A a reduction in current investment
B a reduction in current consumption
C a reduction in taxes
D a reduction in current saving
Correct Answer: a reduction in current consumption
When a national has very little GDP per person ?
A it is doomed to being relatively poor forever
B none of these answers
C an increase in capital will likely have little impact on output
D it has the potential to grow relatively quickly due to the “catch-up-effect”
Correct Answer: it has the potential to grow relatively quickly due to the “catch-up-effect”
A reasonable measure of the standard of living in a country is ?
A real GDP per person
B nominal GDP per person.
C Real GDP
D The growth rate of nominal GDP per person
Correct Answer: real GDP per person
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