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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

G. MecDougall showed in his tests that ?
A relatively higher U.S labor productivity was associated with relatively higher U.K export ratios
B relatively high U.K labor productivity was associated with relatively higher U.K export ratios
C Labor productivity ratios and export ratios were not associated with each other
D None of the above
Correct Answer: relatively high U.K labor productivity was associated with relatively higher U.K export ratios
Dynamic gains from trade could result from ?
A The stimulus of additional investment spending as market open
B Economies of large scale production as markets open
C Additional competition made possible by the opening of markets
D All of the above
Correct Answer: All of the above
Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?
A Trades at Canada’s marginal rate of transformation
B Trade at Sweden’s marginal rate of transformation
C Specializes completely in the production of its export good
D Specializes partially in the production of its exports goods
Correct Answer: Trades at Canada’s marginal rate of transformation
In autarky, when a community maximizes its standard of living its production point is ?
A below the production possibility frontier
B on the production possibility frontier
C above the production possibility frontier
D can’t tell without more information
Correct Answer: on the production possibility frontier
In aukarky, when a community maximizes its standard of living, its production and consumption point is ?
A below the production possibility frontier
B On the production possibility frontier
C above the production possibility frontier
D can’t tell without more information
Correct Answer: On the production possibility frontier
Which countries terms of trade improved between 1990 and 2000 ?
A Mexico and Denmark
B Sweden and Denmark
C Sweden and Spain
D Mexico and Sweden
Correct Answer: Mexico and Sweden
If a country has a liner (downward sloping) production possibilities frontier, then production is said to be subjected to ?
A constant opportunity costs
B decreasing opportunity costs
C first increasing and then decreasing opportunity costs
D increasing opportunity costs
Correct Answer: constant opportunity costs
If the relative Price (MRT) of T were to increase, then the price line would ?
A Shift out in a parallel fashion
B shift in a parallel fashion
C become steeper
D Become flatter
Correct Answer: Become flatter
The relative price (MRT) of T in terms of S is ?
A 2
B 1/2
C 500
D 1000
Correct Answer: 2
Country B has the comparative advantage in ?
A Wine
B Beer
C Both wine and beer
D Neither wine nor beer
Correct Answer: Both wine and beer
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