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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

Top footballers tend to earn more than lecturers because ?
A footballers give more entertainment
B lecturers are lazy
C the labor markets are imperfect
D top footballers are relatively scarce in relation to lecturers
Correct Answer: top footballers are relatively scarce in relation to lecturers
Skilled labor is relatively scarce because ?
A there are too few teachers
B too few student places in higher education
C it is costly to acquire human capital
D teachers’ salaries are too low
Correct Answer: it is costly to acquire human capital
By restricting labor supply a trade union can _____ and _______?
A increase the wage, increase employment
B maintain the wage, increase employment
C increase the wage, lower employment
D maintain the wage, lower employment
Correct Answer: increase the wage, lower employment
Involuntary unemployment exists if workers ?
A will not work at the offered wage
B would work at the going wage but can’t find jobs
C will not work because the hours are anti-social
D Are not prepared to move house to get the job
Correct Answer: would work at the going wage but can’t find jobs
The difference between gross investment and net investment is ?
A depreciation of the existing capital stock
B productive investment
C dwellings
D inventories
Correct Answer: depreciation of the existing capital stock
The value of an asset depends upon ?
A its scrap values
B its depreciation
C the present value of the future stream of income it can earn
D the cost of loans
Correct Answer: the present value of the future stream of income it can earn
If workers get a real wage increase this will likely ____ and _____?
A encourage the use of more capital in the long run, reduce demand for all inputs
B encourage the use of more capital increase demand for all inputs
C encourage the use of less capital reduce demand for all inputs
D encourage the use of less capital, reduce demand for all inputs
Correct Answer: encourage the use of less capital reduce demand for all inputs
Different capital intensity in different industries is mainly explained by _______ and ________?
A wage differentials, skill levels
B technology, the ease of factor substitution
C government grants, international competition
D patents, skill shortages
Correct Answer: technology, the ease of factor substitution
The functional distribution of income shows how national income is divided between ?
A employees
B the population
C the factors of production
D the working population
Correct Answer: the factors of production
Land will be allocated between competing uses so that ?
A housing gets priority
B industry gets priority
C farming gets priority
D the equilibrium rental rate equilibrium total demand with supply
Correct Answer: the equilibrium rental rate equilibrium total demand with supply
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