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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

Economic growth from current year (c) to previous year (p) is given by ?
A [(GDPc – GDPp)/ DGPp]100
B [(GDPc – GDPp) DGPp]100
C GNPc – DGPp100)
D [GDPp – GDPc]100
Correct Answer: [(GDPc – GDPp)/ DGPp]100
If GDP for Barbados is $260 million in 2011 and its population is 260,000 GDP per capita is ?
A 1000
B 260
C 0.001
D 259740
Correct Answer: 1000
The formula to calculate Passche price index is (o is the base year and n is the given year) ?
A P = ΣPnqn/Σpoqn
B P = ΣPoqo/Σpnqn
C P = ΣPnqo/Σpoqo
D P = ΣPnqn/Σpoqo
Correct Answer: P = ΣPnqn/Σpoqn
Imitating labor standards from rich countries in LDCs may increase ?
A equality
B poverty
C employment
D human development
Correct Answer: poverty
Which of the following statement is not true about LDCs ?
A Most LDCs have less than 1/10 the per capita GNP of the U.S
B A greater share of GNP would have to be devoted to education to attain the same primary enrollment rates as in the U.S
C Setting up western labor standard and minimum wages in labor-abundant LDCs is sensible
D Most LDCs have a greater shortage of qualified teachers than the U.S does
Correct Answer: Setting up western labor standard and minimum wages in labor-abundant LDCs is sensible
Which of the following is not one of the Newly Industrialized Countries (NICs) ?
A Japan
B South Korea
C Taiwan
D Singapore
Correct Answer: Japan
The Human Development Index (HDI) summarizes a great deal of social performances in a single composite index combining ?
A disparity reduction rate, human resource development rate and the composite index
B longevity, education and living standard
C minimum schooling, adult literacy and tertiary educational attainment
D human resource training development and R&D
Correct Answer: longevity, education and living standard
The three measure of welfare indicators above comprise the ?
A Purchasing Power Parity
B Physical Quality of Life Index
C Human Development Index
D The Laspeyres index
Correct Answer: Physical Quality of Life Index
Infant mortality ?
A is defined as the annual number of deaths of infant under 1 year old per 1,000 live births
B reflects the availability of primary education the rights of employments and social security
C is life expectancy up to age 3
D reflects the availability of hospitals and childcare facilities and the parents wealth
Correct Answer: is defined as the annual number of deaths of infant under 1 year old per 1,000 live births
PPP is ?
A a theory that tells us that exchanged rates between currencies are in equilibrium when their purchasing power is the same in both countries
B GDP divided by exchange rate
C a measure of income inequality
D a measure of infant mortality in developing countries
Correct Answer: a theory that tells us that exchanged rates between currencies are in equilibrium when their purchasing power is the same in both countries
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