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Economics Mcqs 4423 MCQs [All-Courses]

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.

To adjust GDP from market prices to factor cost ?

A Add indirect taxes

B Subtract subsidies

C Deduct indirect taxes and subsidies

D Deduct indirect taxes and add subsidies

Review Detailed Answer

Correct Answer: Subtract subsidies

GDP plus net property income from abroad equals what ?

A GNP

B NNP

C Depreciation

D Real GDP

Review Detailed Answer

Correct Answer: GNP

In a recession ?

A Unemployment is likely to be low

B Prices are likely to increase

C Growth is negative

D Growth is slow

Review Detailed Answer

Correct Answer: Growth is slow

Gross National Product equals ?

A Net National Product adjusted for inflation

B Gross Domestic Product adjusted for inflation

C Gross Domestic Product plus net property income from abroad

D Net National Product plus net property income from abroad

Review Detailed Answer

Correct Answer: Gross Domestic Product adjusted for inflation

The Club of Rome Study, The Limits to Growth suggests that as natural resources diminish ?

A capital increasingly replaces labor

B technological change compensates for capital depletion

C costs rise, leaving less capital for future investment

D contingent valuation becomes critical

Review Detailed Answer

Correct Answer: costs rise, leaving less capital for future investment

The green house effect is the phenomenon by which ?

A biological diversity is dominant in agricultural production

B the globe’s water pollution affects plankton

C the earth’s atmosphere traps infrared radiation

D climatic changes occur naturally in the forest

Review Detailed Answer

Correct Answer: the earth’s atmosphere traps infrared radiation

Many environmental resources are public goods, which are characterized by ?

A rivalry and exclusion in consumption

B nonrivalry and nonexclusion in consumption

C rivalry but nonexclusion in production

D nonrivalry but exclusion in usage

Review Detailed Answer

Correct Answer: nonrivalry and nonexclusion in consumption

According to Coase’s theorem when property rights are well defined and legally enforceable and transactions costs are not prohibitive ?

A population growth leads to rigid land rights

B participants will organize their transactions

C violence displacement erosion and poverty are minimized

D individuals overuse of the biosphere is curtailed

Review Detailed Answer

Correct Answer: participants will organize their transactions

Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

A I and III only

B II and III only

C I, II and III only

D I, II , III only IV

Review Detailed Answer

Correct Answer: I, II , III only IV

Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?

A Russia

B Saudi Arabia

C Iraq

D Venezuela

Review Detailed Answer

Correct Answer: Saudi Arabia

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

To adjust GDP from market prices to factor cost ?

GDP plus net property income from abroad equals what ?

In a recession ?

Gross National Product equals ?

The Club of Rome Study, The Limits to Growth suggests that as natural resources diminish ?

The green house effect is the phenomenon by which ?

Many environmental resources are public goods, which are characterized by ?

According to Coase’s theorem when property rights are well defined and legally enforceable and transactions costs are not prohibitive ?

Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?