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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

To adjust from Gross National Product to Net National Product ?
A Deduct depreciation
B Deduct indirect taxes
C Deduct subsidies
D Add inflation
Correct Answer: Deduct subsidies
In a boom ?
A Surpluses are likely to occur:
B Prices are likely to fall
C Supply will increase immediately to match demand
D Shortages may occur
Correct Answer: Supply will increase immediately to match demand
The standard of living is often measured by ?
A Real GDP per capita
B Real GDP
C Real GDP population
D Real GDP plus depreciation
Correct Answer: Real GDP per capita
Net National Product equals ?
A Gross National Product adjusted for inflation
B Gross Domestic Product adjusted for inflation
C Gross Domestic Product plus net property income from abroad
D Gross National Product minus depreciation
Correct Answer: Gross National Product minus depreciation
If your grandparents buy a newly built retirement home, this transaction would affect ?
A investment
B net exports
C government purchases
D consumption
Correct Answer: investment
How is your purchase in Pakistan of a Rs40,000 BMW automobile that was produced entirely in Germany recorded in the Pakistan’s GDP accounts ?
A Consumption in increase by Rs40,000 and net export decreases by Rs40,000
B Net exports increase by Rs40,000
C There is no impact because this transaction does not involve domestic production
D Investment increased by Rs40,000 and net exports increases by Rs40,000
Correct Answer: Consumption in increase by Rs40,000 and net export decreases by Rs40,000
If Pakistan’s GDP exceeds Pakistan’s GNP, then ?
A intermediate production exceeds final production
B foreigners are producing more in the Pakistan then Pakistanis are producing in foreign countries
C real GNP exceeds nominal GNP
D real GDP exceeds nominal GDP
Correct Answer: foreigners are producing more in the Pakistan then Pakistanis are producing in foreign countries
GDP would include which of the following ?
A the value of taking a day off from work
B consulting services
C intermediate sales
D illegal drug sales
Correct Answer: consulting services
If nominal GDP in 2005 exceeds nominal GDP in 2004, then the production of output ?
A must have fallen
B must have risen
C must have stayed the same
D may have risen fallen, or stayed the same because there is not enough information to determine what happened to real output
Correct Answer: may have risen fallen, or stayed the same because there is not enough information to determine what happened to real output
Pakistan’s Gross Domestic Product (in contrast to Gross National Product) measures the production and income of ?
A Pakistan -owned firms no matter where they are located in the world
B The domestic manufacturing sector only
C The domestic service sector only
D People and factories located within the borders of the Pakistan
Correct Answer: The domestic manufacturing sector only
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