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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.

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?

A domestic subsidy

B export subsidy

C import quota

D export quota

Review Detailed Answer

Correct Answer: import quota

Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?

A lower the welfare of all Pakistanis

B lead to increases in Pakistani consumer surplus

C encourage Pakistan’s production of competing goods

D encourage Pakistani workers to demand higher wages

Review Detailed Answer

Correct Answer: lead to increases in Pakistani consumer surplus

With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _ and its consumer surplus would relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?

A 20 calculators increase

B 25 calculators decrease

C 25 calculators increase

D 30 calculators increase

Review Detailed Answer

Correct Answer: 30 calculators increase

The reason for dumping is that the demand curve for ABC Co’s computers is _ because __ are available from other nations?

A more elastic in Japan, more substitutes are available from other nations

B more elastic in Japan, fewer substitutes are available from other; nations

C more inelastic in Japan; more substitutes are available from other; nations

D more inelastic in Japan; fewer substitutes are available from other nations

Review Detailed Answer

Correct Answer: more elastic in Japan, more substitutes are available from other nations

From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?

A help more than they hurt

B hurt more then they help

C are equivalent to an import quota

D are equivalent to an export quota

Review Detailed Answer

Correct Answer: help more than they hurt

With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _ and its producer surplus will . Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?

A 1,600 computers, decrease, increase

B 1,600 computers, increase, decrease

C 1,200 computers, decrease, increase

D 1,200 computers, increase, decrease

Review Detailed Answer

Correct Answer: 1,600 computers, increase, decrease

By practicing price discrimination, the firm would realize profits totaling ?

A $160,000

B $420,000

C $540,000

D $660,000

Review Detailed Answer

Correct Answer: $660,000

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?

Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?

The reason for dumping is that the demand curve for ABC Co’s computers is _ because __ are available from other nations?

From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?

By practicing price discrimination, the firm would realize profits totaling ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?

Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?

The reason for dumping is that the demand curve for ABC Co’s computers is _______ because ________ are available from other nations?

From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?

By practicing price discrimination, the firm would realize profits totaling ?

The reason for dumping is that the demand curve for ABC Co’s computers is _ because __ are available from other nations?