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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.

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

A substitutes inferior

B normal, complements

C substitutes complements

D normal, inferior

Review Detailed Answer

Correct Answer: substitutes complements

If demand is __ then price cuts will _ spending?

A inelastic; increase

B elastic; increase

C elastic, decrease

D none of the above

Review Detailed Answer

Correct Answer: elastic; increase

Increased levels of spending on imports ?

A shift aggregate supply to the right

B shift aggregate supply to the left

C shift aggregate demand to the right

D shift aggregate demand to the left

Review Detailed Answer

Correct Answer: shift aggregate demand to the left

Increase unemployment benefits and less incentive to work would ?

A shift aggregate supply to the right

B shift aggregate supply to the left

C shift aggregate demand to the right

D shift aggregate demand to the left

Review Detailed Answer

Correct Answer: shift aggregate supply to the right

Which of the following would decease aggregate demand ?

A increase consumption

B increasing export revenue

C increased taxation revenue

D increased investment

Review Detailed Answer

Correct Answer: increasing export revenue

An increase in aggregate demand will have most effect on prices if ?

A Aggregate supply is price inelastic

B Aggregate supply is price elastic

C Aggregate supply has a unitary price elasticity

D Aggregate demand is price inelastic

Review Detailed Answer

Correct Answer: Aggregate supply is price elastic

A shift in aggregate supply is likely to ?

A Reduce the general price level and reduce national income

B Reduce the general price level and increase national income

C Increase the general price level and reduce national income

D Increase the general price level and increase national income

Review Detailed Answer

Correct Answer: Reduce the general price level and reduce national income

An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?

A +2

B +0.5

C -2

D -0.5

Review Detailed Answer

Correct Answer: +0.5

An increase in price all other things unchanged leads to ?

A A shift in supply outwards

B A shift in supply inwards

C A contraction of supply

D An extension of supply

Review Detailed Answer

Correct Answer: An extension of supply

A contraction in supply occurs when ?

A Demand shifts outwards

B The supply curve shifts inwards

C The quantity supplied falls when the price falls

D The supply curve shifts outwards

Review Detailed Answer

Correct Answer: The quantity supplied falls when the price falls

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

If demand is __ then price cuts will _ spending?

Increased levels of spending on imports ?

Increase unemployment benefits and less incentive to work would ?

Which of the following would decease aggregate demand ?

An increase in aggregate demand will have most effect on prices if ?

A shift in aggregate supply is likely to ?

An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?

An increase in price all other things unchanged leads to ?

A contraction in supply occurs when ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

If demand is __________ then price cuts will _________ spending?

Increased levels of spending on imports ?

Increase unemployment benefits and less incentive to work would ?

Which of the following would decease aggregate demand ?

An increase in aggregate demand will have most effect on prices if ?

A shift in aggregate supply is likely to ?

An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?

An increase in price all other things unchanged leads to ?

A contraction in supply occurs when ?

If demand is __ then price cuts will _ spending?