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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.

If a nation has an open economy it means that the nation ?

A Allows private ownership of capital

B Has flexible exchange rates

C Has fixed exchange rates

D conducts trade with other countries

Review Detailed Answer

Correct Answer: conducts trade with other countries

A main advantage of specialization results from ?

A Economies of large-scale production

B The specializing country behaving as a monopoly

C Smaller production runs resulting in lower unit costs

D High wages paid to foreign workers

Review Detailed Answer

Correct Answer: Economies of large-scale production

If a country has a burden of debt it cannot sustain it can ?

A reschedule debt

B get a loan from an international organization

C default on the loan

D any of the above

Review Detailed Answer

Correct Answer: any of the above

Import substitution is the replacement of __ by domestic production _ protection of ______?

A exports, subsidies

B exports, patents

C imports, high tariffs or import quotas

D imports, subsidies

Review Detailed Answer

Correct Answer: imports, high tariffs or import quotas

LDCs are reluctant to pursue development through the export of primary products because of and _ ?

A The upward trend in commodity prices the stability of primary products real prices

B The upward trend in commodity prices, the volatility of primary products real prices

C The downward trend in commodity prices the stability of primary products real prices

D The downward trend in commodity prices the volatility of primary products real prices

Review Detailed Answer

Correct Answer: The downward trend in commodity prices the volatility of primary products real prices

All of the following represent obstacles to LDC development except ?

A resource scarcity

B low levels of investment

C low population

D poor infrastructure

Review Detailed Answer

Correct Answer: low population

Economic transition involves high inflation because _ and __?

A high monetary growth high wages

B high budget deficits devaluation

C high monetary growth devaluation

D Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue

Review Detailed Answer

Correct Answer: Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue

An optimal tariff is one which reduces imports to the level at which equals ?

A imports, exports

B the balance of trade, zero

C The demand for currency the supply of currency

D social marginal cost, social marginal benefit

Review Detailed Answer

Correct Answer: social marginal cost, social marginal benefit

The imposition of a tariff causes consumption to _ and imports to _____?

A rise, rise

B fall, rise

C fall, fall

D rise, fall

Review Detailed Answer

Correct Answer: fall, fall

The main cause of different relative costs between countries are ?

A relative factor competition

B relative factor mobility

C relative factor substitution

D relative factor endowments

Review Detailed Answer

Correct Answer: relative factor endowments

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

If a nation has an open economy it means that the nation ?

A main advantage of specialization results from ?

If a country has a burden of debt it cannot sustain it can ?

Import substitution is the replacement of __ by domestic production _ protection of ______?

LDCs are reluctant to pursue development through the export of primary products because of and _ ?

All of the following represent obstacles to LDC development except ?

Economic transition involves high inflation because _ and __?

An optimal tariff is one which reduces imports to the level at which equals ?

The imposition of a tariff causes consumption to _ and imports to _____?

The main cause of different relative costs between countries are ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

If a nation has an open economy it means that the nation ?

A main advantage of specialization results from ?

If a country has a burden of debt it cannot sustain it can ?

Import substitution is the replacement of ____ by domestic production _____ protection of ________?

LDCs are reluctant to pursue development through the export of primary products because of ____ and _____ ?

All of the following represent obstacles to LDC development except ?

Economic transition involves high inflation because _____ and ______?

An optimal tariff is one which reduces imports to the level at which ____ equals ____?

The imposition of a tariff causes consumption to _____ and imports to _________?

The main cause of different relative costs between countries are ?

Import substitution is the replacement of __ by domestic production _ protection of ______?

LDCs are reluctant to pursue development through the export of primary products because of and _ ?

Economic transition involves high inflation because _ and __?

An optimal tariff is one which reduces imports to the level at which equals ?

The imposition of a tariff causes consumption to _ and imports to _____?