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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.

In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?

A 3>2>1

B 3=2=1

C 3<2<1

D any measure can be larger or smaller than any other

Review Detailed Answer

Correct Answer: 3=2=1

Aggregate supply is the total amount ?

A produced by the government

B of products produced by a given industry

C of labor supplied by all households

D of goods and services produced in an economy

Review Detailed Answer

Correct Answer: of goods and services produced in an economy

Two of the major factors contributing to growth are ?

A resources and efficiency

B money and efficiency

C money and luck

D resources and a good climate

Review Detailed Answer

Correct Answer: resources and efficiency

The underground economy consists of ?

A legal transactions

B part of the rail network

C legal transactions not declared for tax and illegal activities

D the water distribution system

Review Detailed Answer

Correct Answer: legal transactions

Equilibrium in the circular flow of income occurs when ?

A Injections = withdrawals

B There is a Bank Holiday

C Injections withdrawals

D None of these

Review Detailed Answer

Correct Answer: Injections = withdrawals

Total withdrawals from the circular flow of income include ?

A consumption savings and taxes

B savings government expenditure and imports

C savings taxes and exports

D savings taxes and imports

Review Detailed Answer

Correct Answer: savings taxes and imports

According to the classical economists, the only gainers from growth would be ?

A landlords

B peasants

C The army

D politicians

Review Detailed Answer

Correct Answer: landlords

Indicate below what is NOT a main macroeconomic goal ?

A Increasing North Sea oil production

B Reducing unemployment

C Achieving a sustainable rate of economic growth

D Reducing inflation

Review Detailed Answer

Correct Answer: Reducing unemployment

It has become conventional classify a recession as a period where national output falls for _________ or more?

A three years

B six months

C a year

D two years

Review Detailed Answer

Correct Answer: six months

The index used most often to measure inflation is the?

A wholesale price index (WPI)

B GDP deflator

C Producer price index (PPI)

D consumer price index

Review Detailed Answer

Correct Answer: consumer price index

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?

Aggregate supply is the total amount ?

Two of the major factors contributing to growth are ?

The underground economy consists of ?

Equilibrium in the circular flow of income occurs when ?

Total withdrawals from the circular flow of income include ?

According to the classical economists, the only gainers from growth would be ?

Indicate below what is NOT a main macroeconomic goal ?

It has become conventional classify a recession as a period where national output falls for _________ or more?

The index used most often to measure inflation is the?