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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

According to the supply side of the vicious circle theory of development a country is poor because ?
A technology levels do not allow for self sufficiency
B it was previously too poor to save and invest
C underemployment is too widespread
D resource allocation is poor
Correct Answer: it was previously too poor to save and invest
One criticism of Rostow’s theory of economic growth is that ?
A much available data contradicts his thesis about the takeoff stage
B there is no explanation of why growth occurs after takeoff
C his hypothesis of the stages of growth is difficult to test empirically
D All of the above are correct
Correct Answer: All of the above are correct
The essential difference between capitalism and socialism is that ?
A capitalism exploits the worker and socialism exploits the property owner
B capitalism relies on the market to make economic decisions and socialism uses central planning
C capitalism grows through rent seeking and socialism grows through government direction
D capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction
Correct Answer: capitalism relies on the market to make economic decisions and socialism uses central planning
What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America ?
A monopolistic business from abroad
B reactionary ruling coalitions
C weak domestic middle class
D All of the above
Correct Answer: All of the above
OECD stands for ?
A Organization for Economic Cooperation and Development and Development
B Oil Exporting Countries Development
C Organization for Environmental cooperative Department
D Open Economies Caucus on Development
Correct Answer: Organization for Economic Cooperation and Development and Development
For Rosentein Rodan a major indivisibility is in ?
A Supply
B infrastructure
C agriculture
D services
Correct Answer: infrastructure
The Vicious circle theory indicates that ?
A a country is poor because it has lower productivity but high savings
B as countries grow richer they save less
C poverty perpetuates itself in mutually reinforcing circles on supply and demand sides
D market size is large in LDCs
Correct Answer: poverty perpetuates itself in mutually reinforcing circles on supply and demand sides
The Harrod Domar growth model suggests that growth is ?
A directly related to savings and inversely related to the capital/output ratio
B directly related to the capital/output ratio and inversely related to savings
C indirectly related to savings and the capital/output ratio
D directly related to savings and the capital/output ratio
Correct Answer: directly related to savings and inversely related to the capital/output ratio
Baran’s Neo-Marxist thesis has been criticized for ignoring the probability that power is frequently ?
A based on an alliance between landowners and peasants
B based on an alliance between peasants and the foreign bourgeoisie
C transferred from one elite to another when revolution occurs
D derived from domestic opponents of nationalism
Correct Answer: transferred from one elite to another when revolution occurs
Criticisms of Rostow’s stages of development include ?
A the difficulty of testing the stages scientifically
B conditions for takeoff are contradicted by historical evidence
C characteristics of one stage are not unique to that stage
D All of the above are correct
Correct Answer: All of the above are correct
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