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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

The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone ?
A benefits if each acts in his/her own interest
B will increase their profits in a free market
C should act to maximize economic growth
D should act to promote the public interest
Correct Answer: benefits if each acts in his/her own interest
The Lawis model explains how growth gets started in a less developed economy ?
A with an average product of labor in agriculture that is negative
B with a downward-sloping supply curve of labor
C with a marginal productivity of labor zero or negligible in industry
D with a traditional agricultural sector and an industrial capitalist sector
Correct Answer: with a traditional agricultural sector and an industrial capitalist sector
The synchronized application of capital to a wide range of different industries is called __________ by its advocates?
A balanced growth
B capitalization
C elasticity of capital
D indivisibilities
Correct Answer: balanced growth
Rostow’s economics stages are ?
A The preconditions for takeoff, the takeoff, the drive to maturity and the age of creative destruction
B The traditional society the preconditions for takeoff, the takeoff, the drive to maturity and the age of high mass consumption
C the preconditions for consumption the replication the drive to maturity and the age of high mass consumption
D the learning curve the age of high mass consumption post takeoff, and the drive to maturity
Correct Answer: The traditional society the preconditions for takeoff, the takeoff, the drive to maturity and the age of high mass consumption
Karl Marx’s historical materialism views were shaped by all of the following EXCEPT ?
A The French Revolution
B The rise of industrial and capitalist production
C Political and labor revolts
D a growing spiritual rationalism
Correct Answer: a growing spiritual rationalism
Which of the following was not a classical economist ?
A Adam Smith
B Thomas R. Malthus
C John Stuart Mill
D John Maynard Keynes
Correct Answer: John Maynard Keynes
During the 1980s and 1990s a period of economic conservative governments in much of West and Japan, a leading approach among development economists was ?
A neoclassicism
B Marxism
C Rostow’s model
D classical appraoch
Correct Answer: neoclassicism
Surplus labor theories assume that ?
A LDCs are overpopulated
B labor contributes nothing to output in LDCs
C the marginal products of labor is closed to zero in LDCs
D urban unemployment is high in LDCs
Correct Answer: the marginal products of labor is closed to zero in LDCs
The Vicious circle theory states that ?
A growing government assistance create addiction to welfare programs
B low income levels create pressure for money creation
C low income levels create pressure for cheap imports
D low per capita incomes creates low savings that keep incomes low
Correct Answer: low per capita incomes creates low savings that keep incomes low
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