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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.

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is _ the price equals and profits total __?

A 2 million barrels per day, $100, $60 million

B 4 million barrels per day, $80, $160 million

C 6 million barrels per day, $60, $60 million

D 8 million barrels per day, $40, $20 million

Review Detailed Answer

Correct Answer: 4 million barrels per day, $80, $160 million

Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?

A lower

B higher

C about the same height

D None of the above

Review Detailed Answer

Correct Answer: higher

Membership in the World Trade Organization for china ?

A has been a matter of low priority for the Chinese government

B was achieved in the early 1950s

C has been opposed by a number of labor and human rights organizations in other countries

D has had negligible effect on trade between china and the United States

Review Detailed Answer

Correct Answer: has been opposed by a number of labor and human rights organizations in other countries

The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?

A flying geese

B import substitution

C export orientation

D commodity expansion

Review Detailed Answer

Correct Answer: flying geese

Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?

A inelastic demand for these products in advanced countries

B large increases in the supplies of these products on world markets because of export expansion policies

C sluggish demand for these products in advanced countries

D All of the above

Review Detailed Answer

Correct Answer: All of the above

An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __ and the _ it is for the member producer countries to store/stock pile bauxite?

A relatively small; more difficult

B relatively small; easier

C relatively large; more difficult

D relatively large; easier

Review Detailed Answer

Correct Answer: relatively large; easier

Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

A relatively greater then

B relatively less than

C the same as

D any of the above

Review Detailed Answer

Correct Answer: relatively greater then

In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?

A Px/Pm

B Pm/Px

C (Pm/Px)Qm

D (Px/Pm)Qx

Review Detailed Answer

Correct Answer: Px/Pm

_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?

A absolute advantage

B comparative advantage

C export-led growth

D import substitution

Review Detailed Answer

Correct Answer: import substitution

Export-led growth strategies tend to emphasize ?

A resource allocation based on the principle of absolute advantage

B resource allocation based on the principle of comparative advantage

C trade protection for import-competing firms

D trade protection for exporting-competing firms

Review Detailed Answer

Correct Answer: resource allocation based on the principle of comparative advantage

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is _ the price equals and profits total __?

Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?

Membership in the World Trade Organization for china ?

The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?

Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?

An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __ and the _ it is for the member producer countries to store/stock pile bauxite?

Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?

_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?

Export-led growth strategies tend to emphasize ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?

Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?

Membership in the World Trade Organization for china ?

The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?

Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?

An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?

Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?

_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?

Export-led growth strategies tend to emphasize ?

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is _ the price equals and profits total __?

An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __ and the _ it is for the member producer countries to store/stock pile bauxite?