MCQsDrive | MCQsDrive

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.

Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?

A sell 4 million pounds of tin

B sell 8 million pounds of tin

C buy 4 million pounds of tin

D buy 8 million pounds of tin

Review Detailed Answer

Correct Answer: buy 4 million pounds of tin

Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _____ quantity equals _ and profits total _____?

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

B $80, 4 million barrels per day $70 million

C $60, 6 million barrels per day, $20 million

D $40, 8 million barrels per day, $0 million

Review Detailed Answer

Correct Answer: $40, 8 million barrels per day, $0 million

Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?

A World Bank

B International Monetary Fund

C Council on Foreign Relations

D Organization of petroleum Exporting Countries

Review Detailed Answer

Correct Answer: World Bank

The People’s Republic of China ?

A is the first of the East Asian countries to be recognized for a successful outward-oriented development strategy

B has retained to the present time its strategy of import substitution as a source of economic growth

C has always accounted for a significant share of international trade, given its very large population

D has significantly increased its openness to international trade and foreign investment in recent decades

Review Detailed Answer

Correct Answer: has significantly increased its openness to international trade and foreign investment in recent decades

The OPEC oil cartel ?

A has shown that is easy to achieve cooperation among cartel members

B was successful in raising oil prices in the 1970s but was disbanded in the 1980s

C has shown greater success in realizing profits during periods of global recession

D has had a level of success in raising oil prices that other developing countries are unlikely to achieve with other primary commodities

Review Detailed Answer

Correct Answer: has had a level of success in raising oil prices that other developing countries are unlikely to achieve with other primary commodities

Economic growth occurs because ?

A labor forces increase

B capital stocks increase

C new inventions increase productivity

D All of the above

Review Detailed Answer

Correct Answer: All of the above

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

A relatively greater than

B relatively less than

C the same as

D Any of the above

Review Detailed Answer

Correct Answer: relatively less than

Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to tin and an export quota agreement would require that member countries _____ their export of tin?

A purchase; decrease

B purchase; increase

C sell; increase

D sell; decrease

Review Detailed Answer

Correct Answer: sell; increase

The Generalized System of Preferences (GSP) program allows ?

A developing country export to advanced countries to receive preferential tariff treatment

B developing country imports from advanced countries to receive preferential tariff treatment

C any developing country to ignore the most-favored nation clause

D any advanced country to ignore the most favored-nation clause

Review Detailed Answer

Correct Answer: developing country export to advanced countries to receive preferential tariff treatment

Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?

A relatively low import tariffs maintained by advanced countries

B highly elastic demand for these products in advanced countries

C declines in the supplies of these products on world markets

D sluggish demand for these products in advanced countries

Review Detailed Answer

Correct Answer: sluggish demand for these products in advanced countries

Showing 21 to 30 of 40 results

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?

Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _____ quantity equals _ and profits total _____?

Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?

The People’s Republic of China ?

The OPEC oil cartel ?

Economic growth occurs because ?

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

The Generalized System of Preferences (GSP) program allows ?

Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?

Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________?

Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?

The People’s Republic of China ?

The OPEC oil cartel ?

Economic growth occurs because ?

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

The Generalized System of Preferences (GSP) program allows ?

Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?

Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _____ quantity equals _ and profits total _____?