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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.

Under free trade suppose that Japan can supply radios t mexico at the price of $45 Therefore, Mexico’s imports equal ?

A 5 radios

B 10 radios

C 15 radios

D zero radios

Review Detailed Answer

Correct Answer: zero radios

Those who argue in favor of import protection generally give the impression that such restricted trade will?

A decrease the level of national security

B provide benefits to some particular industry

C provide benefits to the entire nation

D not yield welfare losses for the nation

Review Detailed Answer

Correct Answer: provide benefits to the entire nation

The institutional framework developed in 1947 to promote trade liberalization is known sa?

A the WTO

B the GATT

C the IMF

D the World Bank

Review Detailed Answer

Correct Answer: the GATT

During the post-world War II era?

A Nontariff barriers (NTBs) and tariffs have increased in relative importance

B NTBs and tariffs have decreased in relative importance

C NTBs have increased and tariffs have decreased in relative importance

D NTBs have decreased and tariffs have increased in relative importance

Review Detailed Answer

Correct Answer: NTBs have increased and tariffs have decreased in relative importance

Referring to the above, the embargo was mainly resisted by ?

A U.S grains consumers and producers of bread

B U.S farmers and grains companies

C Grain Producers in foreign countries

D Grain consumers in foreign countries

Review Detailed Answer

Correct Answer: U.S farmers and grains companies

Economic sanctions?

A are prohibited by the World Trade Organization

B affect international trade but not international financial flows

C involve restrictions on imports, but not exports

D involve restrictions in imports exports and or financial flows

Review Detailed Answer

Correct Answer: involve restrictions in imports exports and or financial flows

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Under free trade suppose that Japan can supply radios t mexico at the price of $45 Therefore, Mexico’s imports equal ?

Those who argue in favor of import protection generally give the impression that such restricted trade will?

The institutional framework developed in 1947 to promote trade liberalization is known sa?

During the post-world War II era?

Referring to the above, the embargo was mainly resisted by ?

Economic sanctions?