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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.

If an increase in the price of a good has no impact on the total revenue in that market demand must be ?

A all of these answers

B price inelastic

C unit price elastic

D price elastic

Review Detailed Answer

Correct Answer: unit price elastic

If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

A zero

B infinite

C one

D unable to be determined form this information

Review Detailed Answer

Correct Answer: zero

If the cross-price elasticity between two goods is negative the two goods are likely to be ?

A substitutes

B complements

C necessities

D luxuries

Review Detailed Answer

Correct Answer: complements

Which of the following would cause a demand curve for a good to be price inelastic ?

A The good is luxury

B There are a great number of substitutes for the good

C The good is a necessity

D The good is an inferior good

Review Detailed Answer

Correct Answer: The good is a necessity

in general a flatter demand curve is more likely to be ?

A price elastic

B unit price elastic

C none of these answers

D price inelastic

Review Detailed Answer

Correct Answer: price elastic

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

A income inelastic

B price inelastic

C price elastic

D unit price elastic

Review Detailed Answer

Correct Answer: price elastic

Under a system of floating exchange rates there is a general tendency for ?

A exchange rates to be insensitive to the differential rates of inflation between countries

B the currencies of relatively high-inflation countries to depreciate

C the currencies of relatively high inflation countries to appreciate

D the currencies of relatively low inflation countries to depreciate

Review Detailed Answer

Correct Answer: the currencies of relatively high-inflation countries to depreciate

The rise in value of one currency relative to another is ?

A a weakening of a currency

B A depreciation of a currency

C An appreciation of a currency

D a debasement of a currency

Review Detailed Answer

Correct Answer: An appreciation of a currency

A fiscal expansion in the UK ?

A has no predictable effect on the price of the pound sterling?

B does not affect the price of the pound sterling

C tends to appreciate the pound sterling

D tends to depreciate the pound sterling

Review Detailed Answer

Correct Answer: tends to appreciate the pound sterling

Exchange rates that are determined by the unregulated forces of supply and demand are ?

A floating exchange rates

B pegged exchange rates

C managed exchange rates

D fixed exchange rates

Review Detailed Answer

Correct Answer: floating exchange rates

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Economics Mcqs 4423 MCQs [All-Courses]

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All Topics 4423

If an increase in the price of a good has no impact on the total revenue in that market demand must be ?

If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

If the cross-price elasticity between two goods is negative the two goods are likely to be ?

Which of the following would cause a demand curve for a good to be price inelastic ?

in general a flatter demand curve is more likely to be ?

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

Under a system of floating exchange rates there is a general tendency for ?

The rise in value of one currency relative to another is ?

A fiscal expansion in the UK ?

Exchange rates that are determined by the unregulated forces of supply and demand are ?