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.

Fiscal deficit in the budget means ?

A Revenue deficit plus the net borrowings of the government

B Budgetary deficits plus the net borrowings of the government

C Capital deficit plus revenue deficit

D Primary deficit minus capital deficit

Review Detailed Answer

Correct Answer: Budgetary deficits plus the net borrowings of the government

The sum of total income received for the services of labor, land or capital in a country is called?

A Gross domestic product

B National income

C Gross domestic income

D Gross national income

Review Detailed Answer

Correct Answer: National income

Which of the following would increase national income ?

A Increase in taxation

B Increase in savings

C Increase in govt. spending

D Decrease in consumption spending

Review Detailed Answer

Correct Answer: Increase in govt. spending

Market value of all final goods and services produced in a country during a year is definition of ?

A NI

B NNP

C GNP

D Consumption

Review Detailed Answer

Correct Answer: GNP

GNP includes ?

A A loan from a bank

B A loan from one’s parents

C Gifts and donations

D A broker’s commission

Review Detailed Answer

Correct Answer: A broker’s commission

The term “Dumping” means ?

A The sale of the sub-standard commodity

B Sale in a foreign market of a commodity at a price below marginal cost

C Sale in a foreign market of a commodity just at marginal cost without too much of profit

D Smuggling of goods without paying any customs duty

Review Detailed Answer

Correct Answer: Sale in a foreign market of a commodity at a price below marginal cost

To determine the correct level of GNP, it is necessary to ?

A To add up the values of goods and services for one year

B Add up all savings

C To count all imports

D To add up the value of semi-finished goods

Review Detailed Answer

Correct Answer: To add up the values of goods and services for one year

What can a government do to increase demand in its economy ?

A Budget for a surplus

B Cut taxes

C Encourage savings

D Reduce its expenditure

Review Detailed Answer

Correct Answer: Cut taxes

Which situation will a country face, if the birth rate falls sharply, while the death rate remains unchanged ?

A a fall in living standards

B a more youthful population

C an ageing population

D an increase in population

Review Detailed Answer

Correct Answer: an ageing population

Which of the following is not required while computing Gross National Product (GNP) ?

A Net foreign investment

B Private investment

C Per capita income of citizens

D None of the above

Review Detailed Answer

Correct Answer: Per capita income of citizens

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Fiscal deficit in the budget means ?

The sum of total income received for the services of labor, land or capital in a country is called?

Which of the following would increase national income ?

Market value of all final goods and services produced in a country during a year is definition of ?

GNP includes ?

The term “Dumping” means ?

To determine the correct level of GNP, it is necessary to ?

What can a government do to increase demand in its economy ?

Which situation will a country face, if the birth rate falls sharply, while the death rate remains unchanged ?

Which of the following is not required while computing Gross National Product (GNP) ?