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Economics Mcqs 4423 MCQs [All-Courses]

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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.

All Topics  4423

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
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
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
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
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
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
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
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
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
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
Correct Answer: Per capita income of citizens
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