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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

Suppose your income rises from Rs19,000 to Rs31,000 while the CPI rises from 122 to 169 Your standard of living has likely ?
A fallen
B You can’t tell without knowing the base year
C risen
D stayed the same
Correct Answer: risen
If there is an increase in the price of apples which causes consumers to purchase fewer kilograms of apples and more kilograms of oranges, the CPI will suffer from ?
A none of these answers
B substitution bias
C base year bias
D bias due to unmeasured quality change
Correct Answer: substitution bias
Which of the following would probably cause the CPI to rise more than the GDP deflator in the Pakistan ?
A An increase in the price of BMWs produced in Germany and sold in the Pakistan
B An increase in the price of Peugeots produced in the Pakistan
C An increase in the price of helicopters purchased by the Pak Navy.
D An increased in the Price of domestically produced armoured vehicles sold exclusively to Iran
Correct Answer: An increase in the price of BMWs produced in Germany and sold in the Pakistan
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