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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

A profit maximising firm will employ labour up to the point where ?
A Marginal revenue = marginal product
B Marginal cost = marginal product
C Marginal revenue product = average cost of labour
D Marginal revenue product = marginal cost of labour
Correct Answer: Marginal cost = marginal product
The Marginal Revenue Product is ?
A Upward sloping due to the law of demand
B Upward sloping due to the law of marginal utility
C Downward sloping due to the law of diminishing returns
D Downward sloping due to the law of supply
Correct Answer: Upward sloping due to the law of demand
A fall in demand for labour is likely to lead to ?
A A lower equilibrium wage and lower quantity of labour
B A lower equilibrium wage and higher quantity of labour
C A higher equilibrium wage and higher quantity of labour
D A higher equilibrium wage and lower quantity of labour
Correct Answer: A lower equilibrium wage and higher quantity of labour
An increase in the wage rate ?
A Will usually lead to more people employed
B Will decrease total earning if the demand for labour is wage elastic
C is illegal in a free market
D will cause a shift in the demand for labour
Correct Answer: will cause a shift in the demand for labour
Guest worker programs usually result in temporary migration of workers from ?
A impoverished countries to impoverished countries
B impoverished countries to wealthy countries
C wealthy countries to wealthy countries
D wealthy countries to impoverished countries
Correct Answer: impoverished countries to wealthy countries
The migrations of electricians from low-paying nations to high-paying nations is most likely to be challenged by ?
A electrician unions in the high-paying nations
B electrician unions in the low paying nations
C electrician employers in the high-paying nations
D electricians who stay in the low paying nations
Correct Answer: electrician unions in the high-paying nations
The migration of employable workers from low-paying nations to high-paying nations will ?
A decrease wage rates in the low-paying nations
B decrease productivity and real output in the world
C increase business or capitalist incomes in the high-paying nations
D increase business or capitalist incomes in the low-paying nations
Correct Answer: increase business or capitalist incomes in the high-paying nations
International joint ventures can lead to welfare losses when the newly established firm ?
A adds to the pre-existing productive capacity
B enters markets neither parent could have entered individually
C yields cost reductions unavailable to parent firms
D gives rise to increased amounts of market power
Correct Answer: gives rise to increased amounts of market power
Accusations of American labor unions against U.S multinational firms include all of the following except ?
A enjoy unfair advantage in taxation
B export jobs by shifting technology overseas
C export jobs by shifting investment overseas
D operating at output levels where scale economies occur
Correct Answer: operating at output levels where scale economies occur
Multinational corporations face problems since they ?
A cannot benefit from the advantage of comparative advantage
B may raise political problems in countries where their subsidiaries operate
C can only invest at home but not overseas
D can only invest overseas but not at home
Correct Answer: may raise political problems in countries where their subsidiaries operate
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