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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

If two countries start with the same real GDP/person and one country grows at 2 percent while the other grows at 4 percent ?
A one country will always have 2 percent more real GDP/person than the other
B the standard of living in the country growing at 4 percent will start to accelerate away from the slower growing country due to compound growth
C the standard of living in the two countries will converge
D Next year the country growing at 4 percent will have twice the GDP/person as the country growing at 2 percent
Correct Answer: the standard of living in the country growing at 4 percent will start to accelerate away from the slower growing country due to compound growth
JCB (Which makes agricultural and construction equipment) has the opportunity to purchase a new factory today that will provide them with a Rs50 million return four years from now If prevailing interest rates are 6 percent, what is the maximum that the project can cost for JCB to be willing to undertake the project ?
A Rs 43,456,838
B Rs 53,406,002
C Rs 34,538,902
D Rs 39,604,682
Correct Answer: Rs 39,604,682
The amount today that would be needed, at prevailing interest rates, to produce a particular sum in the future is known as ?
A future value
B fair value
C present value
D compound value
Correct Answer: present value
If the world price of steel is $500 a ton a specific tariff $50 is equivalent to an ad valorem tariff of______________?
A 5 percent
B 10 percent
C 15 percent
D 20 percent
Correct Answer: 10 percent
In today’s world, most countries impose tariffs ?
A only on imports
B only on exports
C on both imports and exports
D on imports exports and nontraded goods
Correct Answer: only on imports
Domestic producers gain ________ because on the tariff?
A $50,000
B $75,000
C $120,000
D $150,000
Correct Answer: $75,000
With the tariff the government collects?
A $75,000
B $100,000
C $125,000
D $150,000
Correct Answer: $100,000
Suppose there is no tariff on imported inputs and the ratio of the value of imported inputs the value of the final product is 0.5 If the nominal tariff rate on the final product is 10 percent, the effective tariff rate equals ?
A 5 percent
B 10 percent
C 15 percent
D 20 percent
Correct Answer: 20 percent
A tariff can _______ raise a country’s welfare?
A never
B sometimes
C always
D None of these
Correct Answer: sometimes
If a nation fitting the criteria for the large nation model imposes an import tariff ?
A the domestic price of the product will increase by more than the tariff itself
B The domestic price of the product will increase by the same amount as the tariff
C The domestic price of the product will increase by less than the tariff
D None of the above
Correct Answer: The domestic price of the product will increase by less than the tariff
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