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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 that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
A purchase; decrease
B purchase; increase
C sell; increase
D sell; decrease
Correct Answer: sell; increase
The Generalized System of Preferences (GSP) program allows ?
A developing country export to advanced countries to receive preferential tariff treatment
B developing country imports from advanced countries to receive preferential tariff treatment
C any developing country to ignore the most-favored nation clause
D any advanced country to ignore the most favored-nation clause
Correct Answer: developing country export to advanced countries to receive preferential tariff treatment
Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?
A relatively low import tariffs maintained by advanced countries
B highly elastic demand for these products in advanced countries
C declines in the supplies of these products on world markets
D sluggish demand for these products in advanced countries
Correct Answer: sluggish demand for these products in advanced countries
Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?
A higher than
B equal to
C lower than
D there is no general pattern
Correct Answer: lower than
Most of developing-country exports consist of ?
A primary products such as tin and bauxite
B intermediate products
C labor-intensive agricultural products
D labor-intensive manufacturing products
Correct Answer: primary products such as tin and bauxite
Concerning tariff policy, the United States does not charge?
A lower tariff rates on goods from nations with normal trade relation status
B lower tariff rates on goods from nations with most favored nation status
C low or zero tariffs on goods from certain developing countries
D identical tariff rates in products from all countries of the world
Correct Answer: identical tariff rates in products from all countries of the world
Among the institutions and policies that have been created to support developing countries are?
A the world Bank
B the international Monetary Fund
C The Generalized System of Preferences
D All of the above
Correct Answer: All of the above
To stabilize the prices of primary products international commodity agreements have utilized all of the following except ?
A tariff-rate quotas applied to imported goods
B production and export controls
C buffer stocks
D multilateral contracts
Correct Answer: tariff-rate quotas applied to imported goods
To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
A international commodity agreements program
B multilateral contract program
C generalized system of preferences program
D export-led growth program
Correct Answer: generalized system of preferences program
To be considered a a good candidate for an export cartel, a commodity should ?
A be a manufactured goods
B be a primary product
C have high price elasticity of supply
D have a low price elasticity of demand
Correct Answer: have a low price elasticity of demand
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