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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

Disguised unemployed is?
A when marginal revenue productivity of labor is zero
B the same as seasonal unemployment of LDC agricultural
C the rigid factor proportions in LDC agriculture and industry
D due to capital formation and the level of technology remaining constant.
Correct Answer: when marginal revenue productivity of labor is zero
During the Great Depression workers in DCs who took inferior jobs as a result of being laid off were known as ?
A disguised unemployed
B cyclical unemployed
C seasonally unemployed
D voluntarily unemployed
Correct Answer: disguised unemployed
The unemployment rate is the ?
A employed plus unemployed divided by labor force
B total employment divided by population
C labor force divided by population
D unemployed divided by employed
Correct Answer: employed plus unemployed divided by labor force
Labor skills are a major component of ?
A fertility
B population quality
C mortality
D morbidity
Correct Answer: population quality
In a production function Y = F(L, K,N,E,T) Y is ?
A national product
B capital
C natural resources
D prevailing technology
Correct Answer: national product
A production function ?
A shows the dependency output of the working population
B depicts the relationship between input and output
C states the relationship between products and income distribution
D is a function of natural resources in a country
Correct Answer: depicts the relationship between input and output
The Benazir Benefit income Scheme is a good example of ?
A a benefit in kind.
B a means tested cash benefit
C a universal (social insurance based) benefit
D none of the above
Correct Answer: a benefit in kind.
VAT is a good example of which kind of tax ?
A specific
B Direct
C Ad valorem
D Excise duty
Correct Answer: Ad valorem
Where a tax can be shifted the incidence depends on ?
A whether there is perfect or imperfect information
B who is legally obliged to pay the tax
C elasticities of demand and supply
D how many producers there are:
Correct Answer: elasticities of demand and supply
Tax incidence is the ?
A structure of the tax.
B ultimate distribution of a tax’s burden
C behaviour of shifting the tax to another party
D measure of the impact the tax has on employment and output
Correct Answer: ultimate distribution of a tax’s burden
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