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Economics Mcqs 4423 MCQs [All-Courses]

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.

Which of the following will not shift a country’s production possibilities frontier outward ?

A an advance in technology

B an increase in the labor force

C an increase in the capital stock

D a reduction in unemployment

Review Detailed Answer

Correct Answer: a reduction in unemployment

Which of the following statements about microeconomics and macroeconomics is not true ?

A The study of very large industries is a topic within macroeconomics

B Macroeconomics is concerned with economy-wide phenomena

C Microeconomics is a building block for macroeconomics

D Microeconomics and macroeconomics cannot be entirely separated

Review Detailed Answer

Correct Answer: The study of very large industries is a topic within macroeconomics

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

A really don’t disagree at all It just appears that they disagree.

B disagree because they have different values.

C none of these answers.

D disagree because they have different scientific judgments.

Review Detailed Answer

Correct Answer: disagree because they have different values.

In making which of the following statements is an economist acting more like a scientist ?

A A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.

B The rate of inflation should be reduced because it robs the elderly of their savings.

C The unemployment rate should be reduced because unemployment robs individuals of their dignity.

D The state should increase subsidies to universities because the future of our country depends on education.

Review Detailed Answer

Correct Answer: A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.

Economic growth is depicted by ?

A a shift in the production possibilities frontier outward.

B a movement from inside the curve toward the curve.

C a shift in the production possibilities frontier inward

D a movement along a production possibilities frontier toward capital goods.

Review Detailed Answer

Correct Answer: a shift in the production possibilities frontier outward.

Points on the production possibilities frontier are ?

A inefficient

B normative

C unattainable

D efficient

Review Detailed Answer

Correct Answer: efficient

Which of the following is not a factor of production ?

A labor

B land

C money

D capital

Review Detailed Answer

Correct Answer: money

Which of the following is most likely to produce scientific evidence about a theory ?

A A lawyer employed by Renault addressing the impact of air bags on passenger safety.

B An economist permanently employed at a leading university analyzing the impact of bank regulations on lending to small businesses

C An economist employed by the Trades union congress doing research on the impact of trade policy on workers’ wages

D A radio talk show host collecting data from listeners on how capital markets respond to taxation

Review Detailed Answer

Correct Answer: An economist permanently employed at a leading university analyzing the impact of bank regulations on lending to small businesses

In which of the following cases is the assumption most reasonable ?

A To address the impact to taxes on income distribution an economist assumes that everyone earns the same income.

B To address the impact of money growth on inflation, an economist assumes that money is strictly coins.

C To model the benefits of trade. an economist assumes that there are two people and two goods

D To estimate the speed at which a beach ball falls, a physicist assumes that if falls in a vacuum.

Review Detailed Answer

Correct Answer: To model the benefits of trade. an economist assumes that there are two people and two goods

Economic models are ?

A Usually made of wood and plastic

B built with assumptions.

C useless if they are simple.

D created to duplicate reality.

Review Detailed Answer

Correct Answer: built with assumptions.

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Economics Mcqs 4423 MCQs [All-Courses]

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All Topics 4423

Which of the following will not shift a country’s production possibilities frontier outward ?

Which of the following statements about microeconomics and macroeconomics is not true ?

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

In making which of the following statements is an economist acting more like a scientist ?

Economic growth is depicted by ?

Points on the production possibilities frontier are ?

Which of the following is not a factor of production ?

Which of the following is most likely to produce scientific evidence about a theory ?

In which of the following cases is the assumption most reasonable ?

Economic models are ?