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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

When we refer to the hidden economy we mean unrecorded income owing to ?
A tax evasion
B poor statistics
C the lags between statistical collection and publication
D smuggling
Correct Answer: tax evasion
Real GNP measures income ?
A including non-market activities
B adjusted for inflation
C including externalities
D including tax evasion
Correct Answer: adjusted for inflation
In the circular flow we would expect leakages to ___________ injections?
A equal
B be less than
C be greater than
D be less or greater than
Correct Answer: equal
Leakages from the circular flow are _________ and __________?
A investment, savings, government expenditure
B savings, taxes net of subsidies imports
C consumption investment government expenditure
D consumption taxes imports
Correct Answer: savings, taxes net of subsidies imports
In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?
A 3>2>1
B 3=2=1
C 3<2<1
D any measure can be larger or smaller than any other
Correct Answer: 3=2=1
Aggregate supply is the total amount ?
A produced by the government
B of products produced by a given industry
C of labor supplied by all households
D of goods and services produced in an economy
Correct Answer: of goods and services produced in an economy
Two of the major factors contributing to growth are ?
A resources and efficiency
B money and efficiency
C money and luck
D resources and a good climate
Correct Answer: resources and efficiency
The underground economy consists of ?
A legal transactions
B part of the rail network
C legal transactions not declared for tax and illegal activities
D the water distribution system
Correct Answer: legal transactions
Equilibrium in the circular flow of income occurs when ?
A Injections = withdrawals
B There is a Bank Holiday
C Injections withdrawals
D None of these
Correct Answer: Injections = withdrawals
Total withdrawals from the circular flow of income include ?
A consumption savings and taxes
B savings government expenditure and imports
C savings taxes and exports
D savings taxes and imports
Correct Answer: savings taxes and imports
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