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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

Which of the following describes an increase in technological knowledge ?
A A farmer sends his child to agricultural college and the child returns to work on the farm
B A farmer hires another day laborer
C A farmer buys another tractor
D A farmer discovers that it is better to plant in the spring rather than in the fall
Correct Answer: A farmer discovers that it is better to plant in the spring rather than in the fall
Thomas Malthus argued that ?
A none of these answers
B an ever-increasing population is constrained only by the food supply resulting in chronic faminies
C technological progress will continuously generate improvement in productivity and living standards.
D labor is the only true factor of production
Correct Answer: an ever-increasing population is constrained only by the food supply resulting in chronic faminies
Copper is an example of ?
A a renewable natural resource
B physical capital
C technology
D a non-renewable natural resource
Correct Answer: a non-renewable natural resource
Which of the following statements is true ?
A Countries all have the same growth rate and level of output because any country can obtain the same factors of production
B Countries have great variance in both the level and growth rate of GDP/person thus poor countries can become relatively rich over time
C Countries may have different level of GDP/person but they all grow at the same reate
D Countries may have a different growth rate but they all have the same level of GDP/person
Correct Answer: Countries have great variance in both the level and growth rate of GDP/person thus poor countries can become relatively rich over time
The opportunity cost of growth is ?
A a reduction in current investment
B a reduction in current consumption
C a reduction in taxes
D a reduction in current saving
Correct Answer: a reduction in current consumption
When a national has very little GDP per person ?
A it is doomed to being relatively poor forever
B none of these answers
C an increase in capital will likely have little impact on output
D it has the potential to grow relatively quickly due to the “catch-up-effect”
Correct Answer: it has the potential to grow relatively quickly due to the “catch-up-effect”
A reasonable measure of the standard of living in a country is ?
A real GDP per person
B nominal GDP per person.
C Real GDP
D The growth rate of nominal GDP per person
Correct Answer: real GDP per person
Which of the following is TRUE about gender and business world ?
A There are more women than men in U.S business because of the aspirations of U.S girls
B There are relatively few women in U.S business partly because of female socialization
C LDC businesswomen have a better chance than men of getting credit from bankers and suppliers
D Businesswomen in India are viewed as naturally stronger, less emotional more socially adept and more rational than businessmen
Correct Answer: There are relatively few women in U.S business partly because of female socialization
According to Weber’s thesis ?
A Protestants disapproved of accumulating wealth
B Protestants failed to restrict extravagance and conspicuous consumption
C Roman Catholicism expressed its asceticism in a secular vocation
D capitalism was most advanced in Protestant countries
Correct Answer: capitalism was most advanced in Protestant countries
The Protestant Ethic and the Spirit of Capitalism was written by ?
A Adam Smith
B Max Weber
C Joseph Schumpeter
D William Baumol
Correct Answer: Max Weber
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