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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

Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?
A decrease in the demand for unskilled workers because of increases in technology and increases in international trade
B increase in the number of unskilled workers available due to immigration into the UK.
C decrease in the demand for unskilled workers are more poorly educated
D increase in the number of unskilled workers available because workers are more poorly educated
Correct Answer: decrease in the demand for unskilled workers because of increases in technology and increases in international trade
In a competitive market, which of the following is least, likely to be the source of a persistent discriminatory wage differential ?
A All of these answers could be source of a persistent discriminatory wage differential
B the customer
C the government
D the employer
Correct Answer: the employer
Which of the following is not part of a worker’s human capital ?
A education
B experience
C all of these answers are parts of a worker’s human capital
D effort
Correct Answer: effort
If a person who works in coal mine gets paid more than a person with a similar background and skills who works in a safer job, then ?
A coal miners must have greater human capital than others
B we have observed a compensating differential
C coal miners must be more attractive than other workers
D we have evidence of discrimination against workers outside the coal mine
Correct Answer: we have observed a compensating differential
If a person can be prevented from using a good, the good is said to be ?
A excludable
B a common resource
C a public goods
D rival
Correct Answer: excludable
Which of the following is an example of a common resource ?
A a firework displays
B national defense
C iron one
D a national park
Correct Answer: a national park
A negative externality affect market efficiency in a manner similar to ?
A an excludable good.
B a private good
C a common resource
D a public good.
Correct Answer: a common resource
A positive externality affects market efficiency in a manner similar to a ?
A rival good
B public good
C private good
D common resource
Correct Answer: public good
A free rider is a person who ?
A receives the benefits of a good but avoids paying for it.
B pays for a good but fails to receive any benefit from the good
C fails to produce goods but is allowed to consume goods.
D produces a good but fails to receive payment for the good
Correct Answer: receives the benefits of a good but avoids paying for it.
Public goods are difficult for a private market to provide due to ?
A the rivalness problem
B the public goods problem
C the Tragedy of the Commons.
D The free-rider problem.
Correct Answer: The free-rider problem.
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