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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

Pakistan’s Gross Domestic Product (in contrast to Gross National Product) measures the production and income of ?
A Pakistan -owned firms no matter where they are located in the world
B The domestic manufacturing sector only
C The domestic service sector only
D People and factories located within the borders of the Pakistan
Correct Answer: The domestic manufacturing sector only
Which of the following would be excluded from UK GDP fro 2005? The sale of ?
A a haircut
B the value of a lawyer’s services
C a 2005 Honda made in Swindon
D All of things mentioned in these answers should be counted in 2005 GDP.
Correct Answer: a haircut
An example of a transfer payment is ?
A Profit
B rent
C unemployment benefits
D government purchases
Correct Answer: unemployment benefits
In a recession a government ?
A Is likely to want to decrease demand in the economy
B Is likely to want to decrease demand in the economy
C Is likely to want to stabilise demand in the economy
D Is likely to want to increase supply in the economy
Correct Answer: Is likely to want to increase supply in the economy
Based on the 2010 population survey four of the five most populous countries include ?
A Russia, Pakistan Bangladesh and Nigeria
B China, India, Indonesia, and Brazil
C Russia, China, India, and South Africa
D China, Russia, Mexico, and Indonesia
Correct Answer: China, India, Indonesia, and Brazil
ASEAN refers to the ?
A Association of South East Argo Nations
B Association of South East Asian Nations
C Alliance of South East Asian Neighbors
D Alliance of South Eastern African Nations
Correct Answer: Association of South East Asian Nations
Two countries that still rely on the Soviet communist model of development are ?
A Ghana and Nigeria
B Poland and Germany
C Cuba and North Korea
D China and Hong Kong
Correct Answer: Cuba and North Korea
Which two countries have enjoyed a real per capita growth rate of more than 7% yearly since the 1960s ?
A Ghana and Mexico
B Canada and the United States
C Sierra Leone and Nigeria
D Taiwan and South Korea
Correct Answer: Taiwan and South Korea
Why has modern economic growth mainly been in western countries ?
A a strong Catholic church intervention in the economic decisions
B an emphasis on trade restrictions
C the use of the medieval economy
D the rise of capitalism
Correct Answer: the rise of capitalism
More than seventy percent of the population of fast g: owers lives in ?
A China
B United States
C Russia
D Europe
Correct Answer: China
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