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Economics MCQs with Explanations

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1601EconomicsMedium

In monopolistic competition firms achieve some degree of market power?

Aby producing differentiated products

Bbecause of barriers to exit from the industry

Cbecause of barriers to entry into the industry

Dby virtue of size alone

Correct answer

A. by producing differentiated products

Explanation

The correct answer is by producing differentiated products.

1602EconomicsMedium

The major advantage of survey research is its?

Aorganization

Bstructure

Csimplicity

Dflexibility

Correct answer

D. flexibility

Explanation

The correct answer is flexibility.

1603EconomicsMedium

Growth maximization is the same as?

Amaximization the growth of sales revenue.

BSales maximization

Csales revenue maximization

Dlong-run profit maximization.

Correct answer

A. maximization the growth of sales revenue.

Explanation

The correct answer is maximization the growth of sales revenue..

1604EconomicsMedium

Dynamic gains from trade could result from?

AAll of the above

BThe stimulus of additional investment spending as market open

CAdditional competition made possible by the opening of markets

DEconomies of large scale production as markets open

Correct answer

A. All of the above

Explanation

The correct answer is All of the above.

1605EconomicsMedium

Economic policies do not work as well as they should because of obstacles posed by________?

Aimplementation

Btiming

Cinterpretation

Dall of the above

Correct answer

D. all of the above

Explanation

The correct answer is all of the above.

1606EconomicsMedium

Industry is the second largest sector of the economy. How much of GDP it accounts for?

A16.5%

B18.2%

C20.5%

D19.7%

Correct answer

B. 18.2%

Explanation

The correct answer is 18.2%.

1607EconomicsMedium

The death rate of infant rate per thousand in Pakistan is?

A120 infant

B60 infant

C70 infant

D100 infant

Correct answer

C. 70 infant

Explanation

The correct answer is 70 infant.

1608EconomicsMedium

Studies have found that________?

Anot all abused children go on to abuse their own children

Ball of the above

Cvictims of child abuse become troubled adults

Dthe more severe the abuse the more extreme the later psychiatric symptoms

Correct answer

B. all of the above

Explanation

The correct answer is all of the above.

1609EconomicsMedium

Which of the following statements about money is not true?

AA debit card is not really money because it is only a means of transferring money between accounts

BWealth held in the current account you hold with your bank is almost as convenient for buying things as wealth held in your wallet so the wealth in current accounts should be included in measures of money

CAll the wealth that people hold, in whatever form, should be considered as money

DIn a complex economy it is not easy to draw a clear dividing line between assets that should be considered as money and those that should not

Correct answer

C. All the wealth that people hold, in whatever form, should be considered as money

Explanation

The correct answer is All the wealth that people hold, in whatever form, should be considered as money.

1610EconomicsMedium

When banks prepare their balance sheets. They show the money lent in?

AAssets

BLiability

CBoth assets and liabilities

DNone

Correct answer

A. Assets

Explanation

The correct answer is Assets.

Which of the following statements about money is not true?

AA debit card is not really money because it is only a means of transferring money between accounts

CAll the wealth that people hold, in whatever form, should be considered as money

DIn a complex economy it is not easy to draw a clear dividing line between assets that should be considered as money and those that should not

Correct answer

C. All the wealth that people hold, in whatever form, should be considered as money

Explanation

The correct answer is All the wealth that people hold, in whatever form, should be considered as money.