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Economics MCQs with Explanations

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2651EconomicsMedium

Refer to Exhibit 4. Which of the following is true with regard to the burden of the tax in Exhibit 4?

AThe sellers pay a larger portion of the tax because supply is more inelastic than demand

BThe buyers pay a larger portion of the tax because demand is more inelastic than supply

CThe sellers pay a larger portion of the tax because supply is more elastic than demand

DThe buyers pay a larger portion of the tax because demand is more elastic then supply

Correct answer

A. The sellers pay a larger portion of the tax because supply is more inelastic than demand

Explanation

The correct answer is The sellers pay a larger portion of the tax because supply is more inelastic than demand.

2652EconomicsMedium

Which of the following is the Prevalent public health problem has been observed in the country?

Aanemia deficiency

Biron deficiency

CJaundice

DVitamin A deficiency

Correct answer

A. anemia deficiency

Explanation

The correct answer is anemia deficiency.

2653EconomicsMedium

Reproduction outside the family________?

Ahas not been positively sanctioned in any society

Bcannot occur

Creflects the norms and values of Pakistan society

Dis considered a sin by all religions of the world

Correct answer

A. has not been positively sanctioned in any society

Explanation

The correct answer is has not been positively sanctioned in any society.

2654EconomicsMedium

The “invisible hand” refers to________?

Athe belief God exhibited by the Puritans

Bthe fact that prayer results in help

Ca belief in ghosts prevalent in the early Middle Ages

Da feature of Adam Smith,s Wealth of Nations

Correct answer

D. a feature of Adam Smith,s Wealth of Nations

Explanation

The correct answer is a feature of Adam Smith,s Wealth of Nations.

2655EconomicsMedium

If interest rates rise then costs are likely to and demand is likely to ?

Afall; fall

Brise; rise

Crise, fall

Dfall; rise

Correct answer

C. rise, fall

Explanation

The correct answer is rise, fall.

2656EconomicsMedium

The nation that social institutions reinforce and legitimize class division is derived from________?

AKarl Marx

BAdam Smith

CMax Weber

DEmile Durkheim

Correct answer

A. Karl Marx

Explanation

The correct answer is Karl Marx.

2657EconomicsMedium

Craft unions differed from industrial unions in that they________?

AWere socialist

BAll of the above

CWelcomed minorities

DWere horizontally organized

Correct answer

D. Were horizontally organized

Explanation

The correct answer is Were horizontally organized.

2658EconomicsMedium

An increase in national income is likely to?

AWorsen the balance of trade

BDecrease tax receipts

CAutomatically cause an increase in government spending

Dcauses an increase in injections into the economy

Correct answer

B. Decrease tax receipts

Explanation

The correct answer is Decrease tax receipts.

2659EconomicsMedium

In marketing “USP” stands for?

AUnderlying Sales Proposition

BUnique Selling Proposition

CUnder Sales Procedure

DUnit Sales Point

Correct answer

B. Unique Selling Proposition

Explanation

The correct answer is Unique Selling Proposition.

2660EconomicsMedium

What was the third sheep producing country?

AIndia

BEngland

CAustralia

DChina

Correct answer

A. India

Explanation

The correct answer is India.

Refer to Exhibit 4. Which of the following is true with regard to the burden of the tax in Exhibit 4?

AThe sellers pay a larger portion of the tax because supply is more inelastic than demand

BThe buyers pay a larger portion of the tax because demand is more inelastic than supply

CThe sellers pay a larger portion of the tax because supply is more elastic than demand

DThe buyers pay a larger portion of the tax because demand is more elastic then supply

Correct answer

A. The sellers pay a larger portion of the tax because supply is more inelastic than demand

Explanation

The correct answer is The sellers pay a larger portion of the tax because supply is more inelastic than demand.

Reproduction outside the family________?

Ahas not been positively sanctioned in any society

Bcannot occur

Creflects the norms and values of Pakistan society

Dis considered a sin by all religions of the world

Correct answer

A. has not been positively sanctioned in any society

Explanation

The correct answer is has not been positively sanctioned in any society.

The “invisible hand” refers to________?

Athe belief God exhibited by the Puritans

Bthe fact that prayer results in help

Ca belief in ghosts prevalent in the early Middle Ages

Da feature of Adam Smith,s Wealth of Nations

Correct answer

D. a feature of Adam Smith,s Wealth of Nations

Explanation

The correct answer is a feature of Adam Smith,s Wealth of Nations.

Economics MCQs with Explanations

Refer to Exhibit 4. Which of the following is true with regard to the burden of the tax in Exhibit 4?

Which of the following is the Prevalent public health problem has been observed in the country?

Reproduction outside the family________?

The “invisible hand” refers to________?

If interest rates rise then costs are likely to ________ and demand is likely to ________?

The nation that social institutions reinforce and legitimize class division is derived from________?

Craft unions differed from industrial unions in that they________?

An increase in national income is likely to?

In marketing “USP” stands for?

What was the third sheep producing country?

Economics MCQs with Explanations

Refer to Exhibit 4. Which of the following is true with regard to the burden of the tax in Exhibit 4?

Which of the following is the Prevalent public health problem has been observed in the country?

Reproduction outside the family________?

The “invisible hand” refers to________?

If interest rates rise then costs are likely to ________ and demand is likely to ________?

The nation that social institutions reinforce and legitimize class division is derived from________?

Craft unions differed from industrial unions in that they________?

An increase in national income is likely to?

In marketing “USP” stands for?

What was the third sheep producing country?

If interest rates rise then costs are likely to and demand is likely to ?

If interest rates rise then costs are likely to and demand is likely to ?