MCQs

Economics MCQs with Explanations

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691EconomicsMedium

Annual GNP growth of 6% poverty reduced by 1% point of the population Balance of payments deficit not in excess of $200 million For a planner, the above are?

Atarget variables

Brecurrent expenditures

Cbound by soft budget

Dachieved only through socialism

Correct answer

A. target variables

Explanation

The correct answer is target variables.

692EconomicsMedium

If a production function exhibits diminishing marginal product. its slope?

Acould be any of these answers

Bbecomes steeper as the quantity of the input increase

Cis linear (a straight line)

Dbecomes flatter as the quantity of the input increase

Correct answer

D. becomes flatter as the quantity of the input increase

Explanation

The correct answer is becomes flatter as the quantity of the input increase.

693EconomicsMedium

The newest challenge to the family,s formerly exclusive claim to the socialization of its children has come from?

Athe day-care center

Bchild psychotherapy

Cthe mass media

Dthe peer groups

Correct answer

A. the day-care center

Explanation

The correct answer is the day-care center.

694EconomicsMedium

The most industrialized country in Asia is?

ASouth Korea

BJapan

CMalaysia

DTaiwan

Correct answer

B. Japan

Explanation

The correct answer is Japan.

695EconomicsMedium

The difference between a country’s balance of payments and its balance of international indebtedness?

Areflects statistical discrepancies

Bis equal to official reserve transactions

Creflects the difference between flow and stock concepts

Doccurs because of foreign exchange fluctuations

Correct answer

C. reflects the difference between flow and stock concepts

Explanation

The correct answer is reflects the difference between flow and stock concepts.

696EconomicsMedium

One classification of development levels used by the World Bank divides countries into three group on the basis of GNP per capita They are?

ASoutheast Northeast and Southwest

BNIC, OPEC and G7

CAsia, America and Europe

DLow income, middle income and high income

Correct answer

D. Low income, middle income and high income

Explanation

The correct answer is Low income, middle income and high income.

697EconomicsMedium

Space Satellite Badr II was launched on December 10, 2001 when Pakistan launched Pak Sat I?

ADecember 25, 2002

BDecember 29, 2002

CFebruary 15, 2003

DJanuary 25, 2003

Correct answer

D. January 25, 2003

Explanation

The correct answer is January 25, 2003.

698EconomicsMedium

Domestic producers gain ________ because on the tariff?

A$75,000

B$50,000

C$120,000

D$150,000

Correct answer

A. $75,000

Explanation

The correct answer is $75,000.

699EconomicsMedium

In which of the following countries would you expect material lifestyles to be most like those in the United States?

AMali

BNigeria

CJapan

DIndia

Correct answer

C. Japan

Explanation

The correct answer is Japan.

700EconomicsMedium

What is the share of Punjab in the total population of Pakistan?

A68.4%

B60.4%

C65.5%

D55.5%

Correct answer

D. 55.5%

Explanation

The correct answer is 55.5%.

If a production function exhibits diminishing marginal product. its slope?

Acould be any of these answers

Bbecomes steeper as the quantity of the input increase

Cis linear (a straight line)

Dbecomes flatter as the quantity of the input increase

Correct answer

D. becomes flatter as the quantity of the input increase

Explanation

The correct answer is becomes flatter as the quantity of the input increase.

The difference between a country’s balance of payments and its balance of international indebtedness?

Areflects statistical discrepancies

Bis equal to official reserve transactions

Creflects the difference between flow and stock concepts

Doccurs because of foreign exchange fluctuations

Correct answer

C. reflects the difference between flow and stock concepts

Explanation

The correct answer is reflects the difference between flow and stock concepts.