Economics MCQs

Option A: 1st January 1995

Option B: 1st January 1998

Option C: 1st December 1999

Option D: 1st June 2000

Correct Answer: 1st January 1995 ✔

Option A: 2.5

Option B: 3.9

Option C: 4.2

Option D: None of these

Correct Answer: 3.9 ✔

Option A: Horizontal

Option B: Vertical

Option C: Downward Sloping

Option D: Upward Sloping

Correct Answer: Downward Sloping ✔

Option A: Business by rich people

Option B: Monopoly shared by few large sellers

Option C: Just one supplier of an item

Option D: None of the above

Correct Answer: Monopoly shared by few large sellers ✔

Option A: Standard of Living

Option B: Life Expectancy

Option C: Education

Option D: All

Correct Answer: All ✔

Option A: China

Option B: Germany

Option C: Japan

Option D: United States

Correct Answer: United States ✔

Option A: India

Option B: Canada

Option C: Italy

Option D: Russia

Correct Answer: Russia ✔

Option A: Adam Smith

Option B: David Ricardo

Option C: Malthus

Option D: J. M. Keynes

Correct Answer: Adam Smith ✔

Option A: An Economist

Option B: A scientist

Option C: A philosopher

Option D: None of these

Correct Answer: An Economist ✔

Option A: Issuance of Debt securities

Option B: Issuance of notes and coins

Option C: Dollar Reserves

Option D: All of above

Correct Answer: Issuance of notes and coins ✔

Option A: Equal to 1

Option B: Greater than 1

Option C: Less than 1

Option D: Equal to 0

Correct Answer: Equal to 1 ✔

Option A: Milton-Friedman

Option B: Osborne-Smith

Option C: Zelvey

Option D: Mickel-Jorden

Correct Answer: Milton-Friedman ✔

Option A: Profit

Option B: a change of supply

Option C: a shift to the supply curve

Option D: the law of supply

Correct Answer: the law of supply ✔

Option A: Cost on all products

Option B: Reduced per unit Cost 

Option C: Higher per unit Cost

Option D: None of these

Correct Answer: Reduced per unit Cost  ✔

Option A: If the current accounts is in surplus then the capital account must also be in surplus

Option B: If the current account is in deficit then the capital account must also be in deficit

Option C: The overall sum of all the entries in the balance of payments must be positive

Option D: The overall sum of all entries in the balance of payments must be zero

Correct Answer: The overall sum of all entries in the balance of payments must be zero ✔

Option A: only violent behavior

Option B: only normal behavior

Option C: mental states of individual humans

Option D: groups of people in interaction

Correct Answer: mental states of individual humans ✔

Option A: an equality of trade position

Option B: a favorable balance of trade

Option C: a more open market

Option D: a belief system

Correct Answer: a favorable balance of trade ✔

Option A: granted independence as soon as possible

Option B: Considered an economic burden for the colonial power

Option C: encouraged to develop their own industries

Option D: acquired as markets and sources of raw materials

Correct Answer: acquired as markets and sources of raw materials ✔

Option A: an expansion of China’s colonial empire

Option B: an increase in trade with the West

Option C: a return to a strict command economy

Option D: the success of the commune system

Correct Answer: an increase in trade with the West ✔

Option A: demand of world markets for such crops

Option B: lack of modern agricultural technology

Option C: inadequate supply of water and other natural resources

Option D: peasant ownership of most farmlands

Correct Answer: demand of world markets for such crops ✔

Option A: China’s trade deficit with the United States was very high

Option B: The United States refused to place quotas on Chinese goods

Option C: The United States imported more from China than it exported to China

Option D: China lowered tariffs on goods imported from the United States

Correct Answer: The United States imported more from China than it exported to China ✔

Option A: The Japanese government has place limits on Japanese exports

Option B: Japanese industries spend very little on the research and development of new products

Option C: The Japanese government and Japanese businesses have cooperated with each other

Option D: Japanese citizens save less of their incomes than the citizens of other industrialized nation do

Correct Answer: The Japanese government and Japanese businesses have cooperated with each other ✔

Option A: reduction in spending on military goods leads to economic depression

Option B: dependence on foreign trade usually leads to a weakened national economy

Option C: territorial aggression is not necessary to secure national economic goals

Option D: democratic institution hinder economic growth

Correct Answer: territorial aggression is not necessary to secure national economic goals ✔

Option A: to main peace in the Middle East

Option B: access to the Mediterranean Sea

Option C: to reestablish the Byzantine Empire

Option D: The rich farmland of the Anatolian Plateau

Correct Answer: access to the Mediterranean Sea ✔

Option A: use of strip mining to obtain minerals

Option B: reliance on capitalist economic systems

Option C: lack of access to world markets

Option D: scarcity of water resources

Correct Answer: scarcity of water resources ✔

Option A: Nepal

Option B: Pakistan

Option C: India

Option D: China

Correct Answer: China ✔

Option A: 1000 years

Option B: 15,000 years

Option C: 300 years

Option D: 4000 years

Correct Answer: 4000 years ✔

Option A: lettuce

Option B: broccoli

Option C: cabbage

Option D: onions

Correct Answer: cabbage ✔

Option A: Kiwi

Option B: Strawberry

Option C: Grapefruit

Option D: Peach

Correct Answer: Grapefruit ✔

Option A: Cotton

Option B: Wheat

Option C: Sugarcane

Option D: None of them

Correct Answer: Wheat ✔

Option A: Moral

Option B: Oyster

Option C: Bugouy

Option D: Cremini

Correct Answer: Bugouy ✔

Option A: Australia

Option B: China

Option C: Canada

Option D: Russia

Correct Answer: China ✔

Option A: USA

Option B: Argentina

Option C: China

Option D: Cuba

Correct Answer: Cuba ✔

Option A: Canada

Option B: United States

Option C: Brazil

Option D: Russia

Correct Answer: United States ✔

Option A: India

Option B: Indonesia

Option C: Thailand

Option D: Malysia

Correct Answer: Indonesia ✔

Option A: Wheat

Option B: red gram

Option C: cotton

Option D: black gram

Correct Answer: Wheat ✔

Option A: United States

Option B: Germany

Option C: Russia

Option D: France

Correct Answer: Germany ✔

Option A: United States

Option B: Germany

Option C: Russia

Option D: France

Correct Answer: United States ✔

Option A: mustard

Option B: pepper

Option C: Salt

Option D: basil

Correct Answer: mustard ✔

Option A: Indonesia

Option B: Bangladesh

Option C: Pakistan

Option D: India

Correct Answer: India ✔

Option A: Ghialiangale

Option B: Glalangal

Option C: Ghalingale

Option D: Galangal

Correct Answer: Galangal ✔

Option A: United States

Option B: China

Option C: India

Option D: Brazil

Correct Answer: Brazil ✔

Option A: China

Option B: India

Option C: USA

Option D: Canada

Correct Answer: Canada ✔

Option A: UK

Option B: Australia

Option C: China

Option D: India

Correct Answer: Australia ✔

Option A: India

Option B: Argentina

Option C: United States

Option D: China

Correct Answer: China ✔

Option A: widow marriage

Option B: crimes

Option C: the increasing rate of growth in urban population

Option D: inter-caste marriage

Correct Answer: the increasing rate of growth in urban population ✔

Option A: measure poverty of those below the poverty line

Option B: determine the privileges of the rich

Option C: assess the deprivation of section of population as compared to the others

Option D: assess the minimum food Requirements

Correct Answer: assess the deprivation of section of population as compared to the others ✔

Option A: Geographic location

Option B: Specific size of population

Option C: Specific density of population

Option D: Diversification of occupations

Correct Answer: Specific size of population ✔

Option A: A person

Option B: Type of attitude

Option C: Mid of the way

Option D: population

Correct Answer: population ✔

Option A: Loss of humanistic value

Option B: Impersonal relationship

Option C: informal relationship

Option D: Competition

Correct Answer: informal relationship ✔

Option A: population size

Option B: population density

Option C: population heterogeneity

Option D: All of the above

Correct Answer: All of the above ✔

Option A: Singapore seaport

Option B: Settle seaport

Option C: Rotterdam seaport

Option D: None of these

Correct Answer: Singapore seaport ✔

Option A: internal validity

Option B: face validty

Option C: reliability

Option D: external validity

Correct Answer: external validity ✔

Option A: Canada

Option B: USA

Option C: China

Option D: Russia

Correct Answer: Canada ✔

Option A: 15.8%

Option B: 11.8%

Option C: 10.8%

Option D: 15.4%

Correct Answer: 11.8% ✔

Option A: Indai

Option B: Bhutan

Option C: South Africa

Option D: China

Correct Answer: China ✔

Option A: Dollar

Option B: Dirham

Option C: Peso

Option D: Pound

Correct Answer: Dollar ✔

Option A: Diamonds

Option B: Silver

Option C: Perfumes

Option D: Cereals

Correct Answer: Diamonds ✔

Option A: Iron ore

Option B: Coal

Option C: Mica

Option D: Copper

Correct Answer: Mica ✔

Option A: USA

Option B: Russia

Option C: Mexico

Option D: South Africa

Correct Answer: Mexico ✔

Option A: Iron, gold and silver

Option B: Gold, silver and lead

Option C: Iron, lead and sulphur

Option D: All of the above minerals

Correct Answer: All of the above minerals ✔

Option A: Rubber

Option B: Jute

Option C: Rice

Option D: None of these

Correct Answer: Rice ✔

Option A: Indonesia

Option B: India

Option C: Brazil

Option D: None of these

Correct Answer: Brazil ✔

Option A: Wheat

Option B: Rice

Option C: Gram

Option D: None of these

Correct Answer: Rice ✔

Option A: Red Soil

Option B: Black soil

Option C: Literate soil

Option D: None of these

Correct Answer: Black soil ✔

Option A: Pakistan

Option B: Bangladesh

Option C: India

Option D: SriLanka

Correct Answer: Bangladesh ✔

Option A: Canada

Option B: USA

Option C: China

Option D: Russia

Correct Answer: Canada ✔

Option A: China

Option B: Brazil

Option C: India

Option D: USA

Correct Answer: Brazil ✔

Option A: USA

Option B: India

Option C: Cuba

Option D: Brazil

Correct Answer: India ✔

Option A: Lagos (Nigeria)

Option B: Riyadh (Saudi Arabia)

Option C: Tabriz (Iran)

Option D: Abadan (Iran)

Correct Answer: Abadan (Iran) ✔

Option A: Russia

Option B: China

Option C: Pakistan

Option D: USA

Correct Answer: China ✔

Option A: India

Option B: Japan

Option C: China

Option D: Brazil

Correct Answer: Japan ✔

Option A: Australia

Option B: Argentina

Option C: China

Option D: Cuba

Correct Answer: China ✔

Option A: mothers

Option B: infants

Option C: both a & b

Option D: not a nor b

Correct Answer: both a & b ✔

Option A: 1950

Option B: 1800

Option C: 1900

Option D: 2510

Correct Answer: 1900 ✔

Option A: India

Option B: Indonesia

Option C: Thailand

Option D: Malaysia

Correct Answer: Malaysia ✔

Option A: Alkaline

Option B: Acidic

Option C: Waterlogged

Option D: None of these

Correct Answer: Alkaline ✔

Option A: Cotton

Option B: Wheat

Option C: Barley

Option D: Sugarcane

Correct Answer: Sugarcane ✔

Option A: Sweden

Option B: Australia

Option C: Netherlands

Option D: Switzerland

Correct Answer: Netherlands ✔

Option A: Netherlands

Option B: Norway

Option C: Switzerland

Option D: Peru

Correct Answer: Peru ✔

Option A: India

Option B: Indonesia

Option C: Thailand

Option D: Malaysia

Correct Answer: India ✔

Option A: United States

Option B: Germany

Option C: Russia

Option D: France

Correct Answer: Russia ✔

Option A: Arabia Sea

Option B: Mediterranean sea

Option C: North West Pacific Ocean

Option D: East China Sea

Correct Answer: North West Pacific Ocean ✔

Option A: 51%

Option B: 62%

Option C: 55.5%

Option D: 58.6%

Correct Answer: 58.6% ✔

Option A: Pakistan

Option B: Russia

Option C: USA

Option D: Australia

Correct Answer: Australia ✔

Option A: Three

Option B: Four

Option C: Six

Option D: Eight

Correct Answer: Four ✔

Option A: Mustard

Option B: Pepper

Option C: Sald

Option D: Basil

Correct Answer: Mustard ✔

Option A: French Guiana

Option B: Suriname

Option C: Solomon Islands

Option D: Gabon

Correct Answer: Solomon Islands ✔

Option A: Indonesia

Option B: Bangladesh

Option C: Pakistan

Option D: India

Correct Answer: India ✔

Option A: French Guiana

Option B: Surinam

Option C: Solomon Islan

Option D: Gabon

Correct Answer: Surinam ✔

Option A: China

Option B: Indonesia

Option C: United States

Option D: Brazil

Correct Answer: Indonesia ✔

Option A: USA

Option B: Argentina

Option C: China

Option D: Cuba

Correct Answer: USA ✔

Option A: Canada

Option B: United States

Option C: Brazil

Option D: Russia

Correct Answer: Russia ✔

Option A: Indonesia

Option B: India

Option C: Brazil

Option D: None of these

Correct Answer: Brazil ✔

Option A: USA

Option B: India

Option C: China

Option D: Canada

Correct Answer: China ✔

Option A: China

Option B: Indonesia

Option C: United States

Option D: Brazil

Correct Answer: China ✔

Option A: United kingdom

Option B: Australia

Option C: China

Option D: India

Correct Answer: Australia ✔

Option A: India

Option B: Argentina

Option C: United States

Option D: China

Correct Answer: United States ✔

Option A: India

Option B: Argentina

Option C: United States

Option D: China

Correct Answer: India ✔

Option A: Brazil

Option B: Sri Lanka

Option C: pakistan

Option D: None of these

Correct Answer: Brazil ✔