Economics MCQs

Option A: 1978

Option B: 1988

Option C: 1998

Option D: 2000

Correct Answer: 1998 ✔

Option A: 1858

Option B: 1869

Option C: 1881

Option D: 1901

Correct Answer: 1881 ✔

Option A: K.P.K

Option B: Punjab

Option C: Baluchistan

Option D: Sindh

Correct Answer: Baluchistan ✔

Option A: Urdu

Option B: Panjabi

Option C: Sindhi

Option D: Pushto

Correct Answer: Panjabi ✔

Option A: Agriculture

Option B: Industry

Option C: Trade

Option D: Civil Service

Correct Answer: Civil Service ✔

Option A: K.P.K

Option B: Sindh

Option C: Punjab

Option D: Baluchistan

Correct Answer: Sindh ✔

Option A: 630

Option B: 780

Option C: 882

Option D: 990

Correct Answer: 882 ✔

Option A: 18 per sq. Km

Option B: 28 per sq. Km

Option C: 39 per sq. Km

Option D: 59 per sq. Km

Correct Answer: 18 per sq. Km ✔

Option A: 212 per sq. Km

Option B: 239 per sq. Km

Option C: 270 per sq. Km

Option D: 305 per sq. Km

Correct Answer: 212 per sq. Km ✔

A. 8%
B. 12%
C. 16%
D. 18%

Option A: Baluchistan

Option B: Punjab

Option C: K.P.K

Option D: Sindh

Correct Answer: Punjab ✔

Option A: 30.5 per 1000

Option B: 35.4 per 1000

Option C: 32.5 per 1000

Option D: 31.8 per 1000

Correct Answer: 30.5 per 1000 ✔

Option A: 1.8%

Option B: 2.7%

Option C: 2.6%

Option D: 2.9%

Correct Answer: 1.8% ✔

Option A: 10%

Option B: 8%

Option C: 9%

Option D: 4%

Correct Answer: 4% ✔

Option A: 25%

Option B: 22%

Option C: 23%

Option D: 28%

Correct Answer: 23% ✔

Option A: 49%

Option B: 50%

Option C: 46%

Option D: 52%

Correct Answer: 46% ✔

Option A: 8.5%

Option B: 9.6%

Option C: 6.6%

Option D: 7.8%

Correct Answer: 6.6% ✔

Option A: 164 persons per square KM

Option B: 185 persons per square KM

Option C: 150 persons per square KM

Option D: 158 persons per square KM

Correct Answer: 164 persons per square KM ✔

Option A: 61.8%

Option B: 67.5%

Option C: 59.6%

Option D: 74.8%

Correct Answer: 67.5% ✔

Option A: Punjab

Option B: K.P.K

Option C: Azad Kashmir

Option D: Sindh

Correct Answer: Punjab ✔

Option A: 60 infant

Option B: 70 infant

Option C: 100 infant

Option D: 120 infant

Correct Answer: 70 infant ✔

Option A: 2.61%

Option B: 3.70%

Option C: 3.90%

Option D: 4.10%

Correct Answer: 2.61% ✔

Option A: 1948

Option B: 1951

Option C: 1959

Option D: 1961

Correct Answer: 1951 ✔

Option A: Ten years

Option B: Fifteen years

Option C: Twenty years

Option D: Twenty-five years

Correct Answer: Ten years ✔

Option A: 38%

Option B: 48%

Option C: 58%

Option D: 68%

Correct Answer: 48% ✔

Option A: 45%

Option B: 55%

Option C: 65%

Option D: 70%

Correct Answer: 45% ✔

Option A: Industry

Option B: Agriculture

Option C: Trade

Option D: Mines

Correct Answer: Agriculture ✔

Option A: 115

Option B: 170

Option C: 190

Option D: 230

Correct Answer: 115 ✔

Option A: Punjab

Option B: FATA

Option C: Islamabad

Option D: Sindh

Correct Answer: Islamabad ✔

Option A: 196 per sq. Km

Option B: 235 per sq. Km

Option C: 270 per sq. Km

Option D: 291 per sq. Km

Correct Answer: 235 per sq. Km ✔

Option A: 211 per sq. Km

Option B: 270 per sq. Km

Option C: 305 per sq. Km

Option D: 353 per sq. Km

Correct Answer: 353 per sq. Km ✔

Option A: Punjab

Option B: K.P.K

Option C: Baluchistan

Option D: Sindh

Correct Answer: Sindh ✔

Option A: 2.42 million

Option B: 2.82 million

Option C: 2.76 million

Option D: 2.65 million

Correct Answer: 2.42 million ✔

Option A: 6.4 per 1000

Option B: 8.6 per 1000

Option C: 9.8 per 1000

Option D: 5.6 per 1000

Correct Answer: 8.6 per 1000 ✔

Option A: 2.8%

Option B: 2.3%

Option C: 2.7%

Option D: 2.6%

Correct Answer: 2.3% ✔

Option A: 50%

Option B: 45%

Option C: 48%

Option D: 55%

Correct Answer: 50% ✔

Option A: Islamabad

Option B: Punjab

Option C: Sindh

Option D: FATA

Correct Answer: Islamabad ✔

Option A: 15.5%

Option B: 13.4%

Option C: 14.8%

Option D: 12.7%

Correct Answer: 13.4% ✔

Option A: 60.4%

Option B: 55.5%

Option C: 65.5%

Option D: 68.4%

Correct Answer: 55.5% ✔

Option A: 38.6%

Option B: 42.6%

Option C: 41.0%

Option D: 32.5%

Correct Answer: 32.5% ✔

Option A: 142.5 million

Option B: 148.5 million

Option C: 151.0 million

Option D: 145.4 million

Correct Answer: 142.5 million ✔

Option A: 8th

Option B: 10th

Option C: 11th

Option D: 6th

Correct Answer: 6th ✔

Option A: I and III only

Option B: II and III only

Option C: I, II and III only

Option D: I, II, III and IV

Correct Answer: I, II, III and IV ✔

Option A: high-yielding varieties (HYVs) of grains

Option B: Polio and small-pox vaccinations.

Option C: the campaign against river blindness

Option D: the drilling of oil in the Arctic

Correct Answer: Polio and small-pox vaccinations. ✔

Option A: Boys as young as 8 years old tend or herd animals, weed pick and sell produce

Option B: Children place more economic demands on a peasant family than an urban family

Option C: Major financial security is usually provided by sons

Option D: The cost of education entertainment and travel is low

Correct Answer: Children place more economic demands on a peasant family than an urban family ✔

Option A: The total number of children born in a country in given year a divided by labor force

Option B: The number of children born to the average woman during her reproductive years.

Option C: The number of births in a country divided by total population in a given year.

Option D: The number of woman age 15-45 in a country divided by total population

Correct Answer: The number of children born to the average woman during her reproductive years. ✔

Option A: the agribusiness revolution

Option B: farming system theory

Option C: the Green Revolution

Option D: Agri-R&D

Correct Answer: the Green Revolution ✔

Option A: population self-sufficiency and constant economic growth

Option B: low fertility and mortality

Option C: a laissez-faire population policy

Option D: a constant returns to scale production function

Correct Answer: a laissez-faire population policy ✔

Option A: The World Bank

Option B: Thomas Robert Malthus

Option C: Julian Simon

Option D: Abraham Lincoin

Correct Answer: Thomas Robert Malthus ✔

Option A: increasing at an increasing rate

Option B: decreasing

Option C: zero

Option D: 100%

Correct Answer: zero ✔

Option A: labor force participation rate

Option B: per capita population ratio

Option C: dependency ratio

Option D: None of these

Correct Answer: dependency ratio ✔

Option A: reduce yield losses by pests while minimizing the negative effects of pest control

Option B: have year-round plantings of a single crop

Option C: undertake monoculture pest planning

Option D: encompass biological control through fertilizers

Correct Answer: reduce yield losses by pests while minimizing the negative effects of pest control ✔

Option A: I only

Option B: I and II only

Option C: III and IV only

Option D: Iv only

Correct Answer: I only ✔

Option A: supported the Club of Rome’s Limits to Growth for estimating technical change

Option B: assumed that population growth causes technological progress

Option C: used the second law of thermodynamics to assume that technological progress is costless

Option D: assumed the classical view of technological change 6

Correct Answer: assumed the classical view of technological change 6 ✔

Option A: a decline in fertility

Option B: The demographic transition from stage 3 to stage 2

Option C: increases in the ratio of labor to capital

Option D: an increase in the dependency ratio

Correct Answer: a decline in fertility ✔

Option A: 40%

Option B: 10%

Option C: 80%

Option D: 0.10%

Correct Answer: 40% ✔

Option A: increased proportionally to economic growth

Option B: increased geometrically, outstripping food supply which grew arithmetically

Option C: increased stagnantly with food supply and economic development

Option D: increased disproportionately surpassing agricultural production

Correct Answer: increased geometrically, outstripping food supply which grew arithmetically ✔

Option A: 80%

Option B: 50%

Option C: 25%

Option D: 35%

Correct Answer: 80% ✔

Option A: increasing returns to natural resources with a direct impact on average food consumption

Option B: increased urbanization and congestion

Option C: a higher labor force growth rate and higher unemployment

Option D: a working population that must support a large number of dependents

Correct Answer: increasing returns to natural resources with a direct impact on average food consumption ✔

Option A: 10%

Option B: 0.002%

Option C: 2%

Option D: 0.5%

Correct Answer: 0.002% ✔

Option A: demographic transition

Option B: population maturity

Option C: demobilizing population

Option D: birth-death transformation

Correct Answer: demographic transition ✔

Option A: Indonesia’s Badan Kredit Kecamatan (BKK)

Option B: the Association for Development of Microenterprice

Option C: Bangladesh’s Grameen Bank

Option D: the Enterprice credit program in Kolkata

Correct Answer: the Enterprice credit program in Kolkata ✔

Option A: the percentage increase in the consumption growth of the poor divided by percentage increase in the consumption growth of the nonpoor

Option B: the percentage increase in the poor times percentage increase in the nonpoor

Option C: the percentage increase in the poverty of the poor divided by percentage increase in the poverty of the nonpoor

Option D: the percentage increase in the poor people in the Urban divided by percentage increase in the nonpoor in the urban

Correct Answer: the percentage increase in the consumption growth of the poor divided by percentage increase in the consumption growth of the nonpoor ✔

Option A: production possibility curve

Option B: marginal inequality curve

Option C: sen curve

Option D: Lorenz curve

Correct Answer: Lorenz curve ✔

Option A: individuals’ accomplishments

Option B: individuals’ capabilities

Option C: individuals’ wealth

Option D: individuals’ education

Correct Answer: B. individuals’ capabilities ✔

Option A: 50

Option B: 100

Option C: 1000

Option D: 5

Correct Answer: 50 ✔

Option A: quientiles

Option B: percentiles

Option C: simulation

Option D: relative ratio measures

Correct Answer: simulation ✔

Option A: patterns of poverty between developed and developing countries

Option B: the change in GDP per capita over time

Option C: the poorest’s income shares fall in the early stages of growth

Option D: income concentration relative to a 45-degree line

Correct Answer: patterns of poverty between developed and developing countries ✔

Option A: 0

Option B: 2

Option C: 6

Option D: 0.5

Correct Answer: 2 ✔

Option A: low inequality

Option B: maximum inequality

Option C: 10/10 000% inequality

Option D: 1% inequality

Correct Answer: maximum inequality ✔

Option A: absolute poverty

Option B: economic growth

Option C: relative poverty

Option D: standard of living

Correct Answer: relative poverty ✔

Option A: Income inequality

Option B: Absolute poverty

Option C: sen’s poverty index

Option D: purchasing power poverty

Correct Answer: Absolute poverty ✔

Option A: I and II only

Option B: III and IV only

Option C: I, II and III only

Option D: I, II and IV

Correct Answer: I, II and IV ✔

Option A: The tax burden generated from a tax placed on a good consumer perceive to be a necessity will fall most heavily on the sellers of the good

Option B: The burden of a tax falls on the side of the market (buyers or sellers) from which it is collected

Option C: The distribution of the burden of a tax is determined by the relative elasticities of determined by legislation.

Option D: The tax burden falls most heavily on the side of the market (buyers and sellers) that is most willing to leave the market when price movements are unfavorable to them.

Correct Answer: The distribution of the burden of a tax is determined by the relative elasticities of determined by legislation. ✔

Option A: falls more heavily on sellers

Option B: falls entirely on sellers

Option C: falls more heavily on buyers.

Option D: is evenly distributed between buyers and sellers.

Correct Answer: falls more heavily on buyers. ✔

Option A: the tax burden falls most heavily on the buyers.

Option B: the buyers bear the burden of the tax

Option C: the sellers bear the burden of the tax

Option D: the tax burden on the buyers and sellers in the same as an equivalent tax collected from the sellers

Correct Answer: the tax burden on the buyers and sellers in the same as an equivalent tax collected from the sellers ✔

Option A: demand curve downward by the size of the tax per unit.

Option B: supply curve downward by the size of the tax per unit

Option C: demand curve upward by the size of the tax per unit.

Option D: supply curve upward by the size of the tax per unit

Correct Answer: supply curve upward by the size of the tax per unit ✔

Option A: a teenage worker with few qualifications.

Option B: A manual worker with fifteen years of work experience

Option C: A professional worker with university degree.

Option D: All there are equally likely to find it difficult to get a job

Correct Answer: a teenage worker with few qualifications. ✔

Option A: the minimum wage

Option B: rent controls

Option C: restricting petrol prices to Rs100 per litre when the equilibrium price is Rs150 per litre

Option D: All of these answers are price floors

Correct Answer: the minimum wage ✔

Option A: the buyers

Option B: Neither buyers nor sellers desire a price floor.

Option C: the sellers

Option D: Both buyers and sellers desire a price floor.

Correct Answer: the sellers ✔

Option A: always determines the price at which a good must be sold

Option B: sets a legal maximum on the price at which a good can be sold

Option C: is not a binding constraint if it is set above the equilibrium price

Option D: sets a legal minimum on the price at which a good can be sold

Correct Answer: sets a legal minimum on the price at which a good can be sold ✔

Option A: a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price

Option B: a surplus

Option C: a shortage

Option D: an equilibrium

Correct Answer: a shortage ✔

Option A: Clothing

Option B: food

Option C: housing

Option D: entertainment

Correct Answer: entertainment ✔

Option A: both supply and demand are inelastic

Option B: demand is elastic, and supply are inelastic

Option C: both supply and demand are elastic

Option D: demand is inelastic, and supply is elastic

Correct Answer: demand is inelastic, and supply is elastic ✔

Option A: both supply and demand are elastic

Option B: both supply and demand are inelastic

Option C: demand is inelastic and supply in elastic

Option D: demand is elastic, and supply is inelastic

Correct Answer: demand is elastic, and supply is inelastic ✔

Option A: a decrease in the price buyers pay, an increase in the price sellers receive, and a decrease in the quantity sold

Option B: an increase in the price buyers pay a decrease in the price sellers receive, and an increase in the quantity sold

Option C: a decrease in the price buyers pay, an increase in the price sellers receive and an increase in the quantity sold

Option D: an increase in the price buyers pay a decrease in the price sellers receive and a decrease in the quantity sold

Correct Answer: an increase in the price buyers pay a decrease in the price sellers receive and a decrease in the quantity sold ✔

Option A: supply curve downward by the size of the tax per unit.

Option B: Supply curve upward by the size of the tax per unit

Option C: demand curve upward by the size of the tax per unit.

Option D: demand curve downward by the size of the tax per unit

Correct Answer: demand curve downward by the size of the tax per unit ✔

Option A: A significant increase in the demand for petrol could cause the price ceiling to become a binding constraint.

Option B: A significant increase in the supply for petrol could cause the price ceiling to become a binding constraint.

Option C: There will be a shortage of petrol

Option D: There will be surplus of petrol

Correct Answer: A significant increase in the demand for petrol could cause the price ceiling to become a binding constraint. ✔

Option A: demand is inelastic and supply in elastic

Option B: supply is inelastic, and demand is elastic

Option C: both supply and demand are elastic

Option D: both supply and demand are inelastic

Correct Answer: both supply and demand are elastic ✔

Option A: The shortage created by the price ceiling is greater in the short ran than in the long run.

Option B: The surplus created by the price ceiling is greater in the short run than in the long run

Option C: The surplus created by the price ceiling is greater in the long run than in the short run

Option D: The shortage created by the price ceiling is greater in the long run than in the short run

Correct Answer: The shortage created by the price ceiling is greater in the long run than in the short run ✔

Option A: There may be long lines of buyers waiting for apartments

Option B: Landlords may discriminate among apartment renters

Option C: Landlords may be offered bribes to rent apartments

Option D: there will be a storage of housing

Correct Answer: the quality of apartments will improve ✔

Option A: above the equilibrium price

Option B: below the equilibrium price

Option C: precisely at the equilibrium price

Option D: at any price because all price ceilings are binding constraints

Correct Answer: below the equilibrium price ✔

Option A: Wages rise, and rental rates fall

Option B: Wages rise, and rental rates rise

Option C: Wages fall, and rental rates rise

Option D: Wages fall, and rental rates fall

Correct Answer: Wages rise, and rental rates fall ✔

Option A: left and decreases the wage

Option B: right and decreases the wage

Option C: right and increases the wage

Option D: left and increases the wage

Correct Answer: right and increases the wage ✔

Option A: the wage, the rental price of capital and the rental price of land are all equal

Option B: the marginal product of labor equals zero and the production function is maximized

Option C: the value of the marginal product of labor equals the wage

Option D: the marginal product of labor equals the wage

Correct Answer: the value of the marginal product of labor equals the wage ✔

Option A: Slopes downward because an increase in the production of output reduces the price at which the output can be sold in a competitive market, thereby reducing the value of the marginal producing the value of the marginal product as more of the factor is use

Option B: Slopes downward due to the factor’s diminishing marginal product

Option C: slopes upward due to the factor’s increasing marginal product

Option D: is perfectly elastic (horizontal) if the factor market is perfectly competitive

Correct Answer: B. Slopes downward due to the factor’s diminishing marginal product ✔

Option A: an increase in the rental rate for tractor

Option B: a decrease in the rental rate of farmland

Option C: a decrease in the value of the marginal product of tractors

Option D: an increase in the wage of farm workers

Correct Answer: an increase in the wage of farm workers ✔

Option A: increase the demand for fishing boats and decrease rental rates on fishing boats

Option B: decreases the demand for fishing boats and increase rental rates on fishing boats.

Option C: decreases the value of the marginal product of fishermen, reduces their wage, and increases employment in the fishing industry

Option D: increase the demand for fishing boats and increase rental rates on fishing boats

Correct Answer: decreases the value of the marginal product of fishermen, reduces their wage, and increases employment in the fishing industry ✔

Option A: supply curve of capital

Option B: demand curve for capital

Option C: production function

Option D: marginal cost curve

Correct Answer: demand curve for capital ✔

Option A: cause a reduction is output

Option B: have no effect on output

Option C: increase the marginal product of the factor

Option D: generate ever smaller amounts of output

Correct Answer: generate ever smaller amounts of output ✔