Economics

Online Economics Quiz with answers. There are 20 multiple-choice questions each with four options. The Quiz will help you to prepare PPSC, FPSC, NAT, GAT, and many other testing services. It will also help in preparing for college and university admission and degree examinations. Let us start with the Economics Quiz with Answers.

Economics Quiz with Answers

• “Economics is the Science of Wealth”, who gave this definition?
• “Economics is what economists do”. It has been supported by
• “Human welfare is the subject of Economics”. The statement is associated with the name of which of the economists?
• Who has given a scarcity definition of economics?
• “Economics is a science” The basis of this statement is:
• Characteristics of economic laws are.
• Which opinions have revolutionized the scope of macroeconomics?
• Whose opinions have revolutionized the scope of macroeconomics?
• Which of the following is an economic activity?
• The passive factor of production is
• Under the law of demand
• For inferior commodities, the income effect is
• When total utility becomes maximum, then the marginal utility will be
• Utility means
• Marginal utility is equal to average utility at that time when average utility is
• At the point of satiety, marginal utility is
• Which of the following is the second law of Gosse?
• The total utility of a commodity is measured by which price of the commodity?
• In Economics the central problem is
• Macroeconomics deals with

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The post is about the MCQs Economics Questions with Answers. There are 20 questions in this test. The Quiz will help you to prepare PPSC, FPSC, NAT, GAT, and many other testing services. It will also help in preparing for college and university admission and degree examinations. Let us start with the MCQs Economics Questions.

Please go to Important MCQs Economics Questions 8 to view the test

MCQs Economics Questions with Answers

• The real interest rate will increase
• What would result from a depreciation of the pound on the foreign exchange market?
• The news on television reports that the dollar has strengthened relative to the Japanese yen. This means that
• In Keynesian economics, if aggregate expenditures are less than aggregate output then
• Demand is elastic when the elasticity of demand is
• Which of the following statements is TRUE about cartels?
• After the collision, oligopolists can
• If production remains the same and all prices double, then which of the following will happen?
• The relationship between hours provided by labor and wage rate is
• If the government wishes to achieve a fall in unemployment, which of the following policies should it adopt?
• In the long run, sustained inflation is due to
• The government has a balanced budget if:
• The situation when a country imports more than it exports is known as
• In a period of boom, credit creation is
• What will be the impact of an increase in taxes?
• Suppose the price of rail tickets decreases, what will happen to the demand for airline travel?
• The production possibilities curve will shift upward if there is
• Which of the following is NOT included in the perfect information assumption of perfect competition?
• Suppose a monopolist sets his output at the level where marginal revenue, marginal cost, and average total cost are equal. In this case, economic profit will be
• “An Enquiry into the Nature and Causes of Wealth of Nations” is a book by an economist.

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The post is about the MCQs Economics Quiz with Answers. There are 20 questions in this test. The Quiz will help you to prepare PPSC, FPSC, NAT, GAT, and many other testing services. It will also help in preparing for college and university admission and degree examinations. Let us start with the MCQs Economics Quiz.

Please go to MCQs Economics Quiz 7 to view the test

MCQs Economics Quiz

• Final goods are meant for
• All other things remain the same, Gross Domestic Product (GDP) will rise if
• The traditional Phillips Curve shows the
• Deflation is
• Is Gross Domestic Product (GDP) an accurate measure of a country’s well-being?
• Real Gross Domestic Product (GDP)
• If a war destroys a large portion of a country’s capital stock but the saving rate is unchanged, the exogenous model predicts that output will grow and the new steady state will approach.
• A currency appreciation
• Which of the following statements describes the difference between nominal and real Gross Domestic Product (GDP)?
• After a decrease in the wage, the substitution effect implies that
• A demand curve is price-elastic when
• The numerical measurement of a consumer’s preference is called
• Marginal profit is equal to
• The supply curve for a competitive firm is
• Second-degree price discrimination is the practice of charging
• A market with few entry barriers and with many firms that sell differentiated products is
• The market structures in which strategic considerations are most important are:
• Consumption spending, investment expenditures, government expenditures, and net exports are:
• Classical economics was replaced as the dominant theory of macroeconomic analysis by:
• According to classical economics, the economy will always tend toward full employment due to:

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