Economics

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.

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.

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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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The post is a quiz about economics MCQs with Answers from Basic to Advance. This economics quiz contains 20 multiple-choice questions and will help you with the preparation of Economics MCQs for Lecturer & Subject Specialist Exams. Answer the following multiple-choice questions and press ‘Submit‘ to get your score.

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Economics MCQs with Answers

• The government collects zero revenue if the tax rate is 0%, and if the tax rate is 100% which of the following best describes this statement?
• A tax on the accounting profits of corporations is known as
• If the money supply is fixed by the central bank then in interest rate money supply space, the money supply curve will be:
• Which of the following is TRUE for a Giffen good?
• The Total Cost (TC) function is given as $TC=200+5Q$. What is the fixed cost?
• A good for which income and quantity demanded are inversely related is known as
• An increase in supply is shown by
• The price floor results in
• The price elasticity of demand measures the responsiveness of quantity demanded to
• Indifference curves that are convex to the origin reflect:
• To find the profit-maximizing level of output, a firm finds the output level where:
• As compared to existing firms, a new firm entering in monopolist market has
• A firm charges a different price for each unit a consumer purchases. This is called:
• Welfare economics is the branch of economics which deals with
• Under the kinked demand curve model, an increase in marginal cost will lead to
• Which of the following market situations is much like a pure monopoly except that its member firms tend to cheat on agreed upon price and output strategies?
• In the complete classical model, a rightward shift of the labor supply curve will
• Which of the following events could cause the aggregate demand curve to shift to the right?
• According to the model of aggregate supply and aggregate demand, in the long run, an increase in the money supply should cause.
• Intermediate goods are meant for

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