What is needed to determine the correct level of GNP?
Correct answer D. Add up the values of goods and services for one year
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Economics MCQs
Page 105 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 105 of 131
- Miscellaneous Economics 737
- Basic of Economics 430
- Markets, Efficiency And The Public Interest 167
- Agriculture & Irrigation System of Pakistan 126
- Market 87
- Macroeconomic Issues and Analysis 75
- Money, Interest Rates And Output 73
- Introduction To Economics 70
- Population And Development 62
- Profit Maximizing Under Perfect Competition And Monopoly 56
- Income Inequality 52
- Non-Tariff Trade Barriers 48
- Aggregate Supply, Unemployment And Inflation 45
- Natural Resources and the Environment Toward Sustainable Development 44
- Costs , Supply And Perfect Competition 44
- Human Capital 42
- Labour Market 39
- Monopoly 35
- Long Term Economic Growth 30
- Inflation & Productivity 30
- Regional Trading Arrangements 29
- Characteristics and Institutions of Developing Countries 24
- Oligopoly 23
- Consumer Theory vs. Real Consumers 20
- Applied Microeconomics 20
- Alternative Theories Of The Firm 20
- Public Goods 20
- Balance of Payments, Aid and Foreign Investment 19
- Prices, Wages & Taxes 19
- Comparative GDP 19
- Budget Deficits And The Trade Balance 18
- Macroeconomic Policy Tools 18
- Asymmetric Information 17
- Application of Economics 16
- Production Factors 16
- Monopoly & Competition 15
- Capital Formation, Investment Choice, Information Technology, And Technical Progress 15
- Monetary, Fiscal And Incomes Policy, And Inflation 15
- Average And Total Cost 14
- Poverty, Malnutrition, And Income Inequality 12
- Monetary Union 10
What does the term ‘dumping’ mean?
Correct answer D. Sale in a foreign market of a commodity at a price below marginal cost
Which of the following is included in GNP?
Correct answer A. A broker’s commission
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The market value of all final goods and services produced in a country in a year defines which measure?
Correct answer C. GNP
Which of the following would raise national income?
Correct answer B. Increase in government spending
What is the total income received for the services of labour, land and capital in a country called?
Correct answer B. National income
In a budget, what does the fiscal deficit mean?
Correct answer B. Budgetary deficits plus the net borrowings of the government
What does national income refer to?
Correct answer B. Money value of goods and services produced in a country during a year.
What does the abbreviation ‘Forex’ stand for?
Correct answer C. Foreign exchange
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What exchange rate policy does Pakistan follow?
Correct answer A. Flexible exchange rate
What could a government do to correct a current account deficit?
Correct answer A. Reduce the deficit on the balance of trade
What is a stock market described as when prices are falling?
Correct answer B. Bearish
How can a government control inflation?
Correct answer A. Increasing supply of goods
Which property does paper money lack?
Correct answer C. Durability
For trade between two countries to be beneficial, what must their cost ratios for goods be?
Correct answer D. Different
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Which of the following would make incomes more unequal?
Correct answer D. More regressive taxes
When banks draw up their balance sheets, where do they record the money they have lent?
Correct answer B. Assets
Which one of these is not a tool of monetary policy?
Correct answer B. Taxation
In which role does a person gain from deflation?
Correct answer C. As a pensioner
Which tool of monetary policy is used most widely?
Correct answer D. Open-market operations