(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Keynesian Economics
The answer is: (B) Macroeconomics
Category: Economics MCQs FPSC NTS PPSC Past Papers Economy Test Questions
Economics MCQs quiz test questions with answers. Basic economics, microeconomics, macroeconomics, managerial economics and world economy multiple choice questions and answers.
The branch of economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as
(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Keynesian Economics
The answer is: (C) Econometrics
The branch of economics concerned with the behavior of markets, firms, and households is known as
(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Bayesian Economics
The answer is: (A) Microeconomics
An economy is producing efficiently when no individual’s economic welfare can be improved unless
(A) supply is increased
(B) demand is increased
(C) someone else is improved
(D) someone else is made worse off
The answer is: (D) someone else is made worse off
The direct exchange of goods and services for other goods and services is known as
(A) Primitive trade
(B) Barter
(C) Non market trade
The answer is: (B) Barter
For the Cobb-Douglas Production Function
(A) The law of diminishing returns to scale holds
(B) The law of constant returns to scale holds
(C) The law of increasing returns to scale holds
The answer is: (B) The law of constant returns to scale holds
The conflict of interest between shareholders and management of a company is termed as
(A) company trade-off
(B) company dilemma
(C) owner-manager problem
(D) principal-agent problem
The answer is: (D) principal-agent problem
What is meant by entrepot trade?
(A) Trade among three countries
(B) Importing duty-free goods only
(C) Re-importing goods previously exported
(D) Re-exporting goods previously imported
The answer is: (D) Re-exporting goods previously imported
Which of the following characteristic can exist both in perfect competition and in monopoly?
(A) ease of entry
(B) many sellers
(C) many buyers
(D) perfectly elastic supply curve
The answer is: (C) many buyers
A businessman or a company should accept investments that offer rates of return ________ their opportunity costs of capital.
(A) equal to
(B) greater than
(C) less than
(D) related to
The answer is: (B) greater than