Economics Mcqs

This set of General Line Subjects Multiple Choice Questions and Answers (MCQs) focuses on “ Economics ”.These MCQS are chosen from a collection of most authoritative and best reference books on Economics and recent past Exams and Papers . Our aim is to prepare an individual for competitive exams like like CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other specialized departmental exam. One should practice our MCQS to assimilate Economics Subject comprehensively.

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1.
If inflation is 8 percent and the real interest rate is 3 percent, then the nominal interest rate must be ?

3/8 percent

5 percent

11 percent

24 percent

2.
Large payment to senior employee who is forced into retirement is called ?

Golden bonus

Golden shake hand

Friendly handshake

Golden handshake

4.
If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?

is vertical

is negatively sloped

has a slope that is determined by how fast people adjust their price expectations

is positively sloped

5.
If both marginal cost and marginal revenue increase, a firm ?

Should increase output

Should reduce output

will require further information on how to respond

Should not change output

7.
In Western Europe in 9th C, originated military and social system in which a nobleman would grant the use of land to servant in return for service which is often military, and duty, Name the system ?

Military system

Land based system

Feudal system

Rural system

8.
Which of the following is not true about how people make decisions ?

people give too much weight to a small number of vivid observations

People are sometimes too sure of their own abilities

All of these answers are actually true statements about how people make decisions.

People are always rational maximizers

9.
Which of the following is a withdraw from the circular flow income stream ?

Investment

Subsidies

Taxation

Consumption

10.
Which of the following is not a characteristic of a monopolistically competitive market ?

free entry and exit

long run economic profits

many sellers

differentiated products

11.
Social scientists explain the incest taboo as_______________?

biologically programmed

a religious universal

way of reducing family conflict

all of the above

12.
What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?

The ceteris paribus effect

The diminishing marginal utility effect.

The substitution effect

The income effect

13.
The policy that has been the most successful in increasing agricultural output in developing countries is ?

mechanization

land reform

import substitution

produce marketing boards

14.
An increase in national income is ?

Likely in increase exports

Likely to decrease savings

Likely to decrease investment

Likely to increase spending on imports

15.
The favorable evaluation of presidents is based on______________?

the caretaker role

strict adherence to the written Constitution

dynamic political leadership

the teflon principle

16.
Which term is used for the value imprinted on a security ?

Real value

Net value

Par value

Gross value

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