Economics MCQS (All About Economics )

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The fundamental economic problem faced by all societies is:

The demand for a product would be more inelastic:

GNP is always...

Transfer payments means...

GNP includes.....

A TV set purchased from store is an example of ..

Pakistan started his 5 year plan in ...

Population growth rate(2015) of Pakistan is...

Which of the following would increase national income?

Economics is the study of...

A market can accurately be described as....

Microeconomics is concerned with..

Time series data show information?

If your income during one year is £10,000 and the following year it is £12,000, then it has grown by?

When we know the quantity of a product that buyers wish to purchase at each possible price, we know?

If a price increase of good A increases the quantity demanded of good B, then good B is a.

A supply curve is directly affected by...

On a graph, a positive linear relationship?

A straight-line diagram can be drawn knowing the ______ and _________.

The retail price index is used to ______________.

Why is the law of diminishing marginal returns true?

The demand for labor is the same as the..

“Treating an individual as typical of a group” is the definition of;

Which of the following statements is/are true?

Which of the following is an automatic stabilizer?

“Crowding out” means that:

Which of the following IS a function of money?

The monetary base is composed of:

An increase in the money supply will cause interest rates to:

If there are 50 firms in a industry, each selling 2% of the total sales, the concentration ratio is:

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