864 + Mcqs in Economics (GK) Page 8 McqOptions

351.	The supply-side economics lays greater emphasis on -
A.	Producer
B.	Global economy
C.	Consumer
D.	Middle Man
Answer» B. Global economy

Discussion

352.	The borrowing of a sum of money by one person, company, government or other organization from another is called:
A.	Usury
B.	Finance
C.	Loan
D.	Collateral
Answer» D. Collateral

Discussion

353.	Rent is a factor payment paid to -
A.	land
B.	restaurant
C.	building
D.	factory
Answer» B. restaurant

Discussion

354.	A legal document between a lender and a borrower whereby the later agrees to certain conditions for the repayment of the sum of money borrowed; is called:
A.	Promissory Note
B.	Bill of exchange
C.	Both of the above
D.	None of the above
Answer» B. Bill of exchange

Discussion

355.	What is the term used for airports, roads, railways, sewage, telephone and other public utilities?
A.	Understructure
B.	Substructure
C.	Infrastructure
D.	Superstructure
Answer» D. Superstructure

Discussion

356.	The population growth rate in the country is:
A.	2.01%
B.	2.61%
C.	3.01%
D.	3.61%
Answer» C. 3.01%

Discussion

357.	With the present population growth rate, Pakistan would become world s 3rd most populated country by the year:
A.	2020
B.	2025
C.	2030
D.	2050
Answer» E.

Discussion

358.	The opportunity cost of a factor of production is -
A.	what it is earning in its present use.
B.	what it can earn in the long period.
C.	what has to be paid to retain it in its present use.
D.	what it can earn in some other use.
Answer» E.

Discussion

359.	The 5th national census recorded the total population of Punjab with annual growth rate of :
A.	47.292 million -2.51%
B.	72.585 million -2.01%
C.	73.585 million -2.61%
D.	63.433 million -3.01%
Answer» C. 73.585 million -2.61%

Discussion

360.	Custom duty is an instrument of -
A.	Monetary Policy
B.	Foreign Trade Policy
C.	Industrial Policy
D.	Fiscal Policy
Answer» C. Industrial Policy

Discussion

361.	In Punjab, the lowest density of population is in:
A.	Multan Division
B.	Rawalpindi Division
C.	Bahawalpur Division
D.	D.G. Khan Division
Answer» D. D.G. Khan Division

Discussion

362.	Which part of Pakistan has lowest urban population?
A.	Islamabad
B.	Balochistan
C.	N.W.F.P
D.	FATA
Answer» E.

Discussion

363.	Which of the following of Punjab has the lowest population density?
A.	Rajanpur
B.	Bahawalpur
C.	Layyah
D.	D.G. Khan
Answer» B. Bahawalpur

Discussion

364.	Full employment is a situation where -
A.	there is no involuntary unemployment
B.	there is involuntary unemployment
C.	there is no voluntary unemployment
D.	there is voluntary unemployment
Answer» C. there is no voluntary unemployment

Discussion

365.	The main emphasis of Keynesian economics is on -
A.	Expenditure
B.	Exchange
C.	Foreign trade
D.	Taxation
Answer» B. Exchange

Discussion

366.	The Keynesian consumption function shows a relation between -
A.	aggregate consumption and total population.
B.	aggregate consumption and general price level.
C.	aggregate consumption and aggregate income
D.	aggregate consumption and interest rate
Answer» D. aggregate consumption and interest rate

Discussion

367.	Consumer goods that yield services or utility over time rather than being used up instantly are termed as
A.	Durable Goods
B.	Undurable Goods
C.	Both of the above
D.	None of the above
Answer» B. Undurable Goods

Discussion

368.	A trade of goods and services in the exchange for other goods or services rather than for money is known as:
A.	Foreign Trade
B.	Free Trade
C.	Barter Trade
D.	Limited Trade
Answer» D. Limited Trade

Discussion

369.	Thomas Robert Malthus (1766 1834) was a British economist who is remembered for his essays on population. In his which famous work he said, Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio. ?
A.	Principles of Political Economy
B.	An Inquiry into the Nature and Progress of Rent
C.	An Essay on the Principle of Population
D.	Illustrations of Political Economy
Answer» D. Illustrations of Political Economy

Discussion

370.	The excess of the value of imports of goods and services over the value of exports of goods and services is called:
A.	Trade Cycle
B.	Trade Credit
C.	Trade Gap
D.	Trade investment
Answer» D. Trade investment

Discussion

371.	The country with highest ratio of urban population in South Asia is:
A.	India
B.	Sri Lanka
C.	Pakistan
D.	Nepal
Answer» D. Nepal

Discussion

372.	Opportunity cost of production of a commodity is -
A.	the cost that the firm could have Incurred when a different technique was adopted
B.	the cost that the firm could have incurred under a different method of production
C.	the actual cost incurred
D.	the next best alternative output
Answer» E.

Discussion

373.	Goods which are produced for consumption rather than as an intermediate product used in the process of production are referred to as:
A.	By Product
B.	Final Goods
C.	Durable Goods
D.	Intermediate Goods
Answer» C. Durable Goods

Discussion

374.	Excise duty on a commodity is payable with reference to its -
A.	production
B.	production and sale
C.	production and transportation
D.	production, transportation and sale
Answer» B. production and sale

Discussion

375.	An index (index number) of the prices of goods and services purchased by consumers to measure the inflation rate or the cost of living is called
A.	Consumer Price Index
B.	Retail Price Index
C.	Both of the above
D.	None of the above
Answer» D. None of the above

Discussion

376.	The sixth Nobel Prize for Economics was introduced in 1969 in memory of Alfred Nobel. It is financed by
A.	Asian Development Bank
B.	Swedish National Bank
C.	World Bank
D.	International Monetary fund
Answer» C. World Bank

Discussion

377.	Depreciation is loss in value of .
A.	Final goods
B.	Machinery
C.	Capital stock
D.	Stock of inventory
Answer» C. Capital stock

Discussion

378.	The budgetary stance of central government is called:
A.	Trade Policy
B.	Fiscal Policy
C.	Economic Policy
D.	None of the above
Answer» C. Economic Policy

Discussion

379.	The total area of Pakistan is 80 million hectares, out of which area under forests is:
A.	3.5%
B.	4.8%
C.	7.3%
D.	9.3%
Answer» C. 7.3%

Discussion

380.	Which country has maximum foreign project investments in Pakistan?
A.	USA
B.	U.K
C.	China
D.	Japan
Answer» D. Japan

Discussion

381.	Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes -
A.	a fall in prices of output and resources
B.	a fall in real gross National product and employment
C.	a rise in real gross National product and investment
D.	a rise in prices of output and resources
Answer» B. a fall in real gross National product and employment

Discussion

382.	Which five year plan of Pakistan is yet to be implemented?
A.	7th
B.	8th
C.	9th
D.	10th
Answer» D. 10th

Discussion

383.	Personal disposable income is -
A.	always equal to personal income
B.	always more than personal income
C.	equal to personal income minus indirect taxes
D.	equal to personal income minus direct taxes
Answer» E.

Discussion

384.	The production of a commodity in which a higher proportion of capital is used is known as
A.	Labour Intensive
B.	Capital Intensive
C.	Both of the above
D.	None of the above
Answer» C. Both of the above

Discussion

385.	Aggregate net value of the output in one year is the -
A.	National income at factor cost
B.	Gross Domestic Product at market prices
C.	Net. National Product at market prices
D.	Gross National Product at market prices
Answer» D. Gross National Product at market prices

Discussion

386.	The tax levied on gross sales revenue from business transactions is called -
A.	Turnover Tax
B.	Sales Tax
C.	Capital Gains Tax
D.	Corporation Tax
Answer» B. Sales Tax

Discussion

387.	"Sales Tax" is ultimately paid by:
A.	The shopkeepers
B.	The producers
C.	The customers
D.	The wholesalers
Answer» D. The wholesalers

Discussion

388.	Ad Valorem tax is levied -
A.	according to value added by the Government.
B.	according to value addition to a commodity
C.	according to value given by producers
D.	according to value added by the finance ministry
Answer» D. according to value added by the finance ministry

Discussion

389.	General Sales Tax, under the constitution 1973 is a:
A.	Federal Subject
B.	Provincial Subject
C.	Concurrent subject
D.	None of the above one
Answer» B. Provincial Subject

Discussion

390.	Agricultural income tax in Pakistan will be levied on the farmers with land holdings of or more than:
A.	30 acres
B.	10 acres
C.	6 acres
D.	12 acres
Answer» E.

Discussion

391.	Tax on a Commodity according to its volume is:
A.	Real tax
B.	Direct Tax
C.	Indirect Tax
D.	Ad Valorem Tax
Answer» E.

Discussion

392.	The rebate or discount where ordinary share on a purchase that is accumulated for a particular period to encourage customers to remain with a specific supplier is called:
A.	Deferred Rebate
B.	Aggregated Rebate
C.	Both of the above
D.	None of the above
Answer» D. None of the above

Discussion

393.	Investment in the foreign operations of a company through acquisition of a foreign operation, or establishment of a new site is called:
A.	Direct Investment
B.	Installation
C.	Indirect Investment
D.	None of the above
Answer» B. Installation

Discussion

394.	The first class equity share, the purpose of which entails little risk in earnings in recession is called:
A.	Blue disc
B.	Blue chip
C.	Both of the above
D.	None of the above
Answer» C. Both of the above

Discussion

395.	Which of the characteristics of Islamic Economic System is/are true?
A.	An Islamic state is essentially a welfare state
B.	Ensures social justice
C.	All economic problems are solved in the light of moral values
D.	All of the above
Answer» E.

Discussion

396.	Legal Tender Money is -
A.	accepted only by Government
B.	accepted by people and Government as per the law
C.	not accepted for business purposes by law
D.	not accepted by Government
Answer» C. not accepted for business purposes by law

Discussion

397.	What is referred to as 'Depository Services'?
A.	A new scheme of fixed deposits
B.	A method for regulating stock exchanges
C.	An agency for safe-keeping of securities
D.	An advisory service to investors
Answer» D. An advisory service to investors

Discussion

398.	A plastic, personal magnetized card with the name and account number of the holder and the expiry date embossed is referred to as:
A.	Master Card
B.	Visa Card
C.	Credit Card
D.	Green Card
Answer» D. Green Card

Discussion

399.	Surplus earned by a factor other than land in the short period of referred to as-
A.	economic rent
B.	net rent
C.	quasi-rent
D.	super-normal rent
Answer» D. super-normal rent

Discussion

400.	Bank rate is that rate on which -
A.	Any bank lends money to an individual
B.	State Bank of India gives loan to the rural banks
C.	Central Bank of Country lends money to the commercial banks
D.	Rural bank gives loan to cooperative societies
Answer» D. Rural bank gives loan to cooperative societies

Discussion

Explore topic-wise MCQs in General Knowledge (GK).

The supply-side economics lays greater emphasis on -

The borrowing of a sum of money by one person, company, government or other organization from another is called:

Rent is a factor payment paid to -

A legal document between a lender and a borrower whereby the later agrees to certain conditions for the repayment of the sum of money borrowed; is called:

What is the term used for airports, roads, railways, sewage, telephone and other public utilities?

The population growth rate in the country is:

With the present population growth rate, Pakistan would become world s 3rd most populated country by the year:

The opportunity cost of a factor of production is -

The 5th national census recorded the total population of Punjab with annual growth rate of :

Custom duty is an instrument of -

In Punjab, the lowest density of population is in:

Which part of Pakistan has lowest urban population?

Which of the following of Punjab has the lowest population density?

Full employment is a situation where -

The main emphasis of Keynesian economics is on -

The Keynesian consumption function shows a relation between -

Consumer goods that yield services or utility over time rather than being used up instantly are termed as

A trade of goods and services in the exchange for other goods or services rather than for money is known as:

Thomas Robert Malthus (1766 1834) was a British economist who is remembered for his essays on population. In his which famous work he said, Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio. ?

The excess of the value of imports of goods and services over the value of exports of goods and services is called:

The country with highest ratio of urban population in South Asia is:

Opportunity cost of production of a commodity is -

Goods which are produced for consumption rather than as an intermediate product used in the process of production are referred to as:

Excise duty on a commodity is payable with reference to its -

An index (index number) of the prices of goods and services purchased by consumers to measure the inflation rate or the cost of living is called

The sixth Nobel Prize for Economics was introduced in 1969 in memory of Alfred Nobel. It is financed by

Depreciation is loss in value of .

The budgetary stance of central government is called:

The total area of Pakistan is 80 million hectares, out of which area under forests is:

Which country has maximum foreign project investments in Pakistan?

Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes -

Which five year plan of Pakistan is yet to be implemented?

Personal disposable income is -

The production of a commodity in which a higher proportion of capital is used is known as

Aggregate net value of the output in one year is the -

The tax levied on gross sales revenue from business transactions is called -

"Sales Tax" is ultimately paid by:

Ad Valorem tax is levied -

General Sales Tax, under the constitution 1973 is a:

Agricultural income tax in Pakistan will be levied on the farmers with land holdings of or more than:

Tax on a Commodity according to its volume is:

The rebate or discount where ordinary share on a purchase that is accumulated for a particular period to encourage customers to remain with a specific supplier is called:

Investment in the foreign operations of a company through acquisition of a foreign operation, or establishment of a new site is called:

The first class equity share, the purpose of which entails little risk in earnings in recession is called:

Which of the characteristics of Islamic Economic System is/are true?

Legal Tender Money is -

What is referred to as 'Depository Services'?

A plastic, personal magnetized card with the name and account number of the holder and the expiry date embossed is referred to as:

Surplus earned by a factor other than land in the short period of referred to as-

Bank rate is that rate on which -