Explore topic-wise MCQs in Economics.

This section includes 1267 Mcqs, each offering curated multiple-choice questions to sharpen your Economics knowledge and support exam preparation. Choose a topic below to get started.

1151.

Agents of socialization consist of_______________?

A. instincts
B. genes
C. drives
D. none of these
Answer» E.
1152.

Ageism asserts that___________________?

A. wisdom accompanies advancing age
B. each stage of life has its own rewards
C. the young are superior to the old
D. life begins forty
Answer» D. life begins forty
1153.

Advocates of the elitist approach believe that the ruling elite maintains its power by____________?

A. physical force
B. manipulation of the masses
C. explaining the truth to the people
D. none of the above
Answer» C. explaining the truth to the people
1154.

Adult socialization typically_____________?

A. occurs incidentally and unconsciously
B. involves acquiring a self-image
C. is less effective and easier to resist than childhood socialization
D. all of the above
Answer» D. all of the above
1155.

Admiration of power and intolerance of differences is linked to a_________________?

A. Democratic personality
B. unprejudiced personality
C. authoritarian personality
D. totalitarian personality
Answer» D. totalitarian personality
1156.

Adequate growth of the economy refers to the goals of__________________?

A. maintaining current standards of living in spite of increasing population
B. increasing GNP per capita
C. approximately 4% growth rate per year
D. all of the above
Answer» E.
1157.

Achieved status would be especially important in_______________?

A. ancient Egypt
B. 19th century India
C. feudal Europe
D. none of the above
Answer» E.
1158.

According to the U.S Census Bureau a CMSA is defined as__________________?

A. a relatively large dense permanent settlement of heterogeneous individuals
B. any locality with a population of one million people or more
C. an ecological system
D. any locality with a downtown and suburbs
Answer» C. an ecological system
1159.

According to the text the following people were/are deviant ?

A. Joan of Arc
B. Mozart
C. The Hell,s Angels
D. People with high IQs
Answer» D. People with high IQs
1160.

According to the quantity theory of money an increase in the money supply is most likely to lead to inflation if ?

A. The velocity of circulation decrease
B. The number of transaction decrease
C. There is deflation
D. The velocity of circulation and the number of transactions is constant
Answer» C. There is deflation
1161.

According to the paradox of thrift increased efforts to save will cause ?

A. an increase in income and an increase in overall saving
B. a decrease in income and an overall decrease in saving
C. a decrease in income but an increase in saving
D. an increase in income but no overall change in saving
Answer» C. a decrease in income but an increase in saving
1162.

According to the labeling theory which of the following concepts explains why a labeled individual becomes deviant ?

A. Resocialization
B. Ethnocentrism
C. Self-fulfilling prophecy
D. Rebellion
Answer» D. Rebellion
1163.

According to the Laffer curve as tax rates increase tax revenue ?

A. initially increase and then decrease
B. decrease continuously
C. rise continuously
D. initially decrease and then increase
Answer» B. decrease continuously
1164.

According to the differential association theory deviant acts are_________________?

A. considered normal by some antisocial individuals
B. caused by abnormal chromosomes
C. learned through interaction with others
D. the result of social deprivation
Answer» D. the result of social deprivation
1165.

According to the cultural transmission theory deviance is learned through________________?

A. genetic inheritance
B. being labeled as deviant
C. close association with deviants
D. all of the above
Answer» D. all of the above
1166.

According to the cognitive development theory children learn gender roles according to____________?

A. instinct
B. attempt to elicit parental approval
C. which stage of cognitive development they have reached
D. biology
Answer» D. biology
1167.

According to the “broker rule” school of though________________?

A. power is in the hands of a small group of individuals
B. Wall street brokers and other bankers hold the effective reins of government
C. power is diffused among numerous interest groups who compete and compromise on the decision-making process
D. the fewer interest groups exist the greater the stability of the political system
Answer» D. the fewer interest groups exist the greater the stability of the political system
1168.

According to supply side economists as tax rates are reduced labour supply should increase. This implies that ?

A. There is no income effect when tax rates are changed
B. The income effect of a wage change is greater than the substitution effect of a wage change.
C. There is no substitution effect when tax rates are changed
D. The substitution effect of a wage change is greater than the income effect of a wage change
Answer» E.
1169.

According to supply-side economists if taxes are cut so that people have an increased incentive to work and businesses have an increased incentive to invest ?

A. aggregate supply will increase , aggregate demand will decrease
B. aggregate supply will increase, aggregate output will increase and the price level will decrease
C. aggregate supply will increase aggregate output will increase and the price level will increase
D. both aggregate supply and demand will increase and the price level will increase
Answer» B. aggregate supply will increase, aggregate output will increase and the price level will decrease
1170.

According to Robert Salisbury the crucial factor in turning awareness of an issue into an organized movement is_______________?

A. money
B. mass media
C. leadership
D. all of the above
Answer» D. all of the above
1171.

According to Mead the generalized other is_______________?

A. one’s mother
B. shame
C. societal norms
D. analytic internalization
Answer» D. analytic internalization
1172.

According to Marx which group constituted a ruling elite ?

A. The proletariat
B. The bourgeoisie
C. The workers for the owners of the means of production
D. The military
Answer» C. The workers for the owners of the means of production
1173.

According to Karl Marx_______________?

A. classes are the result of different life styles
B. status is also a phenomenon of stratification
C. classes are determined by the relationship of a group in society to the means of production
D. classes are composed of the have-nots who eventually revolt against the haves
Answer» D. classes are composed of the have-nots who eventually revolt against the haves
1174.

According to Gordon Allport,s theory of contact_______________?

A. unequal status between groups reduces prejudice
B. equal status between groups leads to reduced competition
C. Southern blacks and whites of the same social class have been driven further apart in recent years
D. equal status between groups increases prejudice
Answer» C. Southern blacks and whites of the same social class have been driven further apart in recent years
1175.

According to George H.Mead mind is________________?

A. the acting subject as opposed to “object ”
B. the source of experience
C. an emergent outcome of social acts
D. none of the above
Answer» E.
1176.

According to Gordon Allport much prejudice is based on________________?

A. economic competition among different groups
B. equality of groups
C. lack of human compassion
D. plain ignorance
Answer» B. equality of groups
1177.

According to George Herbert Mead the self is______________?

A. the subconscious mind
B. an individual’s self-concept or self-awareness
C. a person’s conscience
D. the equivalent of the libido in Freuds theory
Answer» C. a person’s conscience
1178.

According to functionalism the fundamental human needs are_____________?

A. income safety and deference
B. life liberty and the pursuit of property
C. survival and expressiveness
D. control over nature and the denial of death
Answer» D. control over nature and the denial of death
1179.

According to Freud the crucial institution for the development of personality is______________?

A. religion
B. the family
C. the economy
D. education
Answer» C. the economy
1180.

According to French philosopher Jean-Jacques Rousseau the state emerged_______________?

A. to restore peace
B. after the establishment of private property
C. because people began to fight among themselves
D. all of the above
Answer» C. because people began to fight among themselves
1181.

According to Daniel Bell the first technological revolution_______________?

A. was the first of three such revolution
B. entailed the harnessing of electricity
C. involved a change in farming techniques
D. all of the above
Answer» B. entailed the harnessing of electricity
1182.

According to criminologists_______________?

A. the death penalty does act as a deterrent
B. the death penalty does not act as a deterrent
C. the death penalty is a sing of an uncivilized society
D. it is preferable to judge each criminal case individually
Answer» C. the death penalty is a sing of an uncivilized society
1183.

According to Blau and Duncan occupational upward mobility is greatly influenced by______________?

A. the amount of education
B. occupation of the father
C. the nature of the first job
D. all of the above
Answer» E.
1184.

According the law of diminishing returns ?

A. The marginal product fall as more units of a variable factor are added to a fixed factor
B. Marginal utility falls as more unity of a product are consumed
C. The total product falls as more units of a variable factor are added to a fixed factor
D. The marginal product increases as more units of a variable factor are added to a fixed factor
Answer» B. Marginal utility falls as more unity of a product are consumed
1185.

According Piaget,s developmental theory______________?

A. a child of five can learn philosophy
B. a child of one can understand social rules
C. a child of eight can master addition
D. none of the above
Answer» D. none of the above
1186.

Absence of body contact and stimulation in infants inhibits_______________?

A. instinctual development
B. development of higher learning functions
C. biological drives
D. aggressive behavior
Answer» C. biological drives
1187.

Abraham Maslow and Carl Rogers are associated with the following theories of personality.

A. development
B. stressing self-concept and self-actualization
C. psychoanalytic
D. environmental determinism
Answer» C. psychoanalytic
1188.

A working wife and mother is likely to encounter ?

A. no role involvement
B. role happiness
C. role strain
D. the best of both roles
Answer» D. the best of both roles
1189.

A way of helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?

A. New classical economists
B. left-wing theorists
C. interventionist policies
D. monetarists
Answer» D. monetarists
1190.

A way of helping depressed regions by having lower wages, lower local taxes and lower unemployment benefit has been suggested as ?

A. market orientated economists
B. left-wing theorists
C. Keynesian
D. New-Keynesian
Answer» B. left-wing theorists
1191.

A way of calculating the total output of the economy regardless of where resources are located is________________?

A. the GDP
B. the GNP
C. the NNP
D. the SPQR
Answer» E.
1192.

A way of calculating the total output of the economy and all incomes earned within the Pakistan regardless of whether the resources are Pakistan or foreign is_______________?

A. the GDP
B. the GNP
C. the NNP
D. the SPQR
Answer» B. the GNP
1193.

A variable whose value is determined by the model of which it is a part is termed ?

A. exogenous
B. constant
C. endogenous
D. independent
Answer» D. independent
1194.

A trained observer_________________?

A. knows what to expect
B. knows which data are relevant to the research problem
C. records everything that he or she sees
D. is most a home in experimental settings?
Answer» C. records everything that he or she sees
1195.

A totalitarian regime______________?

A. contains secret police
B. controls the mass media
C. exhibits a centralized control of the economy
D. all of the above
Answer» E.
1196.

A theory is a______________?

A. scientific law
B. set of concepts and generalization
C. speculation about truth and beauty
D. hunch regarding reality
Answer» C. speculation about truth and beauty
1197.

A temporary collection of people gathered in the same place at the same time becomes a crowd when they______________?

A. interact on a face-to-face basis
B. respond to a common stimulus
C. are personally acquainted with each other
D. have the same thing in mind as to how to behave
Answer» C. are personally acquainted with each other
1198.

A symbiotic relationship exists between__________________?

A. the press and politicians
B. the president and Congress
C. the two political parties
D. all of the above
Answer» E.
1199.

A study of male identical twins one of whom had been castrated by accident during circumcision and treated as a little girl until puberty showed that_______________?

A. the castrated male still acted like a tomboy
B. the intact twin gradually became more “feminine”
C. the castrated twin was tidier than his brother but never played with dolls
D. all of the above
Answer» B. the intact twin gradually became more “feminine”
1200.

A strong predictive factor of becoming an abusive parent is________________?

A. to have felt unloved and unwanted by one,s own parents
B. to have felt the injustice of abuse
C. to have come to believe that abuse is the way things are
D. none of the above
Answer» B. to have felt the injustice of abuse