(A) Raising minimum wages
(B) Raising union wages
(C) Improving the education of workers
(D) None of the above
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
Raising taxes and increasing welfare payments?
(A) Improves equity at the expense of efficiency
(B) Improves efficiency at the expense of equity
(C) Reduces market power
(D) None of the above
Economics is the study of?
(A) How to reduce our wants until we are satisfied
(B) How to fully satisfy our unlimited wants
(C) How society manages its unlimited resource
(D) None of the above
In a planned or command economy all the economics decisions are taken by the?
(A) Government
(B) Workers
(C) Voters
(D) Consumers
Circular flow of goods and incomes shows the relationship between?
(A) Income and money
(B) Wages and salary
(C) Goods and services
(D) None of the above
Bank rates refers to the interest rate at which?
(A) Central banks gives loans to commercial banks
(B) Commercial banks receives deposits from the public
(C) Commercial banks grants loans to their customers
(D) None of the above
What is the concept of opportunity cost?
(A) Suggest all our wants can be achieved
(B) Is relevant only for a capitalist economy like the United States
(C) Suggests a major increase in public healthcare spending means an expansion in other areas will be harder to achieve
(D) All of the above
A recession is?
(A) A period during which aggregate output declines
(B) A period of declining prices
(C) A period of declining unemployment
(D) A period of very rapidly declining prices