Economics MCQs

Page No. 416

What is called an arrangement of workers machines, and equipment in which the product being assembled passes consecutively from operation to operation or the process in which finished products are turned out in a mechanically efficient, though impersonal, manner ?


aAssembly line


bProduction line


cBoth of them


dNone of them


View Answer Both of them

National Income is essentially composed of ?


a All wealth of a nation


b Annual Income of the central government


c All income of the people on a year


dIncome derived from taxes by the central government



Government policy about exports and imports is called ?


aMonetary policy


bFiscal policy


cCommercial policy


dFinance policy


View Answer Commercial policy

When aggregate supply exceeds aggregate demand ?


a Business inventory accumulate


bUnemployment exists


cPrice of consumer goods rise


dPeople save more than they intended to save



Development means economics growth plus ?


aInflation


bDeflation


cSocial change


dPrice stability


View Answer Social change

Which of the following terms refers to income that is saved and not invested ?


aCapital


bDeposit


cHoarding


dProfit


View Answer Hoarding

What term is given to unemployment caused by a downturn in the business cycle ?


aUnderemployment


b Disguised unemployment


cTemporary unemployment


dCyclical unemployment


View Answer Cyclical unemployment

Devaluation of currency can help to increase exports if elasticity of demand of exportable items in other countries is ?


aLess than one


bGreater than one


cEqual to one


dZero


View Answer Equal to one

If GNP of Pakistan rises. it will encourage ?


aExports


b Imports


cBoth


dNone


View Answer Both

The branch banking system is in vogue in most countries of the world. In which country was it first developed?


aSouth Africa


bUK


cCanada


d Australia


View Answer UK

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