Objective Questions with Answers on Economics
Objective Questions with Answers on Economics
1- What happens when two reaction curves of the two different firms intersect each other?
(a) Cournot-Nash Equilibrium
(b) Saddle Point
(c) Feasible Solution
(d) Group Equilibrium
2- Stagflation refers to the situation which is characterized by:
(a) Deflation and rising unemployment
(b) Inflation and rising employment
(c) Inflation and rising unemployment
(d) Deflation and stagnant employment
3- Demand pull inflation is generated when
(a) Demand for money increases
(b) Demand for products increases
(c) Supply of goods decreases
(d) Production cost increases
4- What do you mean by ‘Gender Budgeting’?
(a) A tool for gender discrimination
(b) A separate budget for women
(c) A tool for gender empowerment
(d) A separate budget for men and women
5- High deficit in an economy creates:
(a) Inflation
(b) Deflation
(c) Unemployment
(d) None of these
6- A change in a country’s balance of payments can cause fluctuations in the
(a) Exchange rate
(b) Rate of interest
(c) Money supply
(d) None of these
7- Demand for labour is
(a) Direct demand
(b) Cross demand
(c) Derived demand
(d) Income demand
8- An Iso-quant curve is:
(a) concave to origin point
(b) convex to origin point
(c) upward sloping to right
(d) None of these
9- The main problem of Economics is
(a) Over Production
(b) Unemployment
(c) Choice making
(d) Poverty
10- Economic development can be measured by:
(a) Gross Domestic Product
(b) Death Rate
(c) Pollution
(d) None of these’
ANSWERS:
1-(a), 2-(c), 3-(b), 4-(c), 5-(a), 6-(a), 7-(c), 8-(a), 9-(c), 10-(a)