MCQOPTIONS
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MCQOPTIONS
This section includes 381 Mcqs, each offering curated multiple-choice questions to sharpen your General knowledge and support exam preparation. Choose a topic below to get started.
| 151. |
Term a tax that is levied by a country of source on income paid, usually on dividends remitted to the home country of the firm operating in a foreign country? |
| A. | Wealth tax |
| B. | Withholding tax |
| C. | Income tax |
| D. | None of these |
| Answer» C. Income tax | |
| 152. |
Skills that can be transferred to other employers are called: |
| A. | General skills |
| B. | Specific skills |
| C. | Non-pecuniary skills |
| D. | All of the above |
| Answer» B. Specific skills | |
| 153. |
Symbolic analysts are_______________? |
| A. | people employed in new enterprises |
| B. | employees capable of manipulating data words and visual images |
| C. | psychologists with advanced degrees |
| D. | only A and B |
| Answer» E. | |
| 154. |
G.D.P. (Gross Domestic Product) is the value of all goods and services: |
| A. | Produced in the country with foreign resources during a year |
| B. | Produced within the geographical boundaries of a country during a year |
| C. | Produced by the factors belonging to the country working in or outside the country |
| D. | None of the above |
| Answer» B. Produced within the geographical boundaries of a country during a year | |
| 155. |
The goal of a pure market economy is to best meet the desires of |
| A. | Consumers |
| B. | Companies |
| C. | Workers |
| D. | The government |
| Answer» B. Companies | |
| 156. |
Switzerland is an example of nation that______________? |
| A. | wishes to absorb other nations |
| B. | plans to enlarge its power over other nations |
| C. | displays no self-interest |
| D. | looks out for its own interests only |
| Answer» E. | |
| 157. |
Suppose that the nominal tariff rate on finished computers is 12 percent and that the weighted average of the nominal tariff rates on the inputs used in producing computers is 18 percent. Thus, the effective rate of protection for the computer industry must ? |
| A. | be less than 12 percent and can be negative |
| B. | be less than 12 percent but must be greater than zero |
| C. | equal 6 percent |
| D. | exceed 30 percent |
| Answer» B. be less than 12 percent but must be greater than zero | |
| 158. |
Tariffs ? |
| A. | Decrease the domestic price of a product |
| B. | Increase government earnings from tax |
| C. | Increase the quantity of imports |
| D. | Decrease domestic production |
| Answer» D. Decrease domestic production | |
| 159. |
Stratification occurs societies that have a____________? |
| A. | surplus |
| B. | shortage of everything |
| C. | equality |
| D. | capitalistic system |
| Answer» B. shortage of everything | |
| 160. |
Assume that there are two goods, A and B. In 1996, Americans produced 10 units of A at a price of $10 and 20 units of B at a price of $20. In 2002, Americans produced 20 units of A at a price of $20 and 30 units of B at a price of $30. The Nominal GDP for 2002 is: |
| A. | $100 |
| B. | $400 |
| C. | $500 |
| D. | $900 |
| Answer» B. $400 | |
| 161. |
Suppose there occurs an increase in the Canadian demand for Japanese computers This results in a (an) ? |
| A. | increase in the demand for yen |
| B. | decrease in the demand for yen |
| C. | increase in the supply of yen |
| D. | decrease in the Supply of yen |
| Answer» B. decrease in the demand for yen | |
| 162. |
Successful service companies focus their attention on both their customers and their employees they understand ________ which links service firm profits with employee and customer satisfaction ? |
| A. | internal marketing |
| B. | service-profit chains |
| C. | interactive marketing |
| D. | service differentiation |
| Answer» C. interactive marketing | |
| 163. |
successful ________ depends on how well a company blends its people organizational structure decision and reward systems, and company culture into a cohesive program that supports its strategies? |
| A. | marketing strategy |
| B. | marketing control |
| C. | marketing analysis |
| D. | marketing implementation |
| Answer» E. | |
| 164. |
Some of the restrictions as work in a market include________________? |
| A. | prices of goods and services |
| B. | income for labor |
| C. | prices of resources for firms |
| D. | all of the above |
| Answer» C. prices of resources for firms | |
| 165. |
Supply is likely to be more price elastic ? |
| A. | In the short run rather than the long run |
| B. | If factors of production are relatively immobile between industries |
| C. | If there are very few producers |
| D. | If it is easy to expand output |
| Answer» E. | |
| 166. |
Shareholders of a corporation elect individuals to carry out certain tasks that are establishment in the charter. What these individuals are called ? |
| A. | Management |
| B. | Board of Governor |
| C. | Top brass |
| D. | Board of Directors |
| Answer» E. | |
| 167. |
Term the central market for buying and selling all kind of securities ? |
| A. | A big company |
| B. | Stock Exchange |
| C. | Joint stock |
| D. | A multinational company |
| Answer» C. Joint stock | |
| 168. |
Singapore and Hong Kong have become major economic powers by taking advantage of their ? |
| A. | abundant mineral resources |
| B. | imported cheap labor from Japan |
| C. | Profits from agricultural surpluses |
| D. | favorable location on international trade routes |
| Answer» E. | |
| 169. |
Social systems are based on_______________? |
| A. | expectations as to the behavior of others |
| B. | chaos |
| C. | haphazard behavior |
| D. | disorganization |
| Answer» B. chaos | |
| 170. |
Suppose that a war is fought will biological weapons. The weapons destroy people but not capital. What is likely to happen to equilibrium wages and rental rates after the war when compared to their values before the war ? |
| A. | Wages rise, and rental rates fall |
| B. | Wages rise, and rental rates rise |
| C. | Wages fall, and rental rates rise |
| D. | Wages fall, and rental rates fall |
| Answer» B. Wages rise, and rental rates rise | |
| 171. |
Studies other than Mead,s show that_________________? |
| A. | there is no pattern to aggressive behavior in either males or females |
| B. | biology is totally unimportant in sex role behavior |
| C. | aggression is strictly socially learned |
| Answer» B. biology is totally unimportant in sex role behavior | |
| 172. |
Suppose that the price of a new bicycle is Rs300 Natalie values a new bicycle at Rs 400 it costs Rs200 for the seller to produce the new bicycle. What is the value of total surplus if Natalie buys a new bike ? |
| A. | Rs500 |
| B. | Rs300 |
| C. | Rs200 |
| D. | Rs400 |
| Answer» C. Rs200 | |
| 173. |
If there is a price ceiling, there will be |
| A. | Shortages |
| B. | Surpluses |
| C. | Equilibrium |
| D. | Sellers providing goods for free that were formerly not free |
| Answer» B. Surpluses | |
| 174. |
Shortcomings of interest groups include______________? |
| A. | injecting partisan ideologies into political parties |
| B. | creating splinter parties |
| C. | the dissemination of biased information |
| D. | stifling minority voices |
| Answer» D. stifling minority voices | |
| 175. |
When economists say that people act rationally in their self interest, they mean that individuals _______? |
| A. | look for and pursue opportunities to increase their utility |
| B. | generally disregard the interests of others |
| C. | are mainly creatures of habit |
| D. | are unpredictable |
| Answer» B. generally disregard the interests of others | |
| 176. |
The services sector contributes _____ % towards national GDP. |
| A. | 47.16 |
| B. | 51.16 |
| C. | 55.16 |
| D. | 59.16 |
| Answer» E. | |
| 177. |
Suburban growth was based on___________________? |
| A. | the development of automobile travel |
| B. | expensive suburban property |
| C. | wartime industrial expansions |
| D. | movement of factories out of the cities |
| Answer» B. expensive suburban property | |
| 178. |
A budget of deficit is one: |
| A. | Where public spending is less than the amount of revenue |
| B. | Where public spending is greater than the amount of revenue |
| C. | Where public spending is equal to the amount of revenue |
| D. | Where the budget leaves most tax payers with less disposable income |
| Answer» B. Where public spending is greater than the amount of revenue | |
| 179. |
Smith wrote that private ownership of the means of production would ? |
| A. | create abuse |
| B. | stimulate government control |
| C. | stimulate economic growth as each individual tried to maximize profits |
| D. | stifle economic growth as the markets would be flooded with merchandise |
| Answer» D. stifle economic growth as the markets would be flooded with merchandise | |
| 180. |
Socialization happens in__________________? |
| A. | children |
| B. | adults |
| C. | persons of all ages |
| D. | infants |
| Answer» D. infants | |
| 181. |
Of all methods of payment, the recognized legal tender is:- |
| A. | Cheques |
| B. | Bank notes/metalic coins |
| C. | Bills of exchange |
| D. | Promissory notes |
| Answer» B. Bank notes/metalic coins | |
| 182. |
Term a tax or duty rebate on imported goods that are exported at a later date ? |
| A. | Duty |
| B. | Custom |
| C. | Rebut |
| D. | Drawback |
| Answer» E. | |
| 183. |
Some economists and third-world policy makers criticize MNCs arguing that they have a negative effect on the developing country because they ? |
| A. | - Hamper local entrepreneurship and investment in infant industries |
| B. | I- increase unemployment rates from unsuitable technology |
| C. | - Restrict subsidiary exports when they undercut the market of the parent company |
| Answer» B. I- increase unemployment rates from unsuitable technology | |
| 184. |
Social ranking is based on________________? |
| A. | age |
| B. | sex |
| C. | wealth |
| D. | all of the above |
| Answer» E. | |
| 185. |
A major dependency theorist Andre Gunder Frank Suggests that the following economic activities have contributed to underdevelopment: |
| A. | Workers migrating from villages to foreign-dominated urban complexes |
| B. | - Forming an unskilled labor force to work in factories and mines and on plantations |
| C. | I- Replacing indigenous enterprises with technologically more advanced global subsidiary companies |
| D. | - Closing the economy to trade with and investment from, developed countries |
| Answer» B. - Forming an unskilled labor force to work in factories and mines and on plantations | |
| 186. |
Term the minimum income level below which a person is considered to be living in poverty ? |
| A. | Poverty level |
| B. | Poverty line |
| C. | Both of them |
| D. | None of them |
| Answer» D. None of them | |
| 187. |
Tax shifting ? |
| A. | is the way in which a tax is structured |
| B. | occurs when taxes cause prices to increase but wages to fall |
| C. | occurs when house hold can alter their behaviour and do something to avoid paying a tax. |
| Answer» E. | |
| 188. |
A free port is the port where |
| A. | Less duties are paid |
| B. | No duties and no restrictions |
| C. | Selective duties are paid |
| D. | Restrictions on imports but not on exports |
| Answer» B. No duties and no restrictions | |
| 189. |
Suppose that U.S dollar depreciates 70 percent against the yen yet Japanese export prices to Americans did not decrease by the full extent of the dollar depreciation. This is best explained by ? |
| A. | partial currency pass through |
| B. | complete currency pass through |
| C. | partial J curve effect |
| D. | complete J curve effect |
| Answer» B. complete currency pass through | |
| 190. |
The transaction in which the buyer of an item is selected after a number of buyers have made some willingness to pay for that item; is marked as |
| A. | Sale |
| B. | Bargaining |
| C. | Disposal |
| D. | Auction |
| Answer» B. Bargaining | |
| 191. |
Who is the Current Federal Minister of Finance, Revenue and Economic Affairs? |
| A. | Muhammad Ishaq Dar |
| B. | Chaudhry Nisar Ali Khan |
| C. | Miftah Ismail |
| D. | Mr. Ahsan Iqbal |
| Answer» B. Chaudhry Nisar Ali Khan | |
| 192. |
Should international transportation costs decrease the effect on international trade would include a (an) ? |
| A. | increase in the volume of trade |
| B. | Smaller gain from trade |
| C. | Decline in the income of home producers |
| D. | Decrease in the level of specialization in production |
| Answer» B. Smaller gain from trade | |
| 193. |
Social movements are forms of collective behavior that have____________________? |
| A. | no specific ideology |
| B. | a sense of solidarity |
| C. | an insignificant number of persons involved |
| D. | no particular program of action |
| Answer» C. an insignificant number of persons involved | |
| 194. |
Social scientists are interested in collective behavior because it is________________? |
| A. | so predictable |
| B. | not tied to social factors |
| C. | often the basis of important social change |
| D. | reflective of purely animal behavior |
| Answer» D. reflective of purely animal behavior | |
| 195. |
One percentage decrease in unemployment is associated with two percentage points of additional growth in real gdp is called? |
| A. | classical theory |
| B. | Consumer price index |
| C. | none of the above |
| Answer» B. Consumer price index | |
| 196. |
Specialized socialization occurs most frequently in________________? |
| A. | the family |
| B. | the peer groups |
| C. | church |
| D. | occupational groups or organizations |
| Answer» E. | |
| 197. |
Successful socialization for humans requires_______________? |
| A. | the absence of others |
| B. | genes alone |
| C. | contact with other humans |
| D. | the existence of schools or the media |
| Answer» D. the existence of schools or the media | |
| 198. |
Stagflation occurs when the economy experiences ? |
| A. | rising prices and rising output |
| B. | rising prices and falling output |
| C. | falling prices and falling output |
| D. | falling prices and rising output |
| Answer» C. falling prices and falling output | |
| 199. |
Which of the following taxes is regressive? |
| A. | The federal income tax |
| B. | The state income tax |
| C. | The sales tax |
| D. | The Medicare tax |
| Answer» B. The state income tax | |
| 200. |
Studies of delinquent gangs indicate that____________? |
| A. | gangs are useful for society |
| B. | gangs have no norms |
| C. | none of the above |
| Answer» B. gangs have no norms | |