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Economics Past Paper MCQs

css economics mcqs

Economics-I 2024 MCQs

1 / 20

There are strong theoretical reasons to expect that changes in wealth are responsible for changes in consumption. Nonetheless, one reason that we observe a tight link between consumption and disposable income is:

2 / 20

The essence of Engel's law is that as family income rise:

3 / 20

Which of the following is an INCORRECT statement about a budget constraint?

4 / 20

The optimal capital stock is achieved when the user cost of capital is equal to:

5 / 20

With perfect income equality the Gini coefficient in a country would be:

6 / 20

The concept of opportunity cost is based upon the principle of:

7 / 20

What is not a component of the GDP?

8 / 20

A certain amount of goods and services is necessary for a minimum standard of living. This is called:

9 / 20

Non-traded goods do not enter measured GDP because:

10 / 20

The aggregate production function for the Solow growth model assumes ___________ returns to scale and _____________marginal productivity of labour and capital.

11 / 20

The labour measure (L) is:

12 / 20

The accelerator principle states:

13 / 20

The Keynesian assumption is a convenient analytical short cut and turns out to be a rather accurate description of the reality. What does it assume?

14 / 20

It is the _______ interest rate that matters for spending decisions and the _______ interest rate that is relevant when we look at monetary questions.

15 / 20

In short-run macroeconomic analysis, demand is often viewed as the driving force. Which component of total demand is often regarded as being independent of economic conditions and thus exogenous in the model?

16 / 20

Economic growth measures the:

17 / 20

When the manufacturer of power looms expands, there are forward linkage effects due to:

18 / 20

Which of the following is not typically an element in the structural change that accompanies development?

19 / 20

A supply side vicious circle of poverty suggests that poor nations remain poor because:

20 / 20

Which kind of demand fluctuates the most?

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