Economics explores how resources are utilized and their value maximized under specific conditions. It entails a thorough examination of the production, distribution, and consumption of goods and services. GuruMCQs.com provides all updated Economics MCQs. The most frequently repeated economics MCQs section is encountered in Inspector, ASI, Sub-inspector, Constable, FPSC, PPSC, ETEA, FIA, Police, Army, Navy, Airforce, IB, MOFA, ASF, LHC, Educators, and various other competitive exams, as well as government and private job assessments. MCQs on Economics cover topics like Basic Economic MCQs, Indirect Tax and Economic Welfare, Analysis of Interest Rate Changes, Carbon Trading, Changing Market Price, and much more. Also, check Auditing MCQs with answers here.
31. What is Debt Service ?
A. Interest payments on external debts
B. repayments of external debt
C. none of these
D. Both of them
32. What is called the reduction in the rate of a currency
A. Devolution
B. Devaluation
C. Price cap
D. Cut-rate
33. Which kind of Tax is Federal subject ?
A. Excise Tax
B. Property Tax
C. Zakat
D. General Sales Tax
34. Downsizing is ?
A. to make in a smaller size
B. to make in actual size
C. To make in half size
D. None of these
35. Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?
A. Embargo
B. Contraband
C. Ban
D. Restriction
36. What is meant by excise?
A. A tax levied on certain articles produced and consumed in a country
B. A licensing charge or a fee levied for certain privileges
C. Both of them
D. None of them
37. Minimum price of a commodity fixed by government to save the interest of producer of raw materials is called ?
A. Floor price
B. Fixed price
C. Bid Price
D. Basic Price
38. Group of Singapore, Hong, Kong, Taiwan, and south Korea is called?
A. Four Dragons
B. Little Tigers
C. Four Tigers
D. All of these
39. What is called the trade without restriction of tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade
40. During a given period how the economic activity of a nation is measured?
A. Gross Domestic Product (GOP)
B. Gross National output (GNO)
C. Gross National product (GNP)
D. Gross National Output