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.

81. The sum of total income received for the services of labor, land or capital in a country is called?

A. Gross domestic product
B. National income
C. Gross domestic income
D. Gross national income

82. Fiscal deficit in the budget means ?

A. Revenue deficit plus the net borrowings of the government
B. Budgetary deficits plus the net borrowings of the government
C. Capital deficit plus revenue deficit
D. Primary deficit minus capital deficit

83. National income refers to ?

A. Money value of goods and and services produced in a country during a year.
B. Money value of stocks and shares of a country during a year.
C. Money value of capital goods produced by a country during a year.
D. None of these

84. ‘Forex’ stands for ?

A. For examine
B. Foreign exchange
C. Foreign exports
D. None of these

85. Pakistan follows the policy of_______________?

A. Fixed exchange rate
B. Flexible exchange rate
C. controlled exchange rate
D. Increasing exchange rate

86. What could a government do to correct the current account deficit ?

A. Reduce the deficit on the balance of trade
B. Reduce the repayment of loans
C. Reduce the surplus on the capital account
D. Reduce the volume of exports

87. When stock market is falling it is_______________?

A. Bearish
B. Bullish
C. Crash
D. Fall down

88. The govt. can control inflation by______________?

A. Increasing demand for goods
B. Increasing supply of goods
C. Increasing money supply
D. Decreasing taxes

89. Which property the paper money does not process ?

A. Acceptability
B. Divisibility
C. Durability
D. Portability

90. Trade between two countries can be useful if cost ratios of goods are ?

A. Equal
B. Different
C. Undetermined
D. Decreasing