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MCQs 1: A type of unemployment used by workers voluntarily changing jobs and by temporary layoffs; unemployment workers between jobs?

Underemployment Frictional employment Temporary unemployment None of these
Answer Explanation

MCQs 2: Any resource whose quantity can not be changed by a firm in the short run_______________?

Fixed resource Variable resource Available resource Economic resource
Answer Explanation

MCQs 3: The monitory income a firm sacrifices when it uses a resource it rosins rather than supplying the resource in the market ?

Implicit cost Explicit cost Economic cost Nominal cost
Answer Explanation

MCQs 4: The rate of exchange of one nation’s currency for another nation’s currency?

Exchange rate appreciation Exchange rate depreciation Exchange rate determinant None of these
Answer Explanation

MCQs 5: Recurring increase and decrease in the level of economic activity over periods of years?

Business cycle Cyclic flow Both None
Answer Explanation

MCQs 6: Excess of total revenue over total costs_______________?

Producer surplus Scarcity rent Both None
Answer Explanation

MCQs 7: The role of power in economic decision making is studied in________________?

Development economics Traditional economics Political economics None of these
Answer Explanation

MCQs 8: Noble prize of Economics in 1979 was awarded to________________?

W. Arthur Lewis Theodore Schultz Both a and b None
Answer Explanation

MCQs 9: The core value of development is________________?

Sustenance Self esteem Freedom All
Answer Explanation

MCQs 10: Nonproductive members of society are referred to as___________________?

Society wastes Society burden Economic dependency burden None of these
Answer Explanation

MCQs 11: In least developed nations dependent children are__________________?

60 % 90 % 50 % 70 %
Answer Explanation

MCQs 12: In LDC children under age of 15 years are ___________% of the total population?

40 % 50 % 80 % None
Answer Explanation

MCQs 13: Rural based population in developed countries___________________?

42 % 27 % 50 % 35 %
Answer Explanation

MCQs 14: Agriculture contribution in GNP of developing nations?

20 % 35 % 50 % 14 %
Answer Explanation

MCQs 15: Urban population is developed nations?

74 % 80 % 67 % none
Answer Explanation

MCQs 16: In developed countries manufactured goods are about ________________% of total export?

60 % 90 % 57 % 82 %
Answer Explanation

MCQs 17: People who are eager and able to work but for whom no suitable jobs are available?

Unemployment Open unemployment Under employment Disguised employment
Answer Explanation

MCQs 18: Rates of open unemployment in developing world average ?

20-40% 8-15% 35-45% 40-60%
Answer Explanation

MCQs 19: A country’s potential for economic growth is greatly influenced by its endowments of__________________?

Physical resources Human resources Both a and b None of these
Answer Explanation

MCQs 20: Number of peoples and their level of skills is called as________________?

Human resources Physical resources Capital resources None
Answer Explanation

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