Economics & Trade Terms MCQs with Answers

Past Paper MCQ

Capital Structure is an optimal mix of which one of the following options?

• A.Debt and Equity
• B.Assets and Liabilities
• C.Revenue and Expenses
• D.Cash and Inventory

Past Paper MCQ

Adam Smith was famous a/an ?

• A.Philosopher
• B.Economist
• C.Historian
• D.Mathematician

Countries trade with each other because ?

• A.To eliminate all tariffs and customs duties
• B.To establish political alliances only
• C.To reduce their domestic production capacity
• D.To get goods and services they do not produce

Subsidies are part of?

• A.Development Expenditure
• B.Capital Expenditure
• C.Revenue Expenditure
• D.Transfer Payment

The equity of health, human capital, environmental quality, social protection and food security are the contents covered under the concept of _?

• A.Sustainable Development
• B.Inclusive Growth
• C.Human Development
• D.Green Economy

Frictional unemployment often occurs when?

• A.People first enter the labour force
• B.The economy enters a recession
• C.Workers' skills become obsolete due to technology
• D.Seasonal industries shut down temporarily

GDP stands for _?

• A.Gross Domestic Product
• B.Gross Development Plan
• C.General Domestic Policy
• D.Global Demand Percentage

The GDP (Gross Domestic Product) of a country is $100 billion. If government spending is $20 billion, Investment is $10 billion and net exports are -$5 billion, what is consumption spending?

• A.$75 billion
• B.$85 billion
• C.$65 billion
• D.$95 billion

Ben Bernanke, Douglas Diamond and Philip Dybvig won the Nobel Prize 2022 in the field of:

• A.Physics
• B.Economics
• C.Chemistry
• D.Medicine

In economics, the pleasure, happiness, or satisfaction received from a product is called _?

• A.Utility
• B.Marginal Cost
• C.Opportunity Cost
• D.Elasticity