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Economics MCQs: Test Your Knowledge and Boost Your Understanding
Are you ready to dive into some thought-provoking Economics MCQs? Our comprehensive collection of Economics MCQs is designed to challenge and enhance your understanding of key economic concepts. Whether you’re preparing for exams, looking to improve your knowledge for professional growth, or just interested in economic theories and applications, our Economics MCQs offer valuable insights and practice. Explore topics ranging from market dynamics and economic policies to global financial systems and microeconomics.
General Knowledge (GK) MCQs: Expand Your Knowledge Horizons
In addition to Economics MCQs, we provide a diverse range of General Knowledge (GK) MCQs to test and broaden your overall knowledge. Our GK MCQs cover a variety of subjects, ensuring you have a well-rounded grasp of general knowledge. Perfect for quiz enthusiasts, students, and anyone eager to learn more about the world, our General Knowledge (GK) MCQs are designed to keep you informed and engaged.
Which term refers to the situation where a central bank reduces the money supply to curb inflation?
A. Monetary Tightening
B. Quantitative Easing
C. Fiscal Stimulus
D. Expansionary Monetary Policy
Answer: Monetary Tightening
Which term describes the economic policy of increasing the money supply to lower interest rates and stimulate economic activity?
A. Monetary Easing
B. Fiscal Stimulus
C. Quantitative Easing
D. Expansionary Monetary Policy
Answer: Monetary Easing
Which term describes the situation where economic output exceeds its potential level, leading to inflationary pressures?
A. Overheating
B. Recession
C. Stagflation
D. Deflation
Answer: Overheating
Which term refers to the total value of goods and services produced by a country’s economy over a specific period?
A. Gross Domestic Product (GDP)
B. Net National Product (NNP)
C. Gross National Product (GNP)
D. Gross National Income (GNI)
Answer: Gross Domestic Product (GDP)
Which economic concept refers to the amount of goods and services produced per unit of input?
A. Productivity
B. Efficiency
C. Output
D. Utility
Answer: Productivity
Which economic principle refers to the benefit derived from consuming one additional unit of a good or service?
A. Marginal Utility
B. Total Utility
C. Average Utility
D. Total Benefit
Answer: Marginal Utility
Which term describes the reduction of government expenditure to control budget deficits and debt?
A. Austerity
B. Fiscal Stimulus
C. Quantitative Easing
D. Expansionary Monetary Policy
Answer: Austerity
Which term refers to the situation where economic output is below its potential level, leading to higher unemployment and unused capacity?
A. Recession
B. Inflation
C. Deflation
D. Stagflation
Answer: Recession
Which economic concept refers to the total value of goods and services produced by a country’s citizens, both domestically and abroad?
A. Gross National Product (GNP)
B. Gross Domestic Product (GDP)
C. Net National Product (NNP)
D. Gross National Income (GNI)
Answer: Gross National Product (GNP)