Economics MCQs Questions with Answers

Economics MCQs Questions with Answers from 36 to 40

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36. What from the following measures a government can take to reduce inequality in the distribution of income?
(A) Progressive taxation
(B) Transfer payments
(C) Subsidize consumption of low-income groups
(D) All of the above

37. Capital is one of the three fundamental inputs called factors of production which is a produced and durable input and is itself an output of an economy. Which from the following is NOT among capital?
(A) Clothing
(B) Machines
(C) Highways
(D) Buildings

38. The economic term used to rank countries according to human development is
(A) GDP Per Capita
(B) GNP
(C) Gini
(D) HDI

39. The ultimate goal of economic science is to
(A) improve the living standard of people
(B) obtain the highest possible GDP
(C) minimize the unemployment
(D) obtain equilibrium between inflation and employment

40. In which from the following questions, we can only examine the likely consequences of alternative policies, and the answer can be resolved only by discussions?
(A) Do higher interest rates slow the economy?
(B) Do higher interest rates lower inflation?
(C) Should a country lower tariff on imports?
(D) Does higher employment raise the inflation?

ANSWERS: ECONOMICS MCQS QUESTIONS WITH ANSWERS
36. (D) All of the above
37. (A) Clothing
38. (D) HDI
39. (A) improve the living standard of people
40. (C) Should a country lower tariff on imports?