In this post, we will share with you ECO401 Solved MCQS and you can read it online on this website easily. This ECO401 Introduction To Economics consider a very tough book and very tough to understand economics rules but don't worry you should focus and clear your all concept if you want to understand because without focus and clear concepts it is difficult to understand any book. First of all, you should know about the book topic that what is topic of this book and also helpful in the future or not then read any books or learn from a good teacher who knows all topics, theories, and concepts. Students if you like this post then you can share it.

ECO401 Solved MCQS

ECO401 Solved MCQS 

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Solved MCQs MCQs Info
Post TitleECO401 Solved MCQS 
Book CodeECO401
UniversityVirtual Univerity of Pakistan
 PapersECO401 Current Final Term Papers
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ECO401 Solved MCQS 

If the value of nominal gross domestic product and GDP deflator in 2019 are Rs 700000 and 1.75 respectively the real GDP in this year is


In the measurement of GDP, the problem of double counting is avoided by

(Using GDP deflator)

Which of the following markets is most likely to be oligopolistic

(The market for clothing)

The good produced by a monopolist 

(Has no close subsbtules )

Some of to total factor income is called

(Personal income)

Suppose marginal propensity to consume is 0.8 and government expenditure increase by Rs.1000 the multiplier is equal to 


Suppose a monopolist is earning supernormal profit in the short run in the long run it will be made 

(Supernormaly profit)

 There is .......relationship between cost and productivity 


Which of the following is true for says law in case of excess supply of labor 

(Demand for factors will decrease)

Adam smiths invisible hand theory states that 

(Long run market equilibrium always occur below the full employment level)

Macroeconomics equilibrium in a Keynesian sense obtains when

(Total injection = total leakages)

The market for plumbers is characterized by the existence of a large number of similar but not identical substitutes this market is best considered as

(Monopolistic competition)

 Procter & gamble Pakistan ltd is producing 500 units of soap to produced these units company bears Rs8000 for total fixed cost and Rs 2000 for total variable cost what will be the total cost in this case 

(Rs 10000)

If the firm's average revenue is below its AVC then

(The firm will shut down)

Panasonic Corporation is a leading Japanese multinational electronics corporation it maximizes its profit at a level of output where

(Marginal cost = marginal revenue

Which of the following is true about firms average fixed cost

(It is upward sloping at the start of production and then becomes horizontal)

Consider a closed economy where total savings equal Rs 80000 investment is Rs 90000 and total government spending is Rs 55000 what is an injection into the circular flow of income 

(Rs 170000)

Total income minus net taxes is called

(Disposable income)

Which of the following can be thought of as a barrier to entry

(All of the given options are true)

The expenditure method sums up the value of all the ........ transactions taking place in the economy 

(Final goods)

........cost is the addition to the total cost caused by a unit increase in output 

(Marginal cost)

GDP measures which of the following 

(All of the given options)

Combined effects of Russian revolution hyperinflation and crash of new york stock exchange results in

(Low unemployment)

Which of the following statements best describes the marginal cost

(The change in total cost resulting from a unit charge in the quantity of output produced)

In long run, there are no

(Fixed cost)

In superstores sellers will charge lower prices from customers if they buy products in large quantities this is an example of 

(2nd-degree price discrimination)

The classical economists thought that the economy would quickly overcome any short-run instability because 

(Price and wages were flexible)

There is ........relationship between cost and productivity 


If the firm's average revenue is below its AVC then

(Firm is making a profit)

From 2018 to 2019 change in disposable income is Rs 630000 and change in consumption is Rs 450000 what is the value of marginal propensity to consume 


Which of the following is a flow variable? 


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