PPSC Economics Chapter 10 Most Frequently Asked Economics MCQS With Answers

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PPSC Economics Chapter 10 Most Frequently Asked Economics MCQS

Sr. # Questions Answers Choice
1 An indifference curve gives the actual combination of goods that consumer chooses the minimum choice of the consumer the highest level of satisfaction None of these
2 Increases in minimum wage Helps in controlling unemploymentr Increases unemploymentr Reduce wage bill None of these
3 Price controls are Necessary for consumer's welfares A must to check inflation Doomed to fall None of these
4 Which of the following products will have an elastic demand. Flour Cloth Honda city None of these
5 Public utilities tend to be Inefficient Natural monopolies subject to increasing costs None of these
6 The supply of foreign currency tends to be upward sloping down ward sloping Vertical any of the above
7 Of the following which one is a characteristic of monopolistic competition. Standardized product Comparatively easy only Little non price competition None of these
8 The largest trading partner of Pakistan is Italy US USA None of these
9 An Engel curve is based on which one of the following assumptions. Constant prices, very incomes Constant price, constant income Constant incomes, varying prices None of these
10 Which of the following type of taxes is the most regressive. Income taxes Sales taxes Excise taxes None of these
11 The type of business in which an individual has unlimited responsibility for the debts of the organization. Partnership Corporation Monopoly None of these
12 International trade during the 19th century was characterized by. Extensive barriers to trade Operation of the gold standard A small volume of international trade None of these
13 A stable equilibrium requires that the marginal propensity to consume is. Less than zero Zero One None of these
14 The exogenous variable in the income equation C +!+G = y is C I G None of these
15 A purely monetary explanation of the business cycle is proposed by Hawtrey Schumpeter Hansen None of these
16 A depreciation of the dollar will have its most pronounced impact on imports if the demand for. Imports is. Constant Inelastic Elastic Unitary elastic
17 Which of the following is often considered to be inconsistent with the notion of perfect competition. Large number of firms Free entry Complete mobility None of these
18 A straight line downward sloping demand curve implies that as price falls the elasticity of demand. Increases Decreases Remain the same None of these
19 Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is Positive Negative Infinite None of these
20 Since 1960 the rage of economic growth in the country has been On the decline continuously Increasing continuously increasing occasionally. Static in real terms
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