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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
Art gallery argument give emphasis to aesthetic aspect of.
Choose an answer
Diversity
Nature
Life
None of these
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Question # 2
In the Keynesian model short run equilibrium occurs where
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The IS and LM curves interest
The IS curve LM curve and FE lines intersect
the IS curve intersects the FE line
The LM curve intersects the FE line
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Question # 3
To reduce cyclical unemployment the government might.
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Increase the budget surplus
Increase the balance of payments deficit
Reduce interest rates
Reduce government expenditure
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Question # 4
A reduction in the money supply is likely to
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Reduce interest rates
Increase the interest rate
Increase inflation
Decrease deflation
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Question # 5
Indifference curve theory is old wine in new labeled bottle is said by.
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Marshall
Griffin
Ricardo
Allen
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Question # 6
If marginal utility is zero.
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Total utility is zero
An additional unit of consumption will decrease total utility
An additional unit of consumption will increase total utility
Total utility is maximized
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Question # 7
The tax is question 52 is
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Progressive's
Regressive
Proportional
None of these
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Question # 8
To help developing nations strengthen their international competitive rises many industrial nations have granted non nations udder the .
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International commodity engravement's program
Multilateral contract program
Generalized system of preferences program
Export led growth program
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Question # 9
A determinant composed of all the first order partial derivatives of a system of equations, arranged in ordered sequence is called.
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Hassian determinatn
Jacobian determiant
Discrimianant
First order determinant
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Question # 10
The law of demand states that.
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As the quantity demanded rises, the price rises.
As the price rises the quantity demanded rises
As the price rises, the quantity demanded falls.
As supply rises, the demand rises.
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Question # 11
The epigram "time is money" expresses , in part, the concept of.
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Opportunity cost
Comparative advantage
Specialization
Efficiency in production
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Question # 12
Control is the essential ingredient of
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Descriptive method
Diagnostic method
Explorative method
Experiential method
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Question # 13
Ahmed uses dummy variables in order to determine the monthly seasonal effect in her regression model. The number of dummy variables used will be.
Choose an answer
5
11
12
1
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Question # 14
When the value of output exceeds planned spending .
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There is unsold output, and the level of income will fall
there is unsold output and the level of income will rise
There is unsold output, and the level of income does not change.
All of the above
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Question # 15
An increase in money _______ shifts the LM curve to the _____ causing the interest rate to fall and output to rise
Choose an answer
demand ; right
demand ; left
supply ; right
supply ; left
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Question # 16
The 1959 land reforms fixed the celling in the private ownership of land of 500 acres irrigated and ______ acres un irrigated.
Choose an answer
750
800
1000
None of these
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Question # 17
In the cost of slugger rises and slugger is major ingredient in jelly beans then the jelly bean.
Choose an answer
Demand curve shifts to the left
Supply curve shifts to the left
Supply curve shifts to the right
Demand and supply curves both shift to the right
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Question # 18
The estimated regression coefficient for good Y indicates
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Goods X and Y are independent goods
Good Y is relatively elastic
Good Y is a luxury good
Goods X and Y are complementary goods
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Question # 19
Your checking account is
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An asset for you and a liability for your bank
A liability for you and an asset for your bank
An asset for both you and your bank
A liability for both you and your bank
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Question # 20
What characteristics is likely to increase population grotwth.
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Family planning programs
Old age social security
Lack of women's empowerment
Rapid economic growth
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Question # 21
The opportunity cost of acquiring education is.
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Course fees
Course fees and living expenses
The earning foregone
Course fees, living expenses and textbooks
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Question # 22
Headquarter of IMF is located in.
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Geneva
Washington DC
London
New york
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Question # 23
Who among the following was the leader of Monetarism
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Keynes
Milton friedman
A.W.Philip
Mankiv
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Question # 24
All of the following are trade problems of developing countries except.
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Unstable export markets
improving terms of trade
Limited access to the markets of industrial countries
Highly elastic demand curves for their products.
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Question # 25
Except for taxes to offset ___ taxes are.
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Imperfect competition , popular
Extremality's, distortionary
Inequality, a first best option
Poor health, unnecessary
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Question # 26
Automatic stabilizers
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Counter balance fluctuations in economic activity.
Reinforce fluctuations in economic activity
Do not occur when the economy falls into recession
Reduces the size of the deflationary gap
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Question # 27
Comparative advantage is determined by
Choose an answer
Actual difference in labor productivity between countries.
Relative difference in labor productivity between countries.
Both a and b
Neither a nor b
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Question # 28
import substitution is the replacement of ________ by domestic production under the protection of.
Choose an answer
exports, subsidies
Exports, patents
imports, high tariffs or import quotes
Imports, subsidies
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Question # 29
According to Nurkse a balance growth a ncessary to.
Choose an answer
Develop resources
Develop capital
Break vicious circle of poverty
Develop infrastructure.
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Question # 30
Injection into the circular flow are _________ and _______
Choose an answer
Consumption, investment, exports
Investment exports, transfer payments
Investment government expenditure, exports.
Taxes, exports, transfer payments.
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Question # 31
"Principles of economics" is the book of
Choose an answer
Robbins
Adam smith
Hicks
Marshall
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