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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.
Choose an answer
Selling, increase
buying , increase
selling, reduce
both b and c
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Question # 2
If the Bank of Pakistan wished to pursue a tight monetary policy is would.
Choose an answer
Sell government securities on the open market.
Reduce the minimum reserve asset ratio
Buy government securities on the open market.
Lower interest rates
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Question # 3
A square matrix with 1's in its principal diagonal and zeros every where else is.
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Diagonal matrix
Identity matrix
Leading diagonal
Scalar matrix
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Question # 4
Which refers to a scale with a set of points which describes varying degrees of the dimensions of an attribute observed.
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Rating scale
Score card
Check list
Observation
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Question # 5
In a model in which there is no government new investment capital replacement or international trade the market value of final output equals.
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Aggregate consumption
The sum of the receipts of economic resources
The sum of wages rent interest and profit
All of the above
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Question # 6
Ordinal measurement approach was not presented by
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Allen
Hicks
Edge worth
Robbins
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Question # 7
In Vann diagram the universal set is represented by
Choose an answer
Points within a rectangle
Points within a circle
Both a and b
None of these
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Question # 8
In Nash equilibrium each player chooses the best strategy.
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Assuming other players move first.
Dominated by the other players
Given the strategies of other players
That is a credible threat
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Question # 9
Health of a country's economy is indicated by
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Number of doctors per 1,000 population
Per capital income
Literacy rate
None of the above
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Question # 10
A square matrix A, such that A = A ' is called a
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Symmetric matrix
Skew symmetric matrix
Singular matrix
Rank of a matrix
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Question # 11
What tow factors should you equate in deciding how many workers to employ.
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The marginal product of labor and the marginal product of capital
The marginal product of labor and the real wage rate
The marginal product of labor and the real interest rate
The marginal product of capital and the real wage rate
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Question # 12
Chose the advantage of snowball sampling from the following.
Choose an answer
population of not seen
Total size of population is not known
researcher's acquaintance influence the research
Contradicts with conventional nations.
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Question # 13
For a borrower an increase in the real interest rate will lead to.
Choose an answer
Higher current consumption and less borrowing
Higher current consumption and less saving
Lower current consumption and less borrowing
Lower current consumption and less saving
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Question # 14
in 1950's industrial development was observes only in.
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Food industry
Textile industry
Coal industry
Cement indusry
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Question # 15
Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
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Marginal costs, marginal benefits
Demand, supply
Marginal cost, marginal revenue
Marginal cost, average cost
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Question # 16
When the marginal propensity to consume is 0.75 the multiplier has a value of.
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4
5
3
2
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Question # 17
Which of the following would cause the demand curve for an input to shift.
Choose an answer
A change in technology
A change in demand for the product being produced
An increase in the number of firms in the industry
All of the above
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Question # 18
The marginal propensity to consume in a less Developed Country is likely to be.
Choose an answer
Less than 0
Nearly 0
High
Low
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Question # 19
Parameter in inferential statistics refers to
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Sample value
Data
Population value
Variable name
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Question # 20
An increase in the real wage rate will cause.
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The labor demand curve to shift to the right
The labor demand curve to shift to the left
The quantity of labor demanded to rise
A movement along the labor demand curve
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Question # 21
Public utilities tend to be
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Inefficient
Natural monopolies
subject to increasing costs
None of these
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Question # 22
In oligopoly market seller are.
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Few
Four
Some
A large number
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Question # 23
When goods are compliments the cross demand curve
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Upward to the right
Backward to bottom
Inwards to the right
Downwards to right
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Question # 24
A current account surplus implies that
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The country is a net lender to the rest of the world
The country is running a net capital account surplus
Foreign investment in domestic securities is at very low levels
All of the above
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Question # 25
The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.
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Sun spect theory
Multiplier accelerator model
Solow theory
New classical theory
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Question # 26
The term of trade is given by the process.
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Paid for all goods exported by the home country
Received for all goods exported by the home country
Received for exports and paid for imports.
Of primary product as opposed to manufactured products.
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Question # 27
Which of the following is not an example of the functions of statistic.
Choose an answer
Average
Intelligence quotient
Diagram
x2 test
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Question # 28
Pakistan place in the world area size in ______ number.
Choose an answer
4th
5th
6th
7th
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Question # 29
The idea that the money supply should change to accommodate changes in aggregate demand is associated with the ideas of.
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Milton Friedman
Ronald reagan
Margaret Thatcher
John Maynard Keynes
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Question # 30
The developing countries need to have a big push or big comprehensive package for economic development is the view of.
Choose an answer
Nurkse
M.P Todaro
Rosenstein Rodan
Leibenstein
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Question # 31
The marginal rate of substitution for two goods can be obtained from
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The slope of the demand curve
The slope of the indifference curve
The ration of first derivative of the total utility functions
B and D both
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