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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
Usury is prohibited in
Choose an answer
Islam only
Sikhism only
Jewism
Both a and b
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Question # 2
The asset market approach a more helpful in explaning.
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why excahnge rates remain quite stable
Why governments change their money supplies.
Long term exchange rate movement.
Short term exchange rate movement.
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Question # 3
Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.
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The upward accelerator
The downward multiplier
The upward PPF
The downward MPC
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Question # 4
An autonomous decline in the value of the Pakistan Rupee makes Pakistan goods _______ relative to foreign goods and results in a ______ in net exports.
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Cheaper ; decline
Cheaper ; rise
dearer ; decline
dearer ; rise
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Question # 5
industrial growth rate projected to__ this year against 3.1 percent last year
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2.4%
3.4%
4.4%
5.4%
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Question # 6
in the keynesian model in the short run the amount of employment is determined by the effective labor demand curve and the level of.
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Prices
Output
The real interest rate
The supply of labor
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Question # 7
Pakistan's fiscal year starts from
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1st September
1st January
1st April
1st July
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Question # 8
The least common type of transaction in the foreign exchanges is a.
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Forward transaction
Spot transaction
Swap transaction
None of the above
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Question # 9
The Lorenz curve shows that
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unemployment does not affect social group
People with low income spend more
People with low income spend less
the degree of income equality in the economy
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Question # 10
A person who is made redundant because of the contraction of an industry is a victim of.
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Frictional unemployment
Demand deficient unemployment
Classical unemployment
Structural unemployment
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Question # 11
When there is a surplus in a market
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There is downward pressure on price
There is upward pressure on price
The market could still be in equilibrium
There are too many buyers chasing too few goods.
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Question # 12
Which of the following is correct for the demand and supply schedules given above.
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The demand curve is non linear
The slope of the supply curve is 4
Equilibrium quantity is 40 units
The slope of the demand curve is 0.5
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Question # 13
Local correspondent's method can be applied only where a high degree of precision is not.
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Case
Necessary
Interview
Nalied
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Question # 14
The low productivity of capital in Pakistan is due to.
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Low income
Low saving
Limited capital market
All of these
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Question # 15
A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the
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Real interest rate
Production function
Productivity relation
Marginal product
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Question # 16
Pakistan's public debt a
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LarGer than GNP
Approximately equal to GNP
Small than GNP
Smaller than our exports
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Question # 17
If the quantity of money demands is less than the quantity of money supplied then the interest rate will.
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Either increases or decrease, depending on the amount of excess demand.
Increase
Decrease
not change
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Question # 18
An increase in spending those results from expansionary _______ policy cause the interest rate to.
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fiscal ; rise
fiscal ; fall
incomes ; rise
income ; fall
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Question # 19
Guid up of foreign exchange reserves leads to.
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Decrease in money supply
increase in money supply
contraction in money supply
None of the above
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Question # 20
A rise in the exchange rate value of the rupee will most likely cause.
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A dollar to be worth less in learns of other currencies.
Imports to decrease
Exports to increase
The balance of payments curve to shift to the left
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Question # 21
Which of the following is NOT an example of non price competition the auto industry.
Choose an answer
Zero percent auto loans
Television advertising
Establishing market niches
End of the year discounts
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Question # 22
Rule of innovation in economic growth is very important according to.
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Adam smith
Richardo
Schumpter
Rostow
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Question # 23
The three main components of the aggregate demand aggregate supply model include.
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AD, SRAS, LM
SRAS, LRAS, IS
AD, IS, LM
AD, SRAS, LRAS
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Question # 24
Marginalize and the idea that pricing reflects marginal utility and demand was a movement way from
Choose an answer
the quantity theory of money
The labor theory of value
Mercantilism
None of these
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Question # 25
Demand for labour is more likely to be wage inelastic if.
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Wages are a small proportion of total costs
Demand for the final product is price elastic
It is easy to replace labour
Capital is a good substitute forlabour
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Question # 26
A change that increases the real money supply relative to real money demand causes.
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The LM curve to shift down and to the right.
The LM curve to shift up and to the left
The IS curve to shift down and to the left
The IS curve to shift up and to the right.
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Question # 27
Relation with other aspect of research creates.
Choose an answer
Values related problem
Ethical problem
Personal prejudice and bias
Moral dilemmas
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Question # 28
The marginal rate of substitution for two goods can be obtained from
Choose an answer
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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Question # 29
Indifference curve approach is also called.
Choose an answer
Law of diminishing marginal utility
Law of substitution
Ordinal measure approach
None of these
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Question # 30
The break even level of income where C = Y is
Choose an answer
200
300
500
400
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Question # 31
What does Social Researchers seek out of vast and confusing variety of individual characters.
Choose an answer
Generalizations
Decisions
Single events
group characteristics
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