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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
Macro economics deals with
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Only the decisions made by individuals and their results.
Only the decisions made by businesses and their results.
Mostly large scale decisions made by countries and governments, and their results.
Only the decisions made by individuals but not the results.
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Question # 2
The ratio of the change in the equilibrium level of income to a change in some automats increase in spending is the
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Elasticity coefficient
Multiplier
Automatic stabilizer
Marginal propensity of the autonomous variable
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Question # 3
Since 1960, the rate of economic growth in the country has been
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On the decline continuously
Increasing continuously
Increasing occasionally
Static in real terms
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Question # 4
A negative definite Hessian fulfills the second order conditions for.
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Maximum
Minimum
both maximum and minimum
Mini max
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Question # 5
If inflationary expectations increase, the short run Phillip's curve will
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Become vertical
Become up warding sloping
Shift to the right
Shift to the left
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Question # 6
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 # 7
In the calculation of gross domestic product net exports are.
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The sum of merchandise trade and services
The current account plus long term capital
The value of merchandise exports minus imports
Short term capital plus the basic balance
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Question # 8
According to the crowding out effect, a there is a government deficit, the real interest rate will.__________ and investment will_________
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rise ; rise
fall ; rise
rise ; fall
fall ; fall
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Question # 9
A decrease in the quantity of money supplied shifts the money supply curve to the________ and the equilibrium interest rate
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right ; fall
right ; rises
left ; falls
left ; rises
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Question # 10
Ordinal measurement approach was not presented by
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Allen
Hicks
Edge worth
Robbins
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Question # 11
The agricultural price support program is an example of.
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A price celling
A price floor
Equilibrium pricing
None of these
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Question # 12
The data indicates that country A in billions of rupees is experiencing a
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A deficit of Rs.60
A surplus of Rs. 300
Deficit of Rs.900
A deficit of Rs. 500
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Question # 13
National Income account of Pakistan have registered GDP & GNP as.
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GDP = GNP
GDP < GNP
GDP > GNP
GDP / GNP
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Question # 14
If equilibrium national income is less than the full employment the gap can be closed by.
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Raising taxes
Decreasing government expenditures
Raising taxes and decreasing government expenditures.
Increasing government expenditures.
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Question # 15
The price elasticity of demand measures
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The responsiveness of quantity demanded to a change in prie.
How far a demand curve shifts
A change in price
A change in quantity demanded
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Question # 16
When the price of foreign currency exchange is above the equilibrium level.
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An excess demand for that currency exists in the foreign exchange market.
An excess supply of the currency exists in the foreign exchange market
The demadn for foreign exchange shifts outward to the right
The demand for foreign exchange shifts backward to the left.
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Question # 17
Research is directed towards the solution of immediate , specific and practical problem is called.
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Basic
Applied
Diagnostic
Descriptive
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Question # 18
The notion of relationship is important is.
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Land ethics
Deep ecology
Deontology
Ecosopy
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Question # 19
If there is a price celling which of the following is NOT likely to occur.
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Rationing by first come first served
Black markets
Gray markets
Sellers providing goods for free that were formerly not free
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Question # 20
As a plural noun, who defined statistics very adequately and realistically
Choose an answer
Webster
Bowley
A.M. Tuttle
Prof. H. secrist
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Question # 21
Social science research is a systematic method o exploring, analyzing and extend, corrector or verify knowledge of human behavior and.
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Aqua life
Natural life
Social life
Envioment
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Question # 22
The theory of ___________ suggests that government can assist domestic companies in capturing economic profits from foreign competitors
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International dumping
Countervailing duties
Strategic trade policy
Export promotion policy
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Question # 23
In 1960s following policy was adopted regarding development
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Port substitution
Agriculture development
Export promotion
All of these
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Question # 24
State monopoly was greatly imposed in the period of.
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Nawaz Sharif
Z.A.Bhutto
Zia ul Haq
None of these
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Question # 25
The short term interest rates on bonds over the next 5 years is 6% , 7%, 9% ,10% and 8% according to the expectations Hypothesis, the interest rates on bonds with 5 years to maturity will be.
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6%
8%
10%
9%
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Question # 26
When GNP is Rs.500 billion and consumption expenditures are Rs.300 billion.
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the MPC is 6
The MPS is 4
The Multiplier is 2.5
None of the above
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Question # 27
The marginal product of labor
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Is measured by the slope of the production function relating capital of employment
Is larger when the labor supply is relatively larger
Is smaller when the labor supply is relatively smaller
Decreases as the number of workers already employed increases
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Question # 28
The IS curve shifts to the left when
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Taxes increase
Government spending increase
The money supply increases
All of the above occur
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Question # 29
Following is the important feature of the Islamic economic system.
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Zakat
Usher
Mudaraba and Musharika
All of these
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Question # 30
If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.
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40
120
80
None of the above
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Question # 31
The main role of the Federal Reserve is to
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Administer the government on the state of the economy
Overses the operations of the financial system and monetary management.
Establish the value of the dollar and official interest rates
Provide advice to the government on the state of the economy.
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