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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
The impact of contractionary fiscal policy, according to new classical theory is that.
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Real interest rates do not change
Aggregate demand increase
Current real output substantially decreases
The price level substantially increases.
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Question # 2
Plan for research is labeled as.
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Case study
Research design
Intensive study
Exploratory research
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Question # 3
The Keynesian theory is consistent with the business cycle fact that inflation is
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Procyclical and leading
Procyclical and lagging
Countercyclical and leading
All of these
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Question # 4
The central metaphor of deep ecology is.
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Network
Hierarchy
Patriarchy
Domination
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Question # 5
If the coefficient of income elasticity is negative.
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Inferior good
Normal good
Luxury good
All of these
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Question # 6
The demand for labor will be more elastic if
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There are few substitutes for labor
There is a shor time under consideration
Labor is a large percent of the total cost of production
The demand for the product is relatively inelastic
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Question # 7
According to the factor price equalization theorem, the ______ factor should oppose free trade policies in any given country.
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Abundant
scarce
Neither
Can't tell without more information
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Question # 8
A disadvantage of the barter system is that
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No trade occurs
People must produce all their own food clothing and shelter
The opportunity to specialize is greatly reduced.
Gold is the only unit of account
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Question # 9
a contractionary monetary policy
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Reduces interest rtes
Reduces real output
shifts the LM curve to the right
All of the above
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Question # 10
Which of the following assets is most liquid.
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Shares of stock in IBM
Land
Gold
Currency
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Question # 11
The bowed shape of the production possibilities curve illustrates
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The law of increasing marginal cost
the production is inefficient
the production in unattainable
The demand is relatively inelastic
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Question # 12
In perfect competition.
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the products firm offer are very similar
Products are heavily differentiated
A few firms dominate the market
Consumers have limited information
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Question # 13
The type of business in which an individual has unlimited responsibility for the debts of the organization.
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Partnership
Corporation
Monopoly
None of these
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Question # 14
The classical are of the view that utility can be.
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Ranked
Counted
Expressed in numbers
Not counted
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Question # 15
More trade and more and is the demand made by the
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Developing countries
Developed countries
More developed countries
Non developing countries
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Question # 16
Which of the following strategies have developing countries not used to deal with the problem of unstable expert markets.
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Multilateral contracts
Production and export controls
Buffer stock arrangements
Tariff rate quotes
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Question # 17
_________ are quotas that lead to a complete abolishment of trade.
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Embargoes
Voluntary export restraints
Nontariff beamers
Orderly marketing agreements
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Question # 18
Which of the following is incorrect with respect to the consumption diagram.
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the interest rate is a premium
MRS = (i +r)
The consumer will be lender in time zero
The consumer lends 700
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Question # 19
Which of the following will cause a monetary induced change versus a fiscal induced change in equilibrium income as determined.by IS - LM analysis.
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A shift in the consumption function
A shift in government expenditures
A change in liquidity preference
A change in a government expenditures
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Question # 20
Division of labor is made according to the size of market is the view of
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M.P.Todaro
Leibstein
Rostow
Adam smith
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Question # 21
The low point in the business cycle is referred to as the
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Expansion
Boom
Trough
Peak
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Question # 22
When real income increases, other things equal we fan expect the demand for real money holdings to.
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Fall
Not change
Increase
Decrease
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Question # 23
A business cycle refers to.
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Fluctuations in the general price level
changes in the long term growth pattern of the CPI
The ups and downs of real GDP
Fluctuations in the level of corporate.
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Question # 24
Assume a cosumer buys 25 units of good X at Rs.8 and 10 units of good Y at Rs. 6 in 1980. If Px = Rs. 6 and Py = Rs. 4 in 1970 the pasasche index is.
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1.14
1.65
1.37
1.47
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Question # 25
The "balance of trade" is a record of.
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Exports and imports of financial assets
The current account plus capital account
The net export of goods and services
The value of merchandise exports minus imports
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Question # 26
Research simply mesa a search for.
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Problems
Facts
Results
Topic
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Question # 27
The main source of interest profits for banks is.
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Checking account fees
Loans
Government securities
Savigng accounts
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Question # 28
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
Productivity relation
Production function
Marginal product
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Question # 29
Yin has defined case study is investigating the contemporary phenomena of.
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Natural
Real life
Inexplicable
Explainable
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Question # 30
Economics assumes that people consume goods and services to achieve.
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Status
Prestige
Utility
Self esteem
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Question # 31
When IMF was established.
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1944
1945
1946
1947
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