Question # 1

Which of the following explains why demand curves slope downward.

Choose an answer

Prices and income

substitutes and complements

Resources and technology

Substitution effect and income effect

The origin of Agriculture is from

Choose an answer

Australia

Central china

America

None of these

For given government spending and taxation the government budget deficit will grow in __________ and decline in _________

Choose an answer

booms, booms

recession, recession

booms, recessions

recessions, booms

One of the following is the renowned book of Imam Abu Yousaf

Choose an answer

Kitab ul khiraj

Kitab ul Anwal

Kitab ul Aloom

All of the sese

While -Collar work force is categorized as

Choose an answer

Secondary production

Tertiary production

Quarterly services.

None of these

In 25 years Pakistan's Per capital income

Choose an answer

More than doubled

Less than doubled

Did not show more than 70% increase

None of the above

The term of trade in Pakistan remained unfavorable regarding.

Choose an answer

Industrial sector

Services sector

Agricultural sector

All of these

The movement of disguised unemployment is.

Choose an answer

integrating factor

Social factor

push and pull factor

All of these

An increase in wealth that doesn't affect labor supply would cause the IS curve to _________ and the FE line to ____________

Choose an answer

Shift down and to the left be unchanged

Shift down and to the left shift left

Shift up and to the right be unchanged

Shift up and to the right shift left

Why might a country resist globalization.

Choose an answer

Greater choice of final products

Greater choice of supplies

Greater competition for domestic firms

More markets to sell to

Projects A,B,C,D,E cost Rs. 100, Rs, 200, Rs. 300, Rs. 400, and Rs. 500 with MEC's of 0.07, 0.06,0.09 ,0.10 and 0.11 respectively. The market rate of interest is 8% Total investment spending is

Choose an answer

Rs. 1500

Rs.1300

Rs.1200

Rs.300

The income elasticity of demand

Choose an answer

Is negative for normal goods

Is positive for normal goods

Equals the relative change in demand for a good divided by the relative change in the iincome of consumers all else being equal

Is correctly described by all of the above

It is quantity that expresses a quantity in numbers to allow in numbers to allow more praise measurement.

Choose an answer

Variable

Concept

Attribute

Definition

An increase in interest rates.

Choose an answer

Is likely to reduce savings

Is likely to reduce the external value of the currency

Leads to a shift in the MEC schedule

Leads to a movement along the MEC schedule

The elements in the Horizontal line in a matrix is called.

Choose an answer

Columns

Rows

Elements

Diagonal

The research is a systematic gathering of information among individuals and collectives.

Choose an answer

Case study

Survey

Content analysis

Census Report

Given the demand function qo = -8p +2000 and tis inverse p = -1/8 qo + 250 ,p in the inverse function which is interpreted as the maximum price that buyers are willing to pay for the.

Choose an answer

Supply price

Demand price

Equilibrium price

Reserved price

In economics, the term 'scarcity' refers to the fact that

Choose an answer

Everything worthwhile costs money

No society is able to produce enough to fully satisfy the desires of people for goods.

Even in wealthy societies, like the united states, some people are poor

sometimes shortages of product result if its price is set too low.

In any urban are there are people who have had healed wounds

The set of subsets of a set A is called.

Choose an answer

Power set of A

Complement of A

Both a and b

None of these

According to the efficiency wage model during a recession firms will not reduce real wages because.

Choose an answer

Unions would go on strike reducing profitability

This would reduce worker effort and productivity.

The equilibrium real wage has increased

Legally, they can't

Perfect price discrimination means that every customer.

Choose an answer

Buys the same amount

Pays the same price

Pays what she thinks the product is worth

Contributes the same revenue.

Those who argue in favor of import protection generally give the impression that such restricted trade will.

Choose an answer

Decrease the level of national security

Provide benefits to some particular industry

Provide benefits to the entire nation

Not yield welfare losses for the nation

A politician proposes reducing business taxes, a move she says will encourage risk taking entrepreneurship This proposed cut in business taxes is intended to stimulate the economy mainly though.

Choose an answer

An increase in aggregate supply

A decrease in aggregate supply

A decrease in aggregate demand

An increase in aggregate demand

Through the world government tend o auction quota license to their highest bidder.

Choose an answer

Always

Often

Seldom

Never

A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the.

Choose an answer

Real interest rate

Productivity relation

Production function

Marginal product

The ____ lag for fiscal policy is generally _____ than it is for monetary policy.

Choose an answer

Recognition ; shorter

Recognition ; longer

Implementation ; shorter

Implementation ; longer

The AD schedule indicates that______ inflation is associated with______ output.

Choose an answer

higher , lower

Higher , higher

Lower , lower

zero ,zero

What did economist Adam Smith identity as the "invisible hand" that directs the decision making of firms and households in a market economy.

Choose an answer

Government

Product demand

Self interest

International trade

International difference in opportunity costs lead to countries acquiring.

Choose an answer

Comparative advantage

High exchange rates

Trade exchange rates

Trade barriers

The long run aggregate supply curve.

Choose an answer

Is vertical

Slopes upward

Is horizontal

Slopes downward

The ethics, importance is given tobio sphere and the large eco system.

Choose an answer

Life centered animal

Ecological holism

Environmental

animal

More Classes

Other Links

PPSC Economics Full Book MCQ Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer