Question # 1

MRSxy being 6 means

Choose an answer

Consumer is willing to give up 6 units of x for one of y

Preference for y is 6 times that of x

Both of the above

None of these

In 1950's special imporant was given to

Choose an answer

Industrial sector

Services sector

Imports sector

Agricultural sector

The supply curve of a monopolist is always.

Choose an answer

More elastic

Less elastic

undefined

Steeper

Research is directed towards the solution of a

Choose an answer

Problem

Hypothesis

data

Survey

"Treating an individual as typical of a group.

Choose an answer

Pure discrimination

statistical discrimination

Human capital

Specific skills

Biocentrism comes under

Choose an answer

Life centrism

Ecologism

Anthropocentrism

Materialism

A monopolist will discontinue production if

Choose an answer

Marginal revenue is less than marginal cost

Marginal revenue is less than average total cost

Marginal revenue is less the average fixed cost

Price is less than average variable cost

A country transactions with the rest of the world are recorded in the

Choose an answer

Balance of international indebtedness

Balance of financial transactions

Balance of payments

Income statement

In perfect price discrimination

Choose an answer

Consumer surplus is maximized

Produce surplus is zero

Community surplus is maximized

Consumer surplus is zero

The costs of inflation are

Choose an answer

Shoe leather costs

Menu costs

Income redistribution

All of the above

Headquarter of the Planning commission of Pakistan is located in.

Choose an answer

Karachi

Lahore

Islamabad

None of these

In contract to perfectly competitive markets monopolists

Choose an answer

Do no have to worry about market demand

Sell only if demand is inelastic

Can never incur an economic loss

Can earn an economic profit indefinitely

The prominent meaning of statistic

Choose an answer

Data , its analysis and interpretation

Observation of samples

Method for analyzing numbers

conducting census

Similar to import tariffs import quotas tend to result in.

Choose an answer

Higher prices ad reduced imports

Increased government revenue

Increases consumer surplus

Decreased producer surplus

A demand curve that is an equilateral hyperbola is.

Choose an answer

Perfectly elastic

Relatively elastic

Unit elastic

Relatively inelastic

The marginal product of labor

Choose an answer

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

Comparing a monopoly and a competitive firm the monopolist will.

Choose an answer

Produce less at a lower price

Produce more at a lower price

Produce less at a higher price

Produce less at a lower price

Equilibrium in the money markets can be expressed by the equation i = 9k/h) Y -M/h. The slope of LM decrease when

Choose an answer

k increases and h increase

k increases and h decrease

k decrease and h increase

k decrease and h decrease

If desired spending in the economy exceeds income we would expect.

Choose an answer

House hold to save more

Firm to produce less

Firms is produce more

the MPC to change

An increase in the expected future marginal product of capital would cause the IS curve to.

Choose an answer

Shift up and to the right

Shift down and to the left

Remain unchanged if firms face borrowing constraints otherwise shift down and to the left

Remain changed

Open market operations occur when the government.

Choose an answer

Reduces the interest rate

Buys and sells bonds and securities

Increases taxation

Increases the exchange rate

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Choose an answer

rise

fall

not change

fluctuate

When all markets in the economy are simultaneously in equilibrium we say.

Choose an answer

Markets are complete

Markets are perfect

There is disequilibrium

There is general equilibrium.

Which stage guides from the planning stage to the stag of drawing of final conclusions.

Choose an answer

Numerical facts

Statistical methods

Data

None of the above

The recording of the data is dome on the basis of the scheme.

Choose an answer

coding

Tabulation

Classification

Analysis

Suppose a new law imposes a tax on all trades of bonds and stock What is the likely effect on money demand.

Choose an answer

Money demand declines first then rises when inflation increases

Money demand rises

The overall effect is ambiguous

Money demand declines

If a country has a bowed out production possibility frontier then production is said to be subject to.

Choose an answer

Constant opportunity costs

Decreasing opportunity costs

First increasing and than decreasing opportunity costs

Increasing opportunity costs

Which device is good to measure variation in open end distribution.

Choose an answer

Quartile deviation

Range

Mean deviation

Variance

In the Keynesian corss diagram, and cline in autonomous consumer expenditure causes the aggregate demand function to shift down the equilibrium level of aggregate output to___________ and the IS curve to shift to the.

Choose an answer

up ; left

up ; right

down ; left

down ; right

The business cycle describes fluctuations in output around the.

Choose an answer

Trend path of output

Boom

Recession

Short run fluctuations in output

The short run impact of unanticipated expansionary monetary policy is that.

Choose an answer

Real output decrease

Employment decreases

Real interest rates decrease

Profit margins decrease

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