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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
MRSxy being 6 means
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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
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Question # 2
In 1950's special imporant was given to
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Industrial sector
Services sector
Imports sector
Agricultural sector
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Question # 3
The supply curve of a monopolist is always.
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More elastic
Less elastic
undefined
Steeper
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Question # 4
Research is directed towards the solution of a
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Problem
Hypothesis
data
Survey
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Question # 5
"Treating an individual as typical of a group.
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Pure discrimination
statistical discrimination
Human capital
Specific skills
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Question # 6
Biocentrism comes under
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Life centrism
Ecologism
Anthropocentrism
Materialism
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Question # 7
A monopolist will discontinue production if
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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
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Question # 8
A country transactions with the rest of the world are recorded in the
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Balance of international indebtedness
Balance of financial transactions
Balance of payments
Income statement
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Question # 9
In perfect price discrimination
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Consumer surplus is maximized
Produce surplus is zero
Community surplus is maximized
Consumer surplus is zero
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Question # 10
The costs of inflation are
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Shoe leather costs
Menu costs
Income redistribution
All of the above
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Question # 11
Headquarter of the Planning commission of Pakistan is located in.
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Karachi
Lahore
Islamabad
None of these
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Question # 12
In contract to perfectly competitive markets monopolists
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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
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Question # 13
The prominent meaning of statistic
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Data , its analysis and interpretation
Observation of samples
Method for analyzing numbers
conducting census
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Question # 14
Similar to import tariffs import quotas tend to result in.
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Higher prices ad reduced imports
Increased government revenue
Increases consumer surplus
Decreased producer surplus
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Question # 15
A demand curve that is an equilateral hyperbola is.
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Perfectly elastic
Relatively elastic
Unit elastic
Relatively inelastic
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Question # 16
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 # 17
Comparing a monopoly and a competitive firm the monopolist will.
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Produce less at a lower price
Produce more at a lower price
Produce less at a higher price
Produce less at a lower price
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Question # 18
Equilibrium in the money markets can be expressed by the equation i = 9k/h) Y -M/h. The slope of LM decrease when
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k increases and h increase
k increases and h decrease
k decrease and h increase
k decrease and h decrease
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Question # 19
If desired spending in the economy exceeds income we would expect.
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House hold to save more
Firm to produce less
Firms is produce more
the MPC to change
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Question # 20
An increase in the expected future marginal product of capital would cause the IS curve to.
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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
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Question # 21
Open market operations occur when the government.
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Reduces the interest rate
Buys and sells bonds and securities
Increases taxation
Increases the exchange rate
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Question # 22
During periods of rising inflation and rising interest rates we expect the demand for real cash to.
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rise
fall
not change
fluctuate
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Question # 23
When all markets in the economy are simultaneously in equilibrium we say.
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Markets are complete
Markets are perfect
There is disequilibrium
There is general equilibrium.
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Question # 24
Which stage guides from the planning stage to the stag of drawing of final conclusions.
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Numerical facts
Statistical methods
Data
None of the above
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Question # 25
The recording of the data is dome on the basis of the scheme.
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coding
Tabulation
Classification
Analysis
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Question # 26
Suppose a new law imposes a tax on all trades of bonds and stock What is the likely effect on money demand.
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Money demand declines first then rises when inflation increases
Money demand rises
The overall effect is ambiguous
Money demand declines
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Question # 27
If a country has a bowed out production possibility frontier then production is said to be subject to.
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Constant opportunity costs
Decreasing opportunity costs
First increasing and than decreasing opportunity costs
Increasing opportunity costs
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Question # 28
Which device is good to measure variation in open end distribution.
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Quartile deviation
Range
Mean deviation
Variance
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Question # 29
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.
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up ; left
up ; right
down ; left
down ; right
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Question # 30
The business cycle describes fluctuations in output around the.
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Trend path of output
Boom
Recession
Short run fluctuations in output
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Question # 31
The short run impact of unanticipated expansionary monetary policy is that.
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Real output decrease
Employment decreases
Real interest rates decrease
Profit margins decrease
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