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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
in 1950s following sector was ignored
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Agriculture sector
industrial sector
import sector
Services sector
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Question # 2
the purpose of research is to discover answer to questions through application of.
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Scientific method
scientific research
Scientia procedure
Social science research
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Question # 3
If the price was fixed below the equilibrium price there would be.
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Excess supply
Excess demand
Equilibrium
Down ward pressure on prices
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Question # 4
The impossibility of negative gross investment provides a______ to fluctuations in.
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Celling, stock building
Celling, capital prices
floor , output
floor , the capital output ratio
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Question # 5
With a positive externality
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There is under consumption in the free market
There is over consumption in the free market
The government may tax to decrease production
Society could be made off if less was produced
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Question # 6
By death of any partner business will be dissolved in case of
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Partnership
Musharika
Hire purchase
Mudaraba
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Question # 7
Green revolution was in the following sector
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Agricultural sector
Import sector
Services sector
Industrial sector
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Question # 8
Which of the following NOT a source of economic growth.
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Investment in new capitals
Labor productivity
Investment in human capital
Technology advances
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Question # 9
Investment depend mainly on.
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Past levels of income
Future expected profits
Present national income levels
Historic data
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Question # 10
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 # 11
The theory of ___________ suggests that government can assist domestic competitors.
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International dumping
Countervailing duties
Strategic trade policy
Export promotion policy
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Question # 12
If a firm triples all inputs and output triples as well the firm is subject to
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Constant returns to scale
Increasing returns to scale
Economies of scale
Both b and c
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Question # 13
"Income inequality can be high in the free market and should be reduce ".This is an example of what.?
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Judicial economic statement.
Positive economic statement
Formative economic statement
Normative economic statement
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Question # 14
A statistic in inferential statistics is related to which of the following.
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Sample
Population
Botha a and b
None of these
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Question # 15
If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.
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30%
10%
70%
40%
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Question # 16
It enables the researcher to relate logically known facts to intelligent guesses about unknown conditions.
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Research design
Hypothesis
Pre-Test
Pilot study
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Question # 17
If marginal revenue equals marginal cost
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No profit is being made
total revenue equals total cost
Profits are maximized
Producing another unit would increase profits
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Question # 18
The demand curve of unitary elastic commodity is.
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Rectangular hyperbola
Parabola
Straight line
None of these
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Question # 19
Social welfare is maximized when a hedonistic calculus regulates all human action according to the interventionist liberal
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John Stuart Mill
Thorstein veblen
Milton Frideman
Jeremy Bentham
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Question # 20
The central economic problem in an economy refers to.
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The prevalence of unemployment
To allocate scarce resources between competing uses.
Consumers having less money than they would like
ensure that production costs are converted by sales revenue.
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Question # 21
A single value that represent the average characteristics of tis frequency distribution.
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quarterlies
Grouped data
Central tendency
Range
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Question # 22
Those who favor setting the target rate of inflation at about 3% believe.
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The cost of moderate inflation can be minimized by indexing the tax system and bonds
that the cost of going to 0% is very low
That moderate inflation increases money illusion
Believe that moderate inflation aggravates the time inconsistency problem
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Question # 23
In the period of Zia ul Haq the nationalized enterprises went on.
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Loss
Profit
Developing
None of these
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Question # 24
The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
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Prices, wages, output and employment.
Output, prices, employment
Nominal money, the price level output and employment.
Nominal money output prices
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Question # 25
"Economics is what economists do " It has been supported by.
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Richard jones
Comte
Gunnar Myrdal
All of the above
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Question # 26
The economic logic behind granting central bank's independence from governmental the conduct of monetary policy is.
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To eliminate seignior age
To allow open market operations
To enhance the credibility of monetary policy.
None of the above
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Question # 27
A tax cut __ disposable income _____ consumption expenditure and shifts the IS curve to the.
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Increases ; increases ; right
Increases ; decreases ; left
decreases ; increases ; left
decreases ; decreases ; right
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Question # 28
If the Federal reserve conducts open market ________ the money supply _______ shifting the LM curve to the right.
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Purchases ; decreases
sales ; increases
purchases ; increases
sales ; decreases
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Question # 29
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 # 30
The value of the dependent variable where the graph cuts the y-axis is called.
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X - intercept
Y- intercept
Slope
None of these
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Question # 31
Which skills are most likely to be paid for by the employer.
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General skills
Specific skills
Educational skills
None of these
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