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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
If the price level for an economy was 100 in 1984 , 115 in 1985 and 125 in 1986 the rate of inflation between 1985 and 1986 was.
Choose an answer
105
8%
8.7%
17.5%
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Question # 2
To basic objective of sampling study is.
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To draw inference
To check units of population
To collect numerical data
To make census
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Question # 3
Contextual analysis is a type of
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Descriptive analysis
Historical analysis
Case study
Content analysis
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Question # 4
If a Set C contain all the elements which are present in both the set A and B then set C is called.
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Union of A and B
Intersection of A and B
Complement of A
Complement of B
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Question # 5
According to classical models the level of employment is determined primarily by
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Interest rates
The level of prices
The level of aggregate supply in the economy
The level of aggregate demand for goods and services
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Question # 6
When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
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depreciates, appreciates
revalues, devalues
appreciates, deprecates
becomes more expensive, becomes cheaper
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Question # 7
The purpose of fiscal policy is to
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Alter the direction of the economy
Change people's attitudes toward governemnt
Educate people as to the importance of economics
Offer insight into the way thing work
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Question # 8
When the period of Rabi crops starts and when it end.
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October - May
January - October
May- October
June - September
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Question # 9
In a free market
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Government intervene
Government plan production
Government interfere
Price adjust to reconcile scarcity and desires.
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Question # 10
Research may be made through either arbitrary method of
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Rational method
Scientific method
Imagination method
Vague method
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Question # 11
"An Enquiry into the Nature and causes of wealth of Nations" is thebook of economist.
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Adam smith
Marshall
Robbins
None of above
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Question # 12
The near term effect of an unexpected sale of bonds by the central bank is.
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An increase in interest rates, a risen investment and a rise in GDP
An increase in interest rates a drop in investment and a drop in GDP
A decrease in interest rtes a rise in investment and a rise in GDP
A decrease in interesr rates a drop in investment and a drop in GDP
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Question # 13
Total factor productivity growth is that part of economic growth due to.
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Capital growth plus labor growth
Capital growth less labor growth
Capital growth times labor growth
Neither capital growth nor labor growth
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Question # 14
For perfectly competitive firm
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Price equals marginal revenue
Price is greater than marginal revenus
Price equal total revenue
Price equals total cost
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Question # 15
A supply schedule shows the relations between the quantity supplied of a commodity over a given time and.
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Factor prices
Technology
Both a and b
The price of the commodity
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Question # 16
Based on the data above , the increase in potential MI would be
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Rs.50 billion
Rs.300 billion
Rs.60 billion
Rs.100 billion
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Question # 17
According to the cost based definition of dumping dumping occurs when a firm sets a product abroad at a price that is less than
Choose an answer
Average total cost
Average variable cost
Average foxed cost
Marginal cost
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Question # 18
A monopoly there is
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No difference between firm and industry
A few firms
Lot of firms
none of these
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Question # 19
If the reserve deposit ratio is 0.25 and the ratio of currency in circulation to deposits is 0.3, the potential money multiplier will have a value of.
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2.36
0.42
1.20
0.96
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Question # 20
A country that is a net international debtor initially experiences a.
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Larger savings pool available finance domestic spending
Higher interest rate which leads lower domestic investment.
Loss of funds to trading partners overseas
Decrease in tis services exports to other countire.
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Question # 21
Environmentalist speak of wilderness as a.
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Animal hertage
Moralists heritage
Environmental heritage
World heritage
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Question # 22
Find the change in revenue to the industry due to the taxs.
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Rs. 40 billion
Rs. 34 million
Rs.25 million
Rs.36 Million.
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Question # 23
Laboratory experiments cannot be performed in economics because.
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Of resource scarcity
Economics is a natural science
Of the difficulty of distinguishing between normative and positive statements.
Economics is a social science
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Question # 24
A tax increase __________ disposable income ____ consumption expenditure and shifts the IS curve to the.
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Increase; increases ; right
Increase ; decreases ; left
decreases ; increases ; left
decreases ; decreases ; left
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Question # 25
By restricting labour supply a trade union can _________ and_______
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Increase the wage, increase employment
Maintain the wage, increase employment
Increase the wage lower employment
Maintain the wage, lower employment
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Question # 26
According to Keynes, the level of employment is determined by
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Interest rates
The level of prices
The level of aggregate supply in the economy
The level of aggregate demand for goods and services.
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Question # 27
The term of trade is given by theprices.
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Paid to all goods exported by the home country
Received for all goods exported by the home country
Received for exports and paid for imports.
Of primary products as opposed to manufactured products.
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Question # 28
Aggregate demand will increase if
Choose an answer
Consumption falls
Investment falls
Exports fall
imports fall
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Question # 29
When there is a surplus in a market
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There is downward pressure on price
There is upward pressure on price
The market could still be in equilibrium
There are too many buyers chasing too few goods.
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Question # 30
The book Summa Theologica ' ws written by
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Plato
Aristotie
St. Thomas Aquinas
St. Augustine
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Question # 31
What did economist Adam Smith identity as the "invisible hand" that directs the decision making of firms and households in a market economy.
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Government
Product demand
Self interest
International trade
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