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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
If two firms doing the same thing in the same industry join together this is known as a.
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vertical merger
Horizontal merger
Conglomerate merger
Hostile takeover
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Question # 2
That the division of labor is limited by the size of the market best applies to which explanation of trade.
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Factor endowment theory
Product life cycle theory
Economies of scale theory
Overlapping demand theory
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Question # 3
Which of the following measures is the best measure of money as a medium of exchange.
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M1
M2
M3
None of the above
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Question # 4
Devaluation leads to.
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Increase in imports
Increase in exports
Decline in imports
None of the above
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Question # 5
The long run is a time period that is.
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Five years or longer
Long enough to change the level of labor hired
Long enough to change the size of the firm's plant
Ten years or longer
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Question # 6
The money multiple tells us teh ultimate increase in.
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The income level due to an increase in the money base
The money supply due to an increase in the money base.
The money supply due to an increase in the income level
The income level due to an increase in the money supply
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Question # 7
When the export function is Rs.100-0.2 Y , net exports are 0 when income is .
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Rs.300
Rs.400
Rs.500
Rs.600
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Question # 8
Credit (+) items in the balance of payments correspond to anything that.
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Involves receipts from foreigners
Involves payments to foreigners
Increases the domestic money supply
Decrease the demand for foreign exchange
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Question # 9
Rapid increases in the price level during periods of recession or high unemployment are known as.
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Slump
Stagnation
Stagflation
Inflation
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Question # 10
Tax incidence is the
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Ultimate distribution of a tax's burden
Measure of the inpat the tax has on employment and output
Behavior of shifting the tax to another party
Structure of the tax
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Question # 11
For a Muslim living within the code of Islam primary source for the the solution of economic problems is.
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the Holy Quran
Sunnah
Both a and b
None of these
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Question # 12
When marginal revenue equals marginal cost
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Total revenue equal total cost
There is the biggest positive difference between total revenue and total cost
there is the biggest negative difference between total revenue and total cost.
Profits are zero
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Question # 13
A business cycle refers to.
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Fluctuations in the general price level
changes in the long term growth pattern of the CPI
The ups and downs of real GDP
Fluctuations in the level of corporate.
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Question # 14
Forced labor is one of the greatest injustice in the world according to.
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Imam Abu Yousaf
Imam Abu Qasim
Khalil Jabran
Ibn e Khaldun
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Question # 15
Plan for research is labeled as.
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Case study
Research design
Intensive study
Exploratory research
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Question # 16
Interview guide leaves as a suggestive reference or prompter during.
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Interview
Field note
Diary
Interview schedule
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Question # 17
In pure monopoly what is the relation between the price and teh marginal revenue.
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The price is greater than the marginal revenue
The price is les than the marginal revenue
There is no relation
They are equal
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Question # 18
A good that is used as a medium of exchange as well as being a consumption good is called.
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A barter money
A commodity money
A legal tender
A debased money
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Question # 19
"Economics is a science " the basis of this statement is.
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Relation between causes and effect
Use of deductive method and inductive method for the formations of laws
experiments
All of the above
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Question # 20
The term focused group was coined by
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Powel
Merton
Eruest Dichter
Mitchell
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Question # 21
Since 1960, the rate of economic growth in the country has been
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On the decline continuously
Increasing continuously
Increasing occasionally
Static in real terms
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Question # 22
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 # 23
The law of demand states that.
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As the quantity demanded rises, the price rises.
As the price rises the quantity demanded rises
As the price rises, the quantity demanded falls.
As supply rises, the demand rises.
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Question # 24
Marginalize and the idea that pricing reflects marginal utility and demand was a movement way from
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the quantity theory of money
The labor theory of value
Mercantilism
None of these
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Question # 25
The developing countries need to have a big push or big comprehensive package for economic development is the view of.
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Nurkse
M.P Todaro
Rosenstein Rodan
Leibenstein
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Question # 26
In the economy when a steel producer sells steel to car producer it is regarded as.
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A final good
An intermediate good
an injection
a leakage
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Question # 27
Which of the following concepts represents the extra revenue a firm neceives from the services of an additional unit of a factor of production.
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Total revenue
Marginal physical product
Marginal revenues product
Marginal revenue
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Question # 28
All of the following represent obstacles to LDC development except.
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Resource scarcity
Low level of investment
Low population
Poor infrastructure
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Question # 29
An autonomous increase in the value of the domestic exchange rate.
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Increases output net exports and the interest rate.
Decreases output net exports and the interest rate
Decreases output and net exports and increases the interest rate.
Increase output and decreases net exports and the interest rate.
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Question # 30
In Production of goods and services tradeoffs exist becasue.
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Buyers and sellers often negotiate prices
Society has only a limited amount of productive resources
Not all production is efficient
Human wants and needs are limited at a particular point in time
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Question # 31
Why might a country resist globalization.
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Greater choice of final products
Greater choice of supplies
Greater competition for domestic firms
More markets to sell to
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