Question # 1

As long as the principle of diminishing marginal utility is operating any increased consumption of good.

Choose an answer

Lowers total utility

Produces negative total utility

Lower marginal utility and therefore total utility

Lowers marginal utility, but may raise total utility.

A disadvantage of chain weighting is that

Choose an answer

Past inflation rates change whenever the base year changes.

Past growth rates of real GDP change whenever the base year changes.

It causes output growth to slow

The components of real GDP don't sum to real GDP

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Choose an answer

15%

20%

25%

30%

"An Enquiry into the Nature and causes of wealth of Nations" is thebook of economist.

Choose an answer

Adam smith

Marshall

Robbins

None of above

To ensure that the fundamental identity of national income accounting holds changes in inventories are.

Choose an answer

Ignored

Counted as consumption

Treated as part of saving

Treated as part of expenditure

As long as the principle of diminishing marginal utility is operating any increased consumption of a good.

Choose an answer

Lowers total utility

Produces negative total utility

Lowers marginal utility and therefore total utility

Lowers marginal utility, but may raise total utility.

International difference in opportunity costs lead to countries acquiring.

Choose an answer

Comparative advantage

High exchange rates

Trade exchange rates

Trade barriers

Which of the following is a possible government objective as opposed to a policy.

Choose an answer

Lower interest rates

Lower taxation rates

Lower government spending

Lower inflection

Less Developed countries lend to have

Choose an answer

A high average age

A slow population growth rate

High life expectancy

A low literacy rate

The school of deep ecology was founded by

Choose an answer

J.S.Mill

Kant

Naes

Aristotle

Social research aims at.

Choose an answer

Integration

Social harmony

National integration

Social equality

National Bank of Pakistan is one of the largest commercial bank operating Pakistan it was established.

Choose an answer

1948

1949

1952

1953

The government budget surplus equals

Choose an answer

Government purchases plus transfers

Net government receipts minus government purchases

Government purchases minus net receipts

Government purchases minus transfers.

Within circular flow of income, an increase in domestic income iwll lend to increase.

Choose an answer

Exports

Taxes

Inventories

Imports

Which trade theory contents that a country that initially develops and exports a new product may eventually become an importer of if ,a nd may no longer manufacture the product.

Choose an answer

Theory of factor endowments

Theory of overlapping demands

Economies of scale theory

Product life cycle theory.

Demand for primary products is likely to be

Choose an answer

Very sensitive to price

Price elastic

Unit elastic

Income inelastic

In monopolistic competition if firms are making abnormal profit other firms will enter and

Choose an answer

The marginal cost will shift outwards

the demand curve will shift inwards

The average cost will shift downwards

The average variable cost will increase

Import substitution is an example of

Choose an answer

The principle of comparative advantage

The pricnipal of absolute advantage

An outward looking growth strategy

An inward looking growth strategy

To help developing nations strengthen their international competitive rises many industrial nations have granted non nations udder the .

Choose an answer

International commodity engravement's program

Multilateral contract program

Generalized system of preferences program

Export led growth program

Specific tariffs are collected as

Choose an answer

Fixed amount of money per unit traded

a percentage of the price of the product

A percentage of the quantity of imports

All of the above

The law of diminishing marginal returns to a factor of production is.

Choose an answer

Not applicable

Another explanation of economies of scale

A principle of scales

None of these

Suppose the intersection of the IS and LM curves is to the left of the FE line A decrease in the price level would most likely. eliminate a disequilibrium among the asset labor and goods markets by.

Choose an answer

Shifting the LM curve down and to the right

Shifting the IS curve up and to the right

Shifting the IS curve down and to the left

Shifting the FE curve to the left

An increase in the money supply shifts the LM curve to the right causing the interest rate to __________ and output to.

Choose an answer

rise ; rise

rise ; fall

fall ; rise

fall ; fall

Indifference curve is alwyas.

Choose an answer

Vertical

Horizontal

Concave

Convex

Which of the following are functions of inferential statistics.

Choose an answer

Estimation

Testing of hypothesis

Both a and b

None of these

Everyone's absolute income doubles family A's APC, according to the simple Keynesian consumption function is expected to.

Choose an answer

Fall

Double

Increase

Halve

Advocates of industrial policy maintain that government should.

Choose an answer

Purse free trade as a policy that leads to maximum global efficiency

Grant subsides to firms offering potential comparative advantage.

Provide loans to domestic workers in exporting industries.

Increase interest rates on loans made to firms in import competing industries.

If B is a subset of A, then AUB =

Choose an answer

B

Intersection of A and B

A

None of these

The matrix A multiplies by its inverse will b e a.

Choose an answer

Identity matrix

Skew symmetric matrix

Idempotent matrix

Adjoin of a matrix

As the required reserve ratio is decreased the money multiplier.

Choose an answer

Could either increase or decrease

Remains the same as long as banks hold no excess reserves

Increase

Decreases

In perfect competition the transpiration cost

Choose an answer

Excluded from the total cost

Is important figure in total cost

Is ignored

All of these

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