Question # 1

The Isoquant curve shows different combinations of two factors of production which give the producer.

Choose an answer

Different level of output

High level of output

low level of output

Same level of output

The business cycle is not transmitted from one country to another through.

Choose an answer

Private sector imports and exports

Economic policy

The duration of compulsory education

Labour supply changes

The largest source of tax revenue for the federal government is.

Choose an answer

The personal income tax

The social security tax

The property tax

The sales tax

Ibn-e Khaldun discussed in detail the principles of.

Choose an answer

Taxation

Terms of trade

Term of rent

Duties of ruler

Academic community is otherwise called.

Choose an answer

General public

Target audience

Participant audience

Scientific community

A system of systematically interrelated concepts, definitions and propositions that are devanced to explain and predict phenomena define dby

Choose an answer

Jack gibbs

PV Young

Black

Roae Arnold

The "balance trade" is a record of.

Choose an answer

Exports and imports of financial assets

The current account plus capital account

The export of goods and services.

the value of merchandise exports minus imports

"Principles of economics" is the book of

Choose an answer

Robbins

Adam smith

Hicks

Marshall

To move from point E to point E1 is consistent with.

Choose an answer

Expectations of a constant price level

Adaptive expectations that have no adjustment for the period immediately following a change in the actual price

Rational expectations and NCM

A and B

A market can accuretaly be described as

Choose an answer

A place to buy things

a place to sell things

The process by which prices adjust to reconcile the allocation of resources

a place where buyers and sellers meet.

The price elasticity of demand will increase with the length of the period to which the demand curve pertains because.

Choose an answer

Consumers incomes will increase

The demand curve will shift toward

All prices will increase over time

Consumers will be better able to find substitutes

Given fixed change rate assume Pakistan initiates expansionary monetary and fiscal polices to combat recession these policies will also.

Choose an answer

Increase both imports and exports

Increase exports and reduce import

Reduce a balance of payments surplus

Reduce a balance of payment deficit

If a Canadian dollar costs 0.75 in terms of U.S. dollars, how much Canadian money would an American need to spend in Canada to get a dollar's worth of U.S. value.

Choose an answer

25$

99$

Rs.1.25

Rs.1.13

An indifference curve shows various combinations to goods Which gives the consumer.

Choose an answer

Equal level of utility

Low level of utility

High level of utility

None of these

More trade and more and is the demand made by the

Choose an answer

Developing countries

Developed countries

More developed countries

Non developing countries

In pure monopoly what is the relation between the price and teh marginal revenue.

Choose an answer

The price is greater than the marginal revenue

The price is les than the marginal revenue

There is no relation

They are equal

A linear homogenous production function would reveal.

Choose an answer

Constant returns to scale

Increasing returns to scale

Decreasing return to scale

Doubling all inputs would more than double output

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

Choose an answer

The upward accelerator

The downward multiplier

The upward PPF

The downward MPC

The long run Phillips curve is

Choose an answer

Vertical

Horizontal

Upward sloping

Downward sloping

The purpose of making assumptions in economic model building is to.

Choose an answer

Force the model to yield the correct answer

Minimize the amount of work an economist must do

simplify the model while keeping important details.

Express the relationship mathematically.

Interview guide leaves as a suggestive reference or prompter during.

Choose an answer

Interview

Field note

Diary

Interview schedule

Debt repayment defense spending and general administrative expenditures consume ___ of Pakistan's annual budget.

Choose an answer

60 percent

65 percent

70 percent

80 percent

a possible use in encomia's for the circle or the ellipse is to model.

Choose an answer

Production possibility curve

Demand cuve

Isocost liine

Supply curve

A rise in the price of bond causes the yield of the bond to.

Choose an answer

Rise

Fall

Remain unchanged

Rise uf ut's a short term bond, fall if it's a long term bond

The supply curve of a perfectly competitive firm

Choose an answer

Includes the upward sloping portion of the marginal cost

Is equal to entire margin cost

Includes the downward sloping portion of marginal cost

None of these

According to the permanent income hypothesis all increases in .

Choose an answer

Permanent income are saved

Permanent income are consumed

transitory income are saved

Transitory income are consumed

When the economy goes into are cession there's an increase in.

Choose an answer

Frictional unemployment

structural unemployment

Cyclical unemployment

Voluntary unemployment

The average total cost when 20 units of output are produced is

Choose an answer

Rs. 2,900

Rs.195

Rs. 20

Rs.900

The Keynesian theory is consistent with the business cycle fact that inflation is

Choose an answer

Procyclical and leading

Procyclical and lagging

Countercyclical and leading

All of these

The opportunity cost of a student is.

Choose an answer

Course fees and rent

A loan from the bank

What the student could have earned in the best job available by not studying.

What the student will earn after graduation.

The measured of GDP includes

Choose an answer

Non market goods such as home making and child rearing

The benefits of clean air and water

Estimated values of activity in the underground economy

Purchases and sales of goods produced in previous periods

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