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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
A rise in the real exchange rate will __ the competitiveness of the domestic economy.
Choose an answer
Increase
reduce
do nothing do
all of these
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Question # 2
"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 # 3
Indifference curve approach is also called.
Choose an answer
Law of diminishing marginal utility
Law of substitution
Ordinal measure approach
None of these
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Question # 4
Which of the following would most likely shift the production possibilities curve for a nation outward.
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A reduction in unemployment
An increases in the production of capital goods
A reduction in discrimination
An increase in the production of consumer goods
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Question # 5
The monetary base in composed of.
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Gold and silver
Currency only
Currency and reserves
Currency and checkable deposits
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Question # 6
'Equal chance of being included in the sample", about what does Dr. Yates and Harper defined like this.
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Stratified sampling
Probability sampling
Proportional sampling
None of these
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Question # 7
Perfect competition implies
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Homogeneous goods
Inferior goods
Superiors goods
Differential goods
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Question # 8
An oligopolistic industry can be characterized by all of the following except
Choose an answer
May sellers
mutual interdependence
Economies of scale
A homogenous product
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Question # 9
If two sets contains the same number of distinct elements but not the same elements are called.
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Pie diagram
Venn diagrams
Histogram
Ogives
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Question # 10
Under land reforms celling of land was set as 150 acres of Un irrigated land by
Choose an answer
Zial ul Haq
Z.A.Bhutto
Nawaz Sharif
None of these
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Question # 11
Money's primary role in the economy comes from the benefits of lowering transactions costs and allowing specialization This function of money is called.
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Store of value
Medium of exchange
Standard of deferred payment
Unit of account
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Question # 12
It is a verbal method of searing data in the field surveys.
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Interview
Questinaire method
Participant observation
Projective technique
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Question # 13
What adjusts to restore general equilibrium after a shock to the economy.
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The LM curve
The IS curve
The FE line
The labor supply curve
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Question # 14
According to Okun's law an increase in the unemployment rate will cause_______ in the level of empolyment and __ in the level of output.
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An increase ; an increase
An increase; a decrease
A decrease ; an increase
a decrease ; a decrease
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Question # 15
The% change in quantity demanded due to % change in incomes.
Choose an answer
Price elasticity
Prices cross elasticity
Income elasticity
All of these
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Question # 16
Suppose a new law imposes a tax on all trades of bonds and stock What is the likely effect on money demand.
Choose an answer
Money demand declines first then rises when inflation increases
Money demand rises
The overall effect is ambiguous
Money demand declines
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Question # 17
In the long run an increase in consumer spending would cause output to ________ and the price level to.___________
Choose an answer
rise;rise
rise; stay; constant
stay constant ; stay constant
Stay constant ; rise
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Question # 18
Sum of squares of the deviations about mean is.
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Maximum
Minimum
zero
one
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Question # 19
Super Natural power, divinity, and gifts of nature are integral to the explanations of economic events developed by.
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Physiocrais
German historicists
Modern monetarists
Mercantilists
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Question # 20
A single value that represent the average characteristics of tis frequency distribution.
Choose an answer
quarterlies
Grouped data
Central tendency
Range
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Question # 21
Which method is used for finding inverse of a matrix.
Choose an answer
Gauss elimination method
Henrich standard method
Co factor method
Both a and c
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Question # 22
The socially optimal rate of growth is
Choose an answer
Zero
Negative
Where the marginal social benefit the marginal social cost
total social costs are minimized
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Question # 23
Which method develop theories.
Choose an answer
Observation
Case study
Research
Survey
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Question # 24
First Islamic banking branch of NBP started its operations in Karachi onDecember 15
Choose an answer
2004
2005
2006
2007
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Question # 25
The demand for a product would be more inelastic.
Choose an answer
The greater is the time under consideration
The greater is the number of substitutes available to buyers
The less expensive is the product in relation to incomes
all of the above.
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Question # 26
Sales taxes are generally considered to be.
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Proportional taxes
Regressive taxes
Progressive taxes
Indirect taxes
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Question # 27
Japan's low interest rates in the mid 80's were due to.
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High rates of domestic savings.
A decrease in Japan's exports
Increases in the U.S. deficit
High rates of domestic spending in Japan
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Question # 28
The "Law of demand" most directly means that consumers buy
Choose an answer
More of a good the higher their incomes, ceteris paribus.
Less of good the higher its price ceteris paribus
Buy more of a good the less is its supply ceteris paribus
Buy less of a good the greater is its supply ceteris paribus
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Question # 29
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
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Question # 30
A change that increase real money demand relative to the real money supply causes.
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The LM curve to shift down and to the right
The LM curve to shift up and to the left
The IS curve to shift down and to the left
The IS curve to shift up and to the right
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Question # 31
Which of the following is a normative statement in economics.
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More spending by the government reduces poverty
Higher taxes lead to less desire to work
the UK Economy is growing fast relative to other European Union members
The Government should concentrate on reducing unemployment
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