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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
Which of the following could be a reason for the problem of lack of jobs being overestimated.
Choose an answer
the existence of disguised unemployment
People are underemployment
People holding only one job
The existence of child labour
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Question # 2
Money must fulfill all of the following functions except.
Choose an answer
Be a medium of exchange
Be a store of value
Be generally accepted as a means of purchasing commodities
The above are all functions of money
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Question # 3
According to Okun's law an increase in the unemployment rate will cause_______ in the level of empolyment and __ in the level of output.
Choose an answer
An increase ; an increase
An increase; a decrease
A decrease ; an increase
a decrease ; a decrease
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Question # 4
Scarcity means that
Choose an answer
We cannot have everything that we might want
We have to make choices between the things we desire.
There are costs to just about any activity we undertake
We must give up some thing in order to obtain other things.
All of the above are correct
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Question # 5
Which of the following best defines price discrimination.
Choose an answer
Charging different prices on the basis of race
Charging different prices for goods with different costs of production
Charging different prices based on cost of service differences.
Selling a certain product of given quality and cost per unit at different prices to different buyers
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Question # 6
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
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Question # 7
Which among the following is the sensible theory of sampling.
Choose an answer
Induction
Inertia
Regularity
None of the above
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Question # 8
Which of the following is NOT characteristics of underdeveloped nations.
Choose an answer
Low per capita income
Low growth rate of GNP
General needs for substantive investment in the infrastructure
Low population growth rates
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Question # 9
The ethics, importance is given tobio sphere and the large eco system.
Choose an answer
Life centered animal
Ecological holism
Environmental
animal
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Question # 10
A linear function of the form 6x2 - 2y + 8 = 0 is known as.
Choose an answer
Explicit function
implicit function
Quadratic function
All of the above
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Question # 11
The first five year plan 1955-60 was prepared by the board and was released in.
Choose an answer
1956
1957
1958
None of the above
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Question # 12
A fall in interest rates is likely to
Choose an answer
Increase aggregate demand
Increase savings
Decrease consumption
Decrease exports
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Question # 13
The method most commonly used to test the overall significance of a regression is.
Choose an answer
The t test
The F -test
Chi square test
R
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Question # 14
To basic objective of sampling study is.
Choose an answer
To draw inference
To check units of population
To collect numerical data
To make census
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Question # 15
Since 1960, the rate of economic growth in the country has been
Choose an answer
On the decline continuously
Increasing continuously
Increasing occasionally
Static in real terms
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Question # 16
Information that is represented usually as words, not numbers.
Choose an answer
Qualitative data
Quantitative data
Primary data
Scientific data
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Question # 17
Find the change in revenue to the industry due to the taxs.
Choose an answer
Rs. 40 billion
Rs. 34 million
Rs.25 million
Rs.36 Million.
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Question # 18
The Ad, SRAS ,and LRAS curve each show a relationship between which two economic variables.
Choose an answer
The aggregate price level and output
The aggregate price level and the interest rate
Output and unemployment
Output and the interest rate.
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Question # 19
Estimation is the process of.
Choose an answer
Formulating some hypothesis about the population
Inferring statistic from parameter
Testing some hypothesis about eh population
Inferring parameter from statistic
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Question # 20
In Vann diagram the universal set is represented by
Choose an answer
Points within a rectangle
Points within a circle
Both a and b
None of these
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Question # 21
In a free market
Choose an answer
Government intervene
Government plan production
Government interfere
Price adjust to reconcile scarcity and desires.
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Question # 22
Which of the following is not a primary cause of business cycle fluctuations according to real business cycle theory.
Choose an answer
A change in the production function
A change in the size of the labor force
A change in the money supply
A change in the real quantity of government purchases
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Question # 23
If the columns of a given matrix A and B are changed into rows and vice versa, the matrix thus obtained is called the.
Choose an answer
Symmetric matrix
Transpose of a matrix
Singular matrix
Rank of matrix
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Question # 24
Globalization is likely to increase with
Choose an answer
More protectionism
An increase in tariffs
More trade within countries
Greater trade flows between countries
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Question # 25
When unintended investment is positive
Choose an answer
Output tends to rise
Output tends to fall
Output is in equilibrium
None of these
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Question # 26
Policy of nationalization was adopted in the period of.
Choose an answer
Z.A. Bhutto
Nawaz Sharif
Zia ul Haq
All of them
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Question # 27
Which exchange rate mechanism calls for frequent redefining of the par value by small amounts to remove payments disequilibrium.
Choose an answer
Dual exchange rates
Adjustable pegged exchange rates
Managed floating exchange rates
Crawling pegged exchange rates.
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Question # 28
The risk free rate of interest would not be affected by.
Choose an answer
Changes in real output
Change in the money supply
Term to maturity
None of the above
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Question # 29
Macro economics deals with
Choose an answer
Only the decisions made by individuals and their results.
Only the decisions made by businesses and their results.
Mostly large scale decisions made by countries and governments, and their results.
Only the decisions made by individuals but not the results.
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Question # 30
Compared to the case of perfect competition, a monopolist is more likely to
Choose an answer
Charge a higher price
Produce a lower quantity of the product
Make a greater amount of economic profit
All of the above
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Question # 31
the_____________ analysis considers the ability of domestic and foreign prices to adjust to devaluation in the short run.
Choose an answer
Pass through
Absorption
Adjustment mechanism
currency contract period
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