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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
During periods of negative demand shocks deficit target reductions such as those mandated in the Gramm Rudman Hollings Act would tend to.
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Stimulate the economy and increase empolyment.
Result in additional recessionary declines in employment and income
Stimulator defiance spending
Have an automatic stabilizing impact upon the economy
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Question # 2
Following the work of _____________ in the 1960s, and the controversy associated with these views in the 1970s, there was a revival of interest by economists and government in monetary policy.
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Milton Friedman
Ronald Reagan
Margaret Thatcher
John Maynard Keynes
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Question # 3
Which refers to a scale with a set of points which describes varying degrees of the dimensions of an attribute observed.
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Rating scale
Score card
Check list
Observation
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Question # 4
The first five year plan 1955-60 was prepared by the board and was released in.
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1956
1957
1958
None of the above
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Question # 5
During the financial year 1999-2000 the tax yielding the largest revenue for the Federal Government was.
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Income tax
Value added tax
Excise duty
Customs duty
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Question # 6
Which of the following causes M1 demand is decrease.
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A fall in the tax rate
An increase in income
A fall in the interest rate
An increase in the use of credit cards
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Question # 7
Which of the following procedures is included in the process that produces a value for disposable personal income
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subtracting excies and sales taxes
Subtracting nonbusiness interest
Subtracting transfer payment from government.
subtracting income taxes
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Question # 8
Expansion in money supply stems from.
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Increasing the cost of bank credit
Reducing availability of bank credit
Reducing the financial cost of bank credit
None of above
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Question # 9
Perfect competition implies
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Homogeneous goods
Inferior goods
Superiors goods
Differential goods
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Question # 10
The very word statistics refers to.
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State craft
Science of state
Political state
Political craft
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Question # 11
Disposable income is obtained by subtracting ________ taxes from personal income
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Indirect taxes
Direct taxes
Subsidies
None
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Question # 12
When the stock market a rising it is called.
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Bearish
Bullish
Perfect competition
Rising up
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Question # 13
In the short run an increase in the quantity of money ______ real GDP and _ the price level.
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increases ; raises
does not change ; lowers
decreases ; raises
decrease ; lowers
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Question # 14
Which of the following is not a primary cause of business cycle fluctuations according to real business cycle theory.
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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 # 15
If government spending of Rs. 10 and a lump sum tax of Rs.10 is added, the empirical equation for the new IS curve becomes.
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Y = 285 + 20 I
Y = 270 - 10 i
Y = 285 - 50 i
Y = 210 - o.5 i
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Question # 16
Rachel Carson wrote the book
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Silent spring
Transpersonal ecology
Deep ecology
None of these
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Question # 17
In the Harrod - Domar equation g = s/v , v is defined as.
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the value of the country a capital stock
The ratio of the country's capital stock to its output.
The change in the country's capital stock
None of the above
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Question # 18
Monetary policy is concerned with influencing.
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The general level of money wages
The level of government expenditure
The price and availability of money
The level of shares on the stock market
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Question # 19
Public utilities tend to be
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Inefficient
Natural monopolies
subject to increasing costs
None of these
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Question # 20
A nation with a current account deficit will be
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Lending more money to other nations
Experiencing a surplus in exports of goods and services
Reducing its indebtedness to other nations
Going further into debt with other nations
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Question # 21
The most frequently occurring score in a distribution
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Mean
mode
Median
Quartile
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Question # 22
The sufficient condition required for the matrix to posses inverse is that the matrix should be.
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square matrix
Singular matrix
Non singular matrix
Orthogonal matrix
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Question # 23
The least common type of transaction in the foreign exchanges is a.
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Forward transaction
Spot transaction
Swap transaction
None of the above
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Question # 24
The term of trade in Pakistan remained unfavorable regarding.
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Industrial sector
Services sector
Agricultural sector
All of these
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Question # 25
Under a fixed exchange rate system an expansionary fiscal policy leads to a
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Trade account deficit and a capital account surplus.
Trade account deficit and a capital account deficit
Trade account surplus and a capital account surplus
Trade account surplus and a capital accoundt deficit
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Question # 26
In cartels.
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Firms complete against each other
Price wars are common
Firms use price to win market share from competitors
Firms collude
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Question # 27
the purpose of research is to discover answer to questions through application of.
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Scientific method
scientific research
Scientia procedure
Social science research
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Question # 28
An increase in costs will
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Shift aggregate demand
Shift aggregate supply
Reduce the natural rate of unemployment
Increases the productivity of employees
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Question # 29
The index used most often to measure inflation is the
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Consumer price index
Wholesale price index
Student price index
Producer price index
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Question # 30
Which of the following explains why demand curves slope downward.
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Prices and income
substitutes and complements
Resources and technology
Substitution effect and income effect
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Question # 31
Skewness refers to.
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Symmetry
Asymmetry
Flatness
Varience
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