Question # 1

If the price of automobile were to decrease substantially the demand curve for automobiles would most likely.

Choose an answer

shift rightward

Shift left eard

Remain unchanged

Become steeper

The associative law of union is

Choose an answer

AU (BUC= (AUB)

U C

AUB = BUA

BUC = BUA

A public good

Choose an answer

Is provided by the government

Is free

Has the properties of being non excludable and non diminishable

Has external costs

Friend man's theory of consumption focuses on

Choose an answer

Past income

Current income

Disposable income

Permanent income

Research is directed towards the solution of immediate , specific and practical problem is called.

Choose an answer

Basic

Applied

Diagnostic

Descriptive

Which of the following is the government most likely to subsidies.

Choose an answer

Negative externalities

Positive externalities

Monopolies

O ligopojies

The factor endearment model of international trade was developed by.

Choose an answer

Adam Smith

David Ricardo

John Stuart Mill

Eli Heckscher and Beril Ohlin

What is the process of summarizing raw data and displaying them on compact statistical tables for further analysis.

Choose an answer

Statistical analysis

Data processing

Tabulation

Table construction

The tax is question 52 is

Choose an answer

Progressive's

Regressive

Proportional

None of these

That the division of labor is limited by the size of the market best applies to which explanation of trade.

Choose an answer

Factor endowment theory

Product life cycle theory

Economies of scale theory

Overlapping demand theory

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

If GNP = 1,000 billion and the money supply is 330 billion , then the velocity of money is.

Choose an answer

A value less than 1.4

3.33

1.48

3.03

GDP difference between GNP because.

Choose an answer

GDP = GNP - net factor payments from abroad

GNP = GDP -net factor payments from abroad

GDP = GNP -capital consumption allowances

GNP = GDP -capital consumption allowances.

An increase in aggregate demand will have most effect on prices if.

Choose an answer

Aggregate supply is price inelastic

Aggregate supply is price elastic

Aggregate supply has a unitary price elasticity

Aggregate demand is price inelastic

Which of the following organization primely provides long term loans to developing countries to help them develop the infrastructure such as schools hospitals and roads.

Choose an answer

World Bank

International Monetary fund

Council on Foreign Relations

Organization of petroleum Exporting countries.

The imposition of a tariff causes consumption to _______ and imports to.

Choose an answer

rise , rise

fall , rise

fall , fall

rise , fall

Given the demand and supply cautions qo = -8p + 2000 and qs = 12 p - 200 respectively the equilibrium price.

Choose an answer

p = 100

p = 110

p = 120

p = 140

Economists tend to disagree primarily about.

Choose an answer

The implications of scarcity for our economy

Which resources are free

Topics in positive economics

Issues of normative economics

The term focused group was coined by

Choose an answer

Powel

Merton

Eruest Dichter

Mitchell

"Transactions" money is money used as a

Choose an answer

Store of value

Unit of account

Medium of exchange

Standard of deferred payment

The ancient Greek philosopher who tried to analyze isolated exchange because markets with standardized products were relatively rare during his are was.

Choose an answer

Plato

Aristotie

Euclid

Protagoras

Money or paper currency serves at least _______ functions.

Choose an answer

Three

Four

Five

Seven

When an increase in government spending is matched by an equal decrease in government transfers, the income level will.

Choose an answer

Stay the same

Increase

Decrease

All of the above

Macro economics is the study of.

Choose an answer

Individual building blocks in the economy

The relationship between different sectors of the economy

Household purchased decisions

The economy as a whole

National Income account of Pakistan have registered GDP & GNP as.

Choose an answer

GDP = GNP

GDP < GNP

GDP > GNP

GDP / GNP

When investment spending is negatively related to the rate of interest, equilibrium income in the goods market.

Choose an answer

Is unrelated to the rate of interest

Is positively related to the rate or interest

Inversely related to the rate of interest

Falls as the rate of interest decreases

When the quantity demanded is changed on the same price

Choose an answer

the demand curve shifts upward

The demand curve shifts downward

Movement on the same demand curve

None of these

Hirschman along with other ebonists consider that for economic development.

Choose an answer

Balance growth is necessary

Unbalance growth is necessary

Big push in investment is necessary

Industrial development is necessary

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.

In the labor market if the government imposes a minimum wage that is below the equilibrium wage then.

Choose an answer

Workers who wish to work at the minimum wage will have a difficult time finding jobs.

Firms will hire fewer workers than without the minimum wage law.

Some workers may lose their jobs as a result

Nothing will happen to the wage rate or employment

Direct investment and security purchase are classified as.

Choose an answer

Capital account transactions

Current account transactions

Unilateral transfer transactions

Merchandise trade transactions

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