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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
If in market the seller is changing different prices for the same commodity from different consumers it is known as.
Choose an answer
Price discrimination
efficient selling
Profit maxi miser in Monopoly
all of these
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Question # 2
A contraction in supply occurs when
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Demand shifts out wards
The supply curve shifts inwards
The quantity supplied falls when the price falls
The supply curve shifts outwards
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Question # 3
Those who favor setting the target rate of inflation at about 3% believe.
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The cost of moderate inflation can be minimized by indexing the tax system and bonds
that the cost of going to 0% is very low
That moderate inflation increases money illusion
Believe that moderate inflation aggravates the time inconsistency problem
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Question # 4
In Kaldor model saving income ratio in the growth process is considered.
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Constant
Positive
Variable
Negative
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Question # 5
The income elasticity of demand
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Is negative for normal goods
Is positive for normal goods
Equals the relative change in demand for a good divided by the relative change in the iincome of consumers all else being equal
Is correctly described by all of the above
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Question # 6
Which of the following will not result in an increase in the level of income.
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An increase in autonomous spending
A decrease in autonomous taxes
An increase in autonomous transfers
an increased in net tax revenues
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Question # 7
If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
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Lender of last resort
Financial intermediation
Open market operations
Financial regulation.
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Question # 8
A demand curve that is an equilateral hyperbola is.
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Perfectly elastic
Relatively elastic
Unit elastic
Relatively inelastic
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Question # 9
Public utilities tend to be
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Inefficient
Natural monopolies
subject to increasing costs
None of these
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Question # 10
A decrease in the legal reserve ratio from 25% to 20% will
Choose an answer
Result in light money
Be contractionary
Increases excess reserves and the potential money multiplier
Decrease excess reserves and the potential money multiplier
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Question # 11
Which of the following is not an element of the redistribution with growth policy approach.
Choose an answer
Minimum wage legislation
Land refrom
Progressive taxation
Increased access to education
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Question # 12
The movement of disguised unemployment is.
Choose an answer
integrating factor
Social factor
push and pull factor
All of these
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Question # 13
In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
Choose an answer
3>2>1
3 +2>1
3<2<1
Any measure can be larger or smaller than any other
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Question # 14
Who among the following was the leader of Monetarism
Choose an answer
Keynes
Milton friedman
A.W.Philip
Mankiv
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Question # 15
Case study may be a source of hypothesis of.
Choose an answer
Future research
Research design
Content analysis
Intensive study
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Question # 16
When the value of the Rupee rises Pakistan goods become _____ expensive relative to foreign goods which ___ exports.
Choose an answer
more ; iincreases
less ; increases
more ; decreases
more ; increases
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Question # 17
An asset with zero carrying costs and a present value of Rs.50,000 will return continuous annual yield of Rs.5000 if the current and future rate of inters is.
Choose an answer
5%
8%
10%
3%
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Question # 18
Capital goods are
Choose an answer
A type of intermediate good
Final goods, because they are not used up during a given year
Produced in the same year as the related final good whereas intermediate goods are produced in different years.
Produced in one year whereas final goods are produced over a period of more than one year
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Question # 19
The view which allows only use value ot nature is known as.
Choose an answer
Deep ecology
Shallow ecology
Life ecology
None of these
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Question # 20
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 # 21
Ibn-e Khaldun discussed in detail the principles of.
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Taxation
Terms of trade
Term of rent
Duties of ruler
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Question # 22
The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
Choose an answer
capital widening, technical innovation
Capital widening, catch up in technology
Capital deepening, technical innovation
Capital deepening, catch up technology.
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Question # 23
For a competitive firm the demand curve
Choose an answer
A horizontal
Coincides with the marginal revenue curve
Coincides with the average revenue curve
All of the above
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Question # 24
Historically countries at early stages of rapid economics development have tended to experience.
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Trade deficits and an excess of investment over domestic saving.
Trade surpluses and an excess of investment over domestic saving
Trade deficits and an increase of domestic saving over investment.
Trade surpluses and an excess of domestic saving over investment.
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Question # 25
A profit maximizing monopolist in two separate markets will
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Charge different price according to elasticity
Charged same price
Charged very high price
Charged very low price
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Question # 26
The world narrative derived from Latin verb
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Quantitative research
Qualitative research
Descriptive research
Experimental
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Question # 27
The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.
Choose an answer
Total Physical product begins to fall
The marginal physical product rises
The marginal physical product falls
The average physical product falls.
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Question # 28
Ahmed uses dummy variables in order to determine the monthly seasonal effect in her regression model. The number of dummy variables used will be.
Choose an answer
5
11
12
1
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Question # 29
Women and non whiles on average receive lower comes than white men because.
Choose an answer
They tend to work in relatively unskilled jobs
Educational disadvantage
Firms are reluctant to invest in training
All of the above
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Question # 30
Modern Technique can be applied on
Choose an answer
Economic land holding
Uneconomic land holding
any land holding
None of these
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Question # 31
In the short run firm in perfect competition will still produce provided.
Choose an answer
The price covers average variable cost
The price covers variable cost
The price covers average fixed cost
The price covers fixed cost
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