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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
If the Bank of Pakistan wished to pursue an expansionary monetary policy it would.
Choose an answer
Increase the minimum reserve asset ratio
Sell government securities on the open market
Buy government securities on the open market
Raise interest rates.
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Question # 2
The type of business in which an individual has unlimited responsibility for the debts of the organization.
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Partnership
Corporation
Monopoly
None of these
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Question # 3
Which of the following is a reason for misuse of statistics.
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data can be manipulated
Figures are convincing
Figures can be used to mislead readers
All of the above
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Question # 4
The hypothesis would the tested with
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A two tailed test
A one tailed test with the rejection region in the left tail
a one tailed test with the rejection region on the right tail
The normal distiribution
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Question # 5
When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firm in the market we have
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A cartel
The perfect competitive outcome
The Nash equilibrium
Monopolistic competiton
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Question # 6
If GNP of Pakistan nees it wil encourage
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Exports goods
imports goods
Both a and b
None
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Question # 7
An increase in money _______ shifts the LM curve to the _____ causing the interest rate to fall and output to rise
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demand ; right
demand ; left
supply ; right
supply ; left
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Question # 8
Union of A and a null set is equal is.
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Intersection of A and null set
Null set
Both a and b
A
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Question # 9
Price equal to.
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Total revenue -quantity
Total revenue/quantity sold
total quantity sold * quantity sold
Total revenue/total cost
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Question # 10
Firms entering a perfectly competitive market will cause the price of the product to
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Decrease
Increase
Remain constant
Respond more to consumer demand than supply
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Question # 11
Which of the following is not one of the four Ps in marketing.
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Product
Price
Place
Presence
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Question # 12
The "Law of demand" most directly means that consumers buy
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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 # 13
Pakistan's public debt a
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LarGer than GNP
Approximately equal to GNP
Small than GNP
Smaller than our exports
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Question # 14
The firms average variable cost of the 150th unit is.
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Rs.15
Rs.17
Rs.20
Rs.9
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Question # 15
If the MPC is 0.5 the multiplier is
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2
1/2
0.2
20
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Question # 16
Relation with other aspect of research creates.
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Values related problem
Ethical problem
Personal prejudice and bias
Moral dilemmas
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Question # 17
As disposable income increases from Rs. 1500 to 2000 , saving increases from minus Rs. 50 to Rs.250 if the relationship between disposable income and saving is linear, the MPC obviously has a value of.
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.6
.8
.4
.2
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Question # 18
Agricultural income tax in Pakistan will be leived on the famers with land holding of or more than.
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30 acres
25 acres
15 acres
12.5 acres
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Question # 19
Debit entries on the balance of payments are the entries that would.
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Mean a loss of foreign exchange
Bring foreign exchange into the country
Indicate a surplus exists
Exist at the bottom line a after all accounts are totaled.
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Question # 20
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 # 21
The classical are of the view that utility can be.
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Ranked
Counted
Expressed in numbers
Not counted
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Question # 22
Government policies that focus on increasing production rather than demand are called.
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Fiscal policies
Monetary policies
Incomes policies
Supply side policies
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Question # 23
A checking deposit held at a commercial bank is considered ______ of that bank.
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An asset
Net worth
a liability
Capital
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Question # 24
Empirical research may given a new focus to the exiting theory means.
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Research clarifies theory
Researh intitiate theory
Reach refocuses theory
Psychoanalytic theory
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Question # 25
Factors that cause the IS curve to shift include.
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Changes in autonomous consumer spending
Changes in government spending
Changes in investment spending related to business confidence
All of the above
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Question # 26
In monopolistic competition
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Demand is perfectly elastic
Products are homogeneous
Marginal revenue = pirce
The marginal revenue is below the demand curve and diverges
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Question # 27
Advocates of industrial policy maintain that government should.
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Purse free trade as a policy that leads to maximum global efficiency
Grant subsides to firms offering potential comparative advantage.
Provide loans to domestic workers in exporting industries.
Increase interest rates on loans made to firms in import competing industries.
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Question # 28
Similar to import tariffs import quotas tend to result in.
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Higher prices ad reduced imports
Increased government revenue
Increases consumer surplus
Decreased producer surplus
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Question # 29
The mathematical theory of probability has helped to form the.
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Statistical theory
Law of inertia of large numbers
Law of statistical Relativity
Law of statistical Regularity
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Question # 30
The% change in quantity demanded due to % change in incomes.
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Price elasticity
Prices cross elasticity
Income elasticity
All of these
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Question # 31
In the short run firm in perfect competition will still produce provided.
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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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