PPSC Economics Complete Online Mcq test with answers for Economics

Economics Test- PPSC

The government of Punjab, to make the recruiting process for several government agencies clean and standardize, has established the Punjab Public Service Commission, PPSC. The organization under the instructions of the government of Punjab conducts the exams based on which the candidates' caliber is evaluated for the vacant positions in several government agencies. For almost all the major subjects or vacant positions, separate tests are conducted. PPSC leads the recruiting process through a proper channel. For example, candidates first appear for the test that is conducted in a satisfactory environment. Then the candidates are shortlisted for the interview which is the main evaluation process to offer the government employment opportunity to the deserving candidates.

Economics Paper Pattern For PPSC

Economics subject is considered as the most prominent and important subject in the business field. The subject is of great importance for the candidates who want to pursue higher education in the business field. However, the subject is also important for the candidates who want to start their professional careers in the business and economics fields. Candidates who appear through PPSC are required to pass the paper that is comprised of 80% questions related to Economics subject and 20% questions related to general knowledge. PPSC test comprised of the topics including basic economics, microeconomics, macroeconomics, economics models, development economics, and some others.

PPSC Economics Full Book MCQ Test

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PPSC Economics Full Book MCQ Test

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Question # 1

The supply of foreign currency tends to be

Upward sloping A
Down ward sloping B
Vertical C
Any of the above D

Question # 2

In the Keynesian corss diagram, and cline in autonomous consumer expenditure causes the aggregate demand function to shift _____ the equilibrium level of aggregate output to fall, and the IS curve to shift to the.

up ; left A
up ; right B
down ; left C
down ; right D

Question # 3

In economics we ofthe say that a particular event will occur "as long as other things stay the same. " The conduction that other thing saty the same is also called.

Ceteris paribus A
Marginal decision making B
Incentives C
Secondary effects D

Question # 4

The three main components of the aggregate demand aggregate supply model include.

AD, SRAS, LM A
SRAS, LRAS, IS B
AD, IS, LM C
AD, SRAS, LRAS D

Question # 5

Ahmed uses dummy variables in order to determine the monthly seasonal effect in her regression model. The number of dummy variables used will be.

5 A
11 B
12 C
1 D

Question # 6

How much of the Rs. 5 billion dollar increase in the government expenditures will be financed by bond sales.

Rs.3.5 billion A
Rs.1.5 billion B
Rs. 4.9 billion C
Rs.2.8 billion D

Question # 7

Who among the following is a supporter of animal liberation

Paul taylor A
Arne Naess B
Peter Singer C
None of these D

Question # 8

While resources and products flow in one direction of the circular flow model what flow the other direction.

Services A
Public goods B
Money C
Imported goods D

Question # 9

An increase in the marginal propensity to import.

Has the some effect upon the multipliers as an increase in the MPC A
Has no effect upon the multipliers B
Increases the value of the multipliers C
Decreases the value of the multipllers D

Question # 10

The law of demand states that

As the quantity demanded rises, the price rises A
As the price rustiest he quantity demined rises B
As the price rises, the quantity demanded falls C
As supply rise, the demand rises D

Question # 11

Why does it make sense in assume that people are rational, if you want to predict their behavior.

People are not guided by emotions when making decisions A
People wheo act in the way that best gets them what they want will tend to repeat that behavior, and will tend to learn from mistakes that they do make B
People never make mistakes, and tend to make the correct choices all of the time C
People always logically figure out what to do. D

Question # 12

A decrease in the quantity of money supplied shifts the money supply curve to the________ and the equilibrium interest rate

right ; fall A
right ; rises B
left ; falls C
left ; rises D

Question # 13

In cartels.

Firms complete against each other A
Price wars are common B
Firms use price to win market share from competitors C
Firms collude D

Question # 14

As a result of the increase in government expenditures disposable income increases by.

Rs.10 billion A
Rs.9 billion B
Rs.20 billion C
Rs.5 billion D

Question # 15

According to the life cycle hypothesis consumption is related to.

Current income A
Past peak income B
Expected lifetime income C
Price expectations over one's life time D

Question # 16

Economic transition involves high inflation because __ and _

High monetary growth, high wages. A
High budget deficits, devaluation B
High monetary growth, devaluation C
Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue. D

Question # 17

It is a process of checking to detect and correct errors and omissions.

Coding A
Editing B
Analysis C
Classifications D

Question # 18

A situation in which expansionary in monetary policy has no effect on the economy is known as.

Macro economic stabilization A
A liquidity trap B
A depression C
Capital flight D

Question # 19

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a

Domestic subsidy A
Export subsidy B
Import quota C
Export quota D

Question # 20

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

A production extremality A
A second best solution B
Transaction costs C
A consumption externality D

Question # 21

In price discrimination, which section of the market is charged the higher price.

The section with the richest people A
The section with the oldest people B
The section with the most inelastic demand C
The section with the most elastic demand D

Question # 22

When there is a surplus in a market

There is downward pressure on price A
There is upward pressure on price B
The market could still be in equilibrium C
There are too many buyers chasing too few goods. D

Question # 23

When planned saving is greater than planned investment.

Output should increase A
Output should decrease B
Output should not change C
All of the above D

Question # 24

Who is the proponent of the theory of deontology.

Arne Naes A
Warwick fox B
Kant C
Aido Loopoid D

Question # 25

To reduce the supply of money the government could.

Reduce interest rates A
Buy back government bonds B
Sell government bonds C
Encourage banks to lend D

Question # 26

Which of the following correct about firms in an oligopoly.

Each firm has complete control over its own selling price A
All firms independently charge monopoly prices B
No one firm controls price but each has an influence on the price C
There is no competition in oligopoly industries D

Question # 27

Which of the following best defines price discrimination.

Charging different prices on the basis of race A
Charging different prices for goods with different costs of production B
Charging different prices based on cost of service differences. C
Selling a certain product of given quality and cost per unit at different prices to different buyers D

Question # 28

One of the following is not a necessary characteristics of UDCs

Low saving ratio A
Low capital formation B
Disguised unemployment C
Insufficient human resources. D

Question # 29

Economists use the term utility to mean

The value of a product before it has been advertised A
The satisfaction a consumer obtains from a good or service B
any characteristic of a good or service which cannot be measured C
The contribution a good or service makes to social welfare D

Question # 30

The marginal rate of substitution for two goods can be obtained from

The slope of the demand curve A
The slope of the indifference curve B
The ration of first derivative of the total utility functions C
B and D both D

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Here is List Of Chapter Wise Tests

Ch. #	Test Name	MCQs Available	PDF File	Launch Test
1	PPSC Economics Chapter 1 Basic Economics	302	Download PDF	Launch Test
2	PPSC Economics Chapter 2 Micro Economics	284	Download PDF	Launch Test
3	PPSC Economics Chapter 3 Macro Economics	339	Download PDF	Launch Test
4	PPSC Economics Chapter 4 Monetary & Fiscal Policy	264	Download PDF	Launch Test
5	PPSC Economics Chapter 5 International Economics	153	Download PDF	Launch Test
6	PPSC Economics Chapter 6 Economics Model	30	Download PDF	Launch Test
7	PPSC Economics Chapter 7 Islamic Economics	28	Download PDF	Launch Test
8	PPSC Economics Chapter 8 Development Economics	55	Download PDF	Launch Test
9	PPSC Economics Chapter 9 Pakistan Economics	144	Download PDF	Launch Test
10	PPSC Economics Chapter 10 Most Frequently Asked Economics MCQS	190	Download PDF	Launch Test
11	PPSC Economics Chapter 11 Assess Your Basics	201	Download PDF	Launch Test
12	PPSC Economics Chapter 12 Statistics In Economics	76	Download PDF	Launch Test
13	PPSC Economics Chapter 13 Mathematics in Economics	94	Download PDF	Launch Test
14	PPSC Economics Chapter 14 History Of Economics Thought	26	Download PDF	Launch Test
15	PPSC Economics Chapter 15 Philosophy of Economics	38	Download PDF	Launch Test
16	PPSC Economics Chapter 16 Research Methods for Economist	90	Download PDF	Launch Test

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PPSC Economics MCQ Test With Answer for Full Book

Economics Test- PPSC

Economics Paper Pattern For PPSC

PPSC Economics Full Book MCQ Test

PPSC Economics Full Book MCQ Test

The supply of foreign currency tends to be

In the Keynesian corss diagram, and cline in autonomous consumer expenditure causes the aggregate demand function to shift _____ the equilibrium level of aggregate output to fall, and the IS curve to shift to the.

In economics we ofthe say that a particular event will occur "as long as other things stay the same. " The conduction that other thing saty the same is also called.

The three main components of the aggregate demand aggregate supply model include.

Ahmed uses dummy variables in order to determine the monthly seasonal effect in her regression model. The number of dummy variables used will be.

How much of the Rs. 5 billion dollar increase in the government expenditures will be financed by bond sales.

Who among the following is a supporter of animal liberation

While resources and products flow in one direction of the circular flow model what flow the other direction.

An increase in the marginal propensity to import.

The law of demand states that

Why does it make sense in assume that people are rational, if you want to predict their behavior.

A decrease in the quantity of money supplied shifts the money supply curve to the________ and the equilibrium interest rate

In cartels.

As a result of the increase in government expenditures disposable income increases by.

According to the life cycle hypothesis consumption is related to.

Economic transition involves high inflation because ______ and _____

It is a process of checking to detect and correct errors and omissions.

A situation in which expansionary in monetary policy has no effect on the economy is known as.

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

In price discrimination, which section of the market is charged the higher price.

When there is a surplus in a market

When planned saving is greater than planned investment.

Who is the proponent of the theory of deontology.

To reduce the supply of money the government could.

Which of the following correct about firms in an oligopoly.

Which of the following best defines price discrimination.

One of the following is not a necessary characteristics of UDCs

Economists use the term utility to mean

The marginal rate of substitution for two goods can be obtained from

MCQ's Tests For PPSC Economics Preparation

Here is List Of Chapter Wise Tests

Top Scorers of PPSC Economics Full Book MCQ Test

Test Questions

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Economic transition involves high inflation because __ and _