PPSC Economics MCQ Test With Answer for Full Book

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

Try The PPSC Economics Full Book MCQ Test

  • Total Questions30

  • Time Allowed30

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PPSC Economics Full Book MCQ Test

00:00
Question # 1

Marginal cost is the change is cost the result from a one unit increase in.

Question # 2

An equation in which all variables are raised to the first power is known as.

Question # 3

The low point in the business cycle is referred to as the

Question # 4

A mathematical statement setting two algebraic expressions equal to each other is called.

Question # 5

Using the Keynesian model the effect of an increase in the effective tax rate on capital would be to cause _________ in the real interest rate and ______ in output in the short run.

Question # 6

When the demand curve is a straight line the elasticity of demand at the center point will be.

Question # 7

Keynes considered subjective and objective factors.

Question # 8

If a perfectly competitive industry is in long run equilibrium all firms will

Question # 9

A tariff that prohibits imports has only

Question # 10

A change in the full employment quantity of labor_________ the short run aggregate supply curve and ______ the long run aggregate supply curve.

Question # 11

Most commonly referred indicator of inflation is

Question # 12

In the short run if price falls the firm will respond by

Question # 13

Comparative advantage is determined by

Question # 14

Firm A's margin of safety is.

Question # 15

In the Keynesian cross diagram an increasing investment spending because companies become more optimistic about investment profitability causes the aggregate demand function to shift ______ and the equilibrium level of aggregate output to rise and the IS curve to shift to the

Question # 16

in UDCs a potential resource of saving is

Question # 17

Quota sampling is the combination of.

Question # 18

A firm that breaks even after all economic costs are paid is earning.

Question # 19

If the prices of both goods increase by the same percent the budget line will

Question # 20

In the ISLM frame work an expansionary fiscal policy causes aggregate output to _________ and the interest rate to.

Question # 21

The competitive firm maximizes its profit by operating where

Question # 22

"Rising productivity does not in itself spell the end of inflation. With enough______ it would still be possible to whip prices into a froth the blank is best filled with.

Question # 23

The Lorenz curve shows that

Question # 24

Actual equilibrium is Rs. 1,500 billion and full employment is Rs. 2,500 MPC = 0.75 taxes are zero , and prices are adjustable To eliminate the observed deflationary gap , the government should.

Question # 25

GDP difference between GNP because.

Question # 26

Depreciation is.

Question # 27

Similar to import tariffs, import quotas tend to result in.

Question # 28

If a consumer's budget constraint is given as P, X,+ Py Y = B thent he absolute slope of the budget line is.

Question # 29

In monopolistic competition

Question # 30

If banks and the private sector decide to hold less cash the money multiplier will be.

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Here is List Of Chapter Wise Tests

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

Top Scorers of PPSC Economics Full Book MCQ Test

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    Usman Shahinshah 06 - Jun - 2024 16 Min 23 Sec 22/30
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    Shoaib khan 11 - Oct - 2022 16 Min 49 Sec 20/30
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    Noor Ulain 07 - Feb - 2023 07 Min 21 Sec 19/30
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    Sohaib Ali 14 - Nov - 2024 12 Min 47 Sec 16/30
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    Uzair Ahmad 16 - Jun - 2023 13 Min 31 Sec 16/30
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    Hammad Akram 18 - Apr - 2023 28 Min 09 Sec 16/30
  • A
    Arsalan Haider 11 - Jan - 2024 13 Min 52 Sec 15/30
  • A
    Amna Mawaz 19 - Jul - 2024 05 Min 56 Sec 14/30
  • H
    Hira Bukhari 08 - May - 2023 06 Min 20 Sec 14/30

PPSC Economics Important MCQ's

Sr.# Question Answer
1 For a positively skewed distribution.
A. mean > mode ? median
B. mean > median > mode
C. mode > mean > median
D. mean < mode < median
2 The term of trade is given by the process.
A. Paid for all goods exported by the home country
B. Received for all goods exported by the home country
C. Received for exports and paid for imports.
D. Of primary product as opposed to manufactured products.
3 Which of these are nicknamed as Breton wood twins.
A. IBRD AND IDA
B. IBRD AND WTO
C. WTO AND IMF
D. IMF AND IBRD
4 The set of 'stars in the sky' is an example of
A. Countable set
B. Infinite set
C. Finite set
D. unit set
5 A production function for a firm which produces a product with two or more inputs.
A. Represents a physical relationship between outputs for a specified set of inputs
B. Indicates the least cost combinations of inputs for a given output
C. Relates revenues and costs
D. Indicates the dollar cost for each level of ouput.
6 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
7 In the Keynesian corss diagra, an increase in autonomous consumer expenditure causes the aggregate demand function to shift up the equilibrium level of aggregate output to _______ and the IS curve to shift to the _______
A. rise ; left
B. rise ; right
C. fall ; left
D. fall ; right
8 A square matrix A, such that A = A ' is called a
A. Symmetric matrix
B. Skew symmetric matrix
C. Singular matrix
D. Rank of a matrix
9 At any given level of the interest rate expectations are likely to be___________ optimistic and planned investment is likely to be ______ when _________ is growing rapidly than when it is growing slowly or falling.
A. Less ; higher ; output.
B. more ; higher ; output
C. less ; lower ; unplanned investment
D. more ; lower ; unplanned investment
10 Consider the five panels of the figure on the previous page in which panel would the simultaneous imposition of restrictive monetary policy and expansionary fiscal policy cause the largest increase in interest rates.
A. Panel a
B. Panel b
C. Panel c
D. Panel d

MCQ's Tests For PPSC Economics Preparation

Candidates are informed that the PPSC economics test is competitive and only those candidates get exceptional results who appear with exceptional preparation. Candidates who are already involved in the preparation activities and those who are looking for a suitable platform for preparation both are invited to get better practice through PPSC online test preparation. Here we offer the PPSC online MCQs tests that are just according to the actual paper pattern designed by PPSC. Candidates can find chapter-wise tests as well as full book tests. Chapter-wise test consists of 20 MCQs, whereas, full book test is comprised of 30 MCQs. Moreover, the tests are comprised of the most important questions according to the PPSC examination point of view.

Test Questions