Question # 1

"An Enquiry into the Nature and causes of wealth of Nations" is thebook of economist.

Choose an answer

Adam smith

Marshall

Robbins

None of above

"Human Welfare is the subject of Economics" Y. This statement is associated with the name of which of the economists.

Choose an answer

Marshall

Pigou

Pension

All of the above

A firm's total labor cost when six workers are employed is Rs.580 When seven workers are employed the total labor cost is Rs.700 the Rs. 120 change in total labor cost represents.

Choose an answer

Marginal physical product

Marginal resources cost

Marginal cost

Marginal revenue

If personal income equals Rs.570 white personal income takes equal Rs.90 consumption is Rs.430. interest payments total Rs. 10 and personal saving is Rs. 40, disposable income equals.

Choose an answer

Rs. 500

Rs.480

Rs. 470

Rs.400

As the economy nears full capacity the short run aggregate supply curve

Choose an answer

Stagflation

Structural inflation

Demand side inflation

Supply side inflation

The Ad, SRAS ,and LRAS curve each show a relationship between which two economic variables.

Choose an answer

The aggregate price level and output

The aggregate price level and the interest rate

Output and unemployment

Output and the interest rate.

In the long run a reduction in labor supply would cause output to _______ and the aggregate price level to.

Choose an answer

fall; rise

fall ; fall

rise ; fall

rise; rise

The data indicates that country A in billions of rupees is experiencing a

Choose an answer

A deficit of Rs.60

A surplus of Rs. 300

Deficit of Rs.900

A deficit of Rs. 500

Two independent variables are not independent of each other in a multiple regression problem The analyst most likely will be confronted with.

Choose an answer

The problem of autocorrelation

A type 1 error

The problem of multicollinear rarity.

a type II error

Which of the following is the most liquid.

Choose an answer

A savings account

A 6 months CD

A home

Water

For a borrower an increase in the real interest rate will lead to.

Choose an answer

Higher current consumption and less borrowing

Higher current consumption and less saving

Lower current consumption and less borrowing

Lower current consumption and less saving

Which policy is an expenditure switching policy.

Choose an answer

Increase in the money supply

Decrease in government expensitures

Increase in business and household taxes

Decrease in import tariffs

A nation experiences internal balance if it acieves.

Choose an answer

Full employment

Price stability

Full employment and price stability

Unemployment and price instability

The negative relation ship between unemployment and inflation is know as the

Choose an answer

Aggregate supply curve

Aggregate demand curve

Philipps curve

Efficiency wage line

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.

Whose opinions have revolutionized the scope of macro economics.

Choose an answer

Adam Smith

J.B. Say

J.M. Keynes

All of the above

An increase in the expected real interest rate tends to.

Choose an answer

Raise desired saving only

Raise desired investment only

Raise both desired savings and desired investment

Raise desired savings, but lower desired investment.

If the federal reserve whishes to increase the money supply, it should

Choose an answer

Raise the reserve requirement

Raise the discount rate

Buy Treasury securities in the open the market

All of the above

Total factor productivity growth is that part of economic growth due to.

Choose an answer

Capital growth plus labor growth

Capital growth less labor growth

Capital growth times labor growth

Neither capital growth nor labor growth

A decrease in the marginal propensity to import will lead to.

Choose an answer

An increase in GNP

Lower the multiplier

An increase in imports

A decrease in imports

in the keynesian model in the short run the amount of employment is determined by the effective labor demand curve and the level of.

Choose an answer

Prices

Output

The real interest rate

The supply of labor

More Classes

Other Links

PPSC Economics Chapter 3 Macro Economics 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