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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
A market demand curve can be derived by adding all the individual demand curves
Choose an answer
Vertically
Horizontally
In parallel
Any of the above as long as it is consistent
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Question # 2
Aggregate demand in an economy trading internationally with a government sector can be written s.
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AD = C+1
AD = C + 1+ G
AD = C +1+G+X+Z
AD+C+1+G+X-Z
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Question # 3
When an economy first begins to frow more slowly.
Choose an answer
GDP increase
Inflation is likely to increase
Stock levels are likely to increse
Investment in equipment is likely to increase
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Question # 4
The Isoquant curve shows different combinations of two factors of production which give the producer.
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Different level of output
High level of output
low level of output
Same level of output
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Question # 5
International trade in good sand services is sometimes used as a substitute for all of the following except.
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Internationals movement of capital
International movement of labor
International movements of technology
Domestic production of different goods and services.
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Question # 6
A question which requires a solution is.
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Observation
Problem
Data
Experiment
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Question # 7
The notation of Relationship is important
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Dominations ecology
Deep ecology
Sympathy ecology
None of these
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Question # 8
As the opportunity cost of a good falls, ceteris paribus the substitution effect implies that people buy
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Less of the good and more of its substitutes
More of that good and less of its substitutes
Less of that good and less of its substitutes
More of that good and more of its substitutes
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Question # 9
A variable which is free to take any value we choose to assign to it is called.
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Dependent variable
Independent variable
Endogenous variable
Explained variable
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Question # 10
The equilibrium inflation rate is determine by the intersection of __________ and ___
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demand, supply
IS , LM
AD, AS
Labour demand, labour supply
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Question # 11
An optimal tariff is one which reduces imports to the level at which ___ equals
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imports , exports
The balance of trade, zero
The demand for currency, the supply of currency
Social marginal cost social marginal benefit
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Question # 12
In capitalistic economy price is determined by
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Supply and production
Demand and production
Demand and consumption
Demand and supply
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Question # 13
An increases in the demand curve for orange juice would be illustrated as a.
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Leftward shift of the demand curve
Right ward shift of the demand curve
Movement up along the demand curve
Movement down along the demand curve
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Question # 14
The largest source of tax revenue for the federal government is.
Choose an answer
The personal income tax
The social security tax
The property tax
The sales tax
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Question # 15
With no government and foreign trade sectors savings always equals.
Choose an answer
Intended investment
Realized investment
Botha a and b
None of these
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Question # 16
The "Law of demand" most directly means that consumers buy
Choose an answer
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 # 17
In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.
Choose an answer
Selling, increase
buying , increase
selling, reduce
both b and c
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Question # 18
Local correspondent's method can be applied only where a high degree of precision is not.
Choose an answer
Case
Necessary
Interview
Nalied
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Question # 19
Which of the following is not a supply side measure.
Choose an answer
Increased training
Providing more information
Helping individuals to move location to find work
Increasing spending on existing industries.
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Question # 20
management of the economy via extensive regulation and laws specified by the national government is most consistent with
Choose an answer
syndication
Mercantilism
Classical liberalism
None of these
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Question # 21
Which provide a shorthand summary of data.
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Frequency table
Simple table
Cross table
Two way table
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Question # 22
Net National product equals.
Choose an answer
Gross national product minus indirect business taxes
Gross national product minus depreciation
National income minus indirect business taxes
National income pluses depreciation
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Question # 23
The short term interest rates on bonds over the next 5 years is 6% , 7%, 9% ,10% and 8% according to the expectations Hypothesis, the interest rates on bonds with 5 years to maturity will be.
Choose an answer
6%
8%
10%
9%
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Question # 24
When the demand curve is a straight line the elasticity of demand at the center point will be.
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Equal to zero
infinite
More than one
Equal to one
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Question # 25
Economic growth can be measured by
Choose an answer
The CPI
The CBI
GDP
MPC
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Question # 26
The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.
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2%
3%
7%
4%
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Question # 27
Skewness refers to.
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Symmetry
Asymmetry
Flatness
Varience
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Question # 28
Gender is categorized as
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Nominal data
Ordinal data
Interval data
Ratio data
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Question # 29
If the price of automobile were to decrease substantially the demand curve for automobiles would most likely.
Choose an answer
shift rightward
Shift left eard
Remain unchanged
Become steeper
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Question # 30
Intermediate goods are meant for
Choose an answer
Direct use by the consumers
Further processing
The term do not exist
None
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Question # 31
Research design as the conceptual structure with in which the research is.
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Judgment
Design
Survey
Conducted
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