Question # 1

Who is regarded as the founder of theory of sets.

Choose an answer

Adam Smith

Karl Frederich Gauss

George cantor

Euller

A firm's long run average total cost lineis

Choose an answer

Identical to its long run marginal cost line

Also its long run supply curve

In fact the average total cost curve of the optimal plant

Tangent to all the curve of short run average total cost

If an economy experience an increase in productivity it means that.

Choose an answer

the level of output has risen

Employees are working harder than before

Output per unit of input has risen

Technical change has taken place

The comparative advantage model of Ricardo was based on.

Choose an answer

Interindustry specialization and trade

Demand conditions underlying specialization and trade

Income conditions underlying specialization and trade

Policy of nationalization was adopted in the period of.

Choose an answer

Z.A. Bhutto

Nawaz Sharif

Zia ul Haq

All of them

The function of money do not include.

Choose an answer

an exchange of purchasing power

A unit of account

A medium of exchange

A store of value

Demand for primary products is likely to be

Choose an answer

Very sensitive to price

Price elastic

Unit elastic

Income inelastic

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Choose an answer

Worse off, worse off

better off, better off

better off, worse off

equal , unequal

If a firm which polluted the water of area had to pay all social cost would have

Choose an answer

Small output

Large output

Heavy output

B and C

Tax and rulers duty and terms of trade are discussed in.

Choose an answer

Kitab ul Anwal

ammali

Kitab Ul Asar

Kitab ul Khiraj

The reduction or covering of foreign exchange risk is called.

Choose an answer

Hedging

Speculation

Intervention

Arbitrage

Economics growth can be seen by an outward shift of.

Choose an answer

The production possibility frontier

The gross domestic barrier

The marginal consumption frontier

The Minimum Efficient scale

Economics is the science of Wealth who gave this definition.

Choose an answer

J-x Mehta

Marshall

Adam Smith

Robbins

The price mechanism cannot.

Choose an answer

Act as a signal

Act as an incentive

Act as a rationing device

Shift the demand curve

An essential Criterion of Scientific study is.

Choose an answer

Belief

Value

Objectivity

subjectivity

The purpose of support price is to.

Choose an answer

Discourage former

Encourage consumer

Discourage consumer

Encourage farmer

Small nations with more than one major trading partner lend to peg the value of their currencies to.

Choose an answer

gold

silver

a single currency

a basket of currencies

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Choose an answer

rise, increases, increases

rise, falls, increases

rise, increases, falls

rise, falls, falls

When the Central Bank initiates actions which will lead to an increase in the supply of money IS -LM models tell us to expect that.

Choose an answer

The interest rate will rise

The interest rate will decline

The price level will not change

Investment will decline

An important policy instrument to influence commercial banks is.

Choose an answer

Open market operations

Changing reserve ratios of commercial banks

Moral persuasion

None of the above

The monopolization of the competitive market results in a deadweight loss to society of

Choose an answer

RSJK

JKL

THJ

RSJL

using money as a medium of exchange.

Choose an answer

Requires people to math goods wanted with goods available.

Reduces the range of feasible exchanges in the economy

Inhibits economic transactions

Reduces the need for barter in the economy.

Historically countries at early stages of rapid economics development have tended to experience.

Choose an answer

Trade deficits and an excess of investment over domestic saving.

Trade surpluses and an excess of investment over domestic saving

Trade deficits and an increase of domestic saving over investment.

Trade surpluses and an excess of domestic saving over investment.

If input price adjusted very slowly to output prices, the Phillip's curve would be.

Choose an answer

Downward sloping

Vertical or nearly vertical

Upward sloping

Horizontal or nearly horizontal

To determine the total demand for all consumers sum the quantity each consumer demands.

Choose an answer

At a given price

At all prices and then sum this amount across all consumers

Both a and b will generate the same total demand

None of the above

That the division of labor is limited by the size of th market best applies to which explanation of trade.

Choose an answer

Factor endowment theory

Product like cycle theory

Economics of scale theory

Over lapping demand theory

Which of the following is an example of primary data.

Choose an answer

Book

Journal

News paper

group interview

A bank has excess liquidity reserves to lend but is unable to find a willing borrower these will_______ the size of the money multiplier.

Choose an answer

Reduce

Increase

Have no effect on

Double

In Islamic economic system business is allowed in the field of.

Choose an answer

Halal goods only

beneficial goods

Consumer goods

All of these

Most industrial construes generally considered _______ as the most important economic goal

Choose an answer

External balance

Internal balance

Maximum efficiency for business

Maximum efficiency for labor

Given the demand function qo = -8p +2000 and tis inverse p = -1/8 qo + 250 ,p in the inverse function which is interpreted as the maximum price that buyers are willing to pay for the.

Choose an answer

Supply price

Demand price

Equilibrium price

Reserved price

More Classes

Other Links

PPSC Economics Full Book MCQ Test 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

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