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PPSC Economics Full Book MCQ Test MCQs With Answers
Question # 1
Fiscal policy output to change demand for output is.
Choose an answer
Completely effective in region KL
Partially effective in region JK
Elasticity is infinite for region LT
Completely ineffective in region LT
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Question # 2
The matrix A multiplies by its inverse will b e a.
Choose an answer
Identity matrix
Skew symmetric matrix
Idempotent matrix
Adjoin of a matrix
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Question # 3
If government regulations prohibit the production of a particular good the demand curve for that good will most likely.
Choose an answer
Shift leftward
Shift rightward
Remain unchanged
Disappear
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Question # 4
The exchange rate is kept the same across geographically separate markets by
Choose an answer
Hedging
Speculation
Government regulation
Arbitrage
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Question # 5
Skills that can be transferred to other employers are called
Choose an answer
General skills
Specific skills
Non pecuniary skills
None of these
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Question # 6
When an increase in government spending is matched by an equal decrease in government transfers the income level will.
Choose an answer
Stay the same
Increase
Decrease
None of these
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Question # 7
The accelerator assumes.
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The marginal propensity to consume is constant
The economy is at full employment
There is a constant relationship between net investment and the rate of change of output
The multiplier is constant
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Question # 8
Who stated statistics as 'aggregate of knowledge brought together for practical ends.
Choose an answer
W.I. King
A.L Bowley
Prof. H secrist
None of the above
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Question # 9
The precautionary demand for money is
Choose an answer
An idle balance
An active balance
Directly related to interest rates
Inversely related to income
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Question # 10
____________ represents the difference between what consumers have to pay for a product and what they are willing and able to pay.
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Producer surplus
Deadweight surplus
Government surplus
Consumer surplus
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Question # 11
The central bank and the government are working against each other if as the government cuts taxes the central bank
Choose an answer
Sells government bonds
Lowers the discount rate
Increase the money supply
Decrease the legal reserve requirements
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Question # 12
An increase in money demand other thing equal shifts the ____ curve to the___
Choose an answer
IS ; right
IS ; Left
LM ; Left
LM ; right
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Question # 13
The variable that stands alone on the left hand side of the equation such as y = 2x + 1 is known as.
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Dependent variable
Independent variable
Endogenous variable
Explained variable
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Question # 14
The main cause of different relative costs between countries are.
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Relative factors competition
Relative factor mobility
Relative factor substitution
Relative factor endowments
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Question # 15
A square matrix a such that A2 = a is called.
Choose an answer
Orthogonal matrix
Skew symmetric matrix
Idempotent matrix
Singular matrix
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Question # 16
___________ are quotas that lead to a complete abolishment of trade.
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Nontariff barriers
Embargoes
Voluntary export restraints
Orderly marketing agreements
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Question # 17
A rise in the real exchange rate will __ the competitiveness of the domestic economy.
Choose an answer
Increase
reduce
do nothing do
all of these
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Question # 18
What is the refers to any collection of specified group of human beings
Choose an answer
Sampling
Random sampling
Non probability sampling
Population
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Question # 19
Usury is prohibited in
Choose an answer
Islam only
Sikhism only
Jewism
Both a and b
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Question # 20
The renowned economist and Islamic scholar who applied principles of politics economics was.
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Imam Abu Haneefa
ibn e Khaldun
Imam Abu Yousaf
Abu Qasim
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Question # 21
All currencies other than the domestic currency of a given country are referred to as.
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Reserve currencies
Neal monies
Foreign exchange
Hard currency
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Question # 22
Market failure may arise because of.
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Imperfect competition
Taxation
Externalities
All of the above
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Question # 23
Finding a partner to work with abroad is called a.
Choose an answer
Takeover
Merger
Acquisition
Joint venture
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Question # 24
The key feature of oligopoly is.
Choose an answer
Excess capacity
High profitability
Product differentiation
Interdependence of firms
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Question # 25
If every element of a set B is also an elements of A then
Choose an answer
A is a subset of B
B is a subset of A
A is not a subset of B
B is not a subset of A
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Question # 26
The respect for nature is a book written by.
Choose an answer
Spinoza
Paul Taylor
Arne Naess
None of these
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Question # 27
The downward kinked demand curve facing the individual oligopolistic implies that
Choose an answer
He face price certainlty
Competitors have a tendency to follow price decreases but not price increase
Total revenue remains same if a firm increases price
None of these
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Question # 28
Which of the following changes shifts the AD curve down and to the left.
Choose an answer
A temporary increase in government purchases.
A rise in the nominal money supply
A decrease in corporate taxes
A decrease in consumer confidence
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Question # 29
If every element of a raw of column of a square matrix A is zero, then the value of the determinant. is.
Choose an answer
Equal
One
zero
Not equal
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Question # 30
A polynomial equation with degree two a called.
Choose an answer
Linear equation
Quadratic equation
Parabola equation
All of the above
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Question # 31
Given the IS equation Y = Ke a - Ke Bn the IS slope decreases when
Choose an answer
Ke increase and b increases
Ke decreases and b increases
Ke increases and b decreases
Ke decreas4es and b decreases
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