PPSC Lecturer of Economics Past Paper
Mcqs Economics From Past Papers For Subject Specialist &
Lecturer Exams
PPSC Lecturer Economics MCQs Past Papers
1. Income elasticity
of demand for an inferior good is:
(a)Positive
(b)Zero (c)Both (a) &
(b) (d)None of these
2. Convexity means
averages are ________________ than extremes:
(a) Worse (b) Positive (c) Better (d)None of these
3. Sum of MPC and MPS
equals:
(a)2 (b)3 (c)4
(d)None of these
4. During the
Liquidity Trap, LM curve is:
(a)Less elastic
(b)Positive (c)Perfectly
elastic (d)None of these
5. The dominant
factor of production is:
(a)Energy
(b)Labour (c)Technology (d)None of these
6. GDP deflator is a
ratio between:
(a)Input prices
(b)Output prices (c)Both (a) & (b)
(d)None of these
7. During monopoly,
the equilibrium condition is:
(a)MC=P
(b)MC>MR (c)MC=MR (d)None of these
8. During perfect
competition, the firm would earn a normal profit when:
(a)AC>AR (b)AR
9. Roy’s identity is
applied on:
(a)Food (b)Bread (c)Utility
(d)None of these
10. The following is
the narrowest measure of supply of money:
(a)M2 (b)M3 (c)M1
(d)None of these
11. A positive
externality in which a consumer wishesto possess a good in part because others
do:
(a)Supply
(b)Concavity (c)Money demand (d)None of these
12. The profit
function is of:
(a)Homogeneous of degree = 1
(b)Homogeneous of degree = 2
(c)Homogeneous of degree = 0
(d)None of these
13. The derivative of
cost function withrespect to output price provides:
(a) Input supply
function (b)Output supply function
(c)Both (a) & (b)
(d)None of these
14. A strategy that
is optimal, no matter what an opponent does:
(a)Dominant firm
(b)Duopoly (c)Dominant
strategy (d)None of these
15. A devaluation of
a currency takes place under
(a)Flexible exchange rate
(b)Fixed exchange rate
(c)Clean floating system
(d)None of these
16. Nominal interest
rate is:
(a)Inflation minus Tax
(b)Tax plus Indirect Tax
(c)Real interest rate minus Inflation (d)None of these
17. An un-anticipated
increase in money supply is neutral during:
(a)Short run period
(b)Medium run period
(c)Both (a) & (b)
(d)None of these
18. A rise in general
price level shifts the LM curve:
(a)Down and to the right
(b)Up and to the left
(c)Positively sloped
(d)None of these
19. Decrease in tax
shiftsthe IS curve:
(a)Down and to the left
(b)Negatively sloped
(c)Up and to the right
(d)None of these
20. Gross National
Product is:
(a)GDP – NNP (b)NFA –
GNI (c)GDP – NX (d)None of these
21. Foreign aid
comprises of:
(a)Grants
(b)Loans (c)Both (a) and (b) (d)None of these
22. Per capita income
of Pakistan during the fiscal year 2011-12 was:
(a)$ 1258
(b)$1372 (c)$1025 (d)$ 1050
(e)None of these
23. The GINI
coefficient is measure of:
(a)Inequality
(b)Poverty (c)Growth (d)Development (e)None of these
24. During the last
decade income inequality in rural areas of Pakistan has:
(a)Increased
(b)Decreased (c)Remained
unchanged (d)None of these
25. The share of
agriculture in GDP is:
(a)21% (b)10% (c)12%
(d)17% (e)None of these
26. During 1970’s the
planning was concerned to:
(a)Industrial planning
(b)Export promotion (c)Import
substitution
(d)Structural planning
(e)None of these
27. National Savings
as a percent of GDP during 2011-2013 was:
(a)10.7 (b)13.1 (c)9.5
(d)8.8 (e)None of these
28. The growth rate
of manufacture sector during 2011-12 was:
(a)1.7% (b)4.1% (c)5.2%
(d)3.6% (e)None of these
29. The best measure
of economic development among following is:
(a)NNP (b)HDI (c)GDP
(d)All of these (e)None of these
30. The main
objective of Monetary or fiscal policy is:
(a)Economic stablization
(b)Efficiency (c)Both (a) and
(b) (d)None of these
31. Direct taxes
during 2011-12 were around of total tax
revenue.
(a)37% (b)63% (c)15%
(d)None of these
32. Public debt as a
percent of GDP for 2011-12 was:
(a)58% (b)65% (c)50%
(d)45% (e)None of these
33. Govt. of Pakistan
borrows from:
(a)Internal sources
(b)External sources (c)Pakistani
banks
(d)All of these
(e)None of these
34. Growth rate of
agriculture sector during 2011-12 was:
(a)3.1% (b)5.4% (c)2.9%
(d)2.1% (e)None of these
35. Nationalization
of industries took place during the regime of:
(a)ZA Bhutto (b)Zia
ul Haq (c)Ayub Khan (d)None of these
36. Development
economics is concerned with:
(a)Efficient allocation of scarce resources (b)Economic, social and political
institutions.
(c)Imperfect resource and commodity markets. (d)(a) and (b) only (e)None of these
37. The last land
reforms in Pakistan were introduced in:
(a)1972 (b)1977 (c)1981
(d)1958 (e)None of these
38. IMF advances loan
for:
(a)Construction
(b)Balance of payment
(c)Travelling (d)None of these
39. Sixth five year
plancovers the period:
(a)1965-70
(b)1960-65 (c)1988-93 (d)1983-88
(e)None of these
40. The unemployment
rate in Pakistan during 2010-11 was:
(a)7% (b)5% (c)3%
(d)6% (e)None of these
41) Demand curve in case of Giffen good is:
(a) Negatively sloped (b) Vertical
(c) Positively sloped (d) None of these
42) Price consumption curve in case of complementary goods
is:
(a) Downward sloping (b) Vertical
(c) Upward sloping (d) None of these
43) In case of two goods, following utility approach, a
consumer is in equilibrium when:
(a) MUx/Px = MUy/Py (b) MUx/Px < MUy/Py
(c) MUx/Mx > MUy/Py (d) Both (b) and (c)
44) In short run:
(a) Labour is variable (b) Both labour and capital are
variable
(c) Both labour and capital fixed (d) None of these
45) When MC is equal to AC, the AC:
(a) Increases (b) Decreases
(c) Remains constant (d) None of these
46) Normal profit, excess profit and loss of the firm
depends on level of:
(a) Average costs in short run (b) Total costs in short run
(c) Marginal costs in short run (d) All of these
47) In case of perfect competition, the sellers are:
(a) Two (b) A few
(c) Very large (d) None of these
48) The firm is in equilibrium when:
(a) Slope of TC = Slope of TR (b) Slope of TC is less than
slope of TR
(c) Slope of TC is more than slope of TR (d) None of these
49) The Marginal Revenue Product of labour MRPLis:
(a) MR x MP (b) MR / MP
(c) MR – MP (d) Both
(b) and (c)
50. In case of imperfect competition the MRPLis the:
(a) Supply of labour curve (b) Demand for labour curve
(c) Both of these (d) None of these
Mcqs Economics From Past Papers For Subject Specialist &
Lecturer Exams
(1) The greatest requirement for economic development is:
(a) To sacrifice present enjoyment for tomorrow’s benefit.
(b) Increase in National income.
(c) Invention and innovation in all productive sectors
(d) Mechanization of agriculture
(2) Per Capita output would probably rise but output per
worker would fall if;
(a) Capital deepening occurred rapidly.
(b) Labour force participation rate of the population rose
(c) Technical education of the work
(d) Involuntary saving was increased
(3) Most of underdeveloped countries are agricultural with
low income and needs:
(a) Increase in income of the people depends upon
agriculture output.
(b) Land can be owned collectively.
(c) Land can be owned by large capitalist farmers.
(d) Land can be owned by labourers who fill it.
(4) Voluntary saving will most likely increase if:
(a) Tax rates are increased
(b) Interest rate rise
(c) Distribution of income becomes more unequal
(d) The rate of inflation increase
(5) Economic growth:
(a) Is synonymous with economic development
(b) Refers to qualitative change experienced by an economic
system
(c) When an economic system acquires greater productive
capacity.
(d) Always result in increased real per capita output
(6) Capital deepening:
(a) Is an increase in the ration of labour to capital
(b) Necessarily increases real per capita output
(c) Is less likely to be effective in fostering growth in
rich countries than in poor countries
(d) Can occur when saving rates are zero
(7) Interest of the developed world in the development of
under developed economies on:
(a) General political freedom and promotion of free
societies
(b) If world is not free their freedom would be in danger
(c) They want to stop and check tyranny and aggression
(d) Developed countries need customers for their surplus
production.
(8) GNP at factor cost may be best defined as:
(a) The total of goods and services produced within an
economy over a given time period.
(b) The total of expenditure of consumers on domestically
produced goods and services.
(c) All incomes received by residents in a country in return
for factor services provided domestically and abroad.
(d) The value of total output produced domestically plus net
property income from abroad minus capital consumption
(9) Which one of the following is a transfer payment in
National income accounting?
(a) Educational scholarship
(b) Salaries of employees
(c) Payments for text books
(d) Payment for examination fee
(10) Which is the basic concept which underlies accelerator
theory of investment?
(a) Investment depends on the level of savings
(b) Investment is inversely related to the rate of interest
(c) Investment is determined by the volume of Commercial
Bank Lending
(d) Investment rises when there is an increase in the rate
of growth of demand in the economy
(11) Which one of the following would cause a fall in the
level of aggregate demand in the economy?
(a) A decrease in the level of imports
(b) A fall in the propensity to save
(c) A decrease in government expenditure
(d) A decrease in the level of income tax
(12) Capital formation remained very low in Pakistan due to:
(a) Low saving rate
(b) Savings are not fully invested
(c) Money and capital market are not suitable
(d) Due to high rate of inflation purchasing power is very
low
(13) Efficient allocation of resources in an economy occurs
whenever:
(a) Prices is equated to Marginal social cost in some units
(b) Income and wealth are distributed in a fair way
(c) There is full employment of resources
(d) The existing resource allocation cannot be changed
without making it worse off.
(14) When a worker earns more than the just sufficient to
keep him in his job, the excess income is called:
(a) An opportunity cost
(b) An economic rent
(c) Transfer earnings
(d) Surplus value
(15) There are 5 workers in a field and each one is paid at
the rate of Rs. 200 per day. Later on raising wage rate by Rs. 50 per day to
attract one more worker. If other costs remain constant, marginal input cost of
employing the additional worker is:
(a) Rs. 400
(b) Rs. 45
(c) Rs. 700
(d) Rs. 300
(16) If state wishes to stimulate consumption, which one of
the following measures be the most effective?
(a) Increase in aid to agriculture and industry
(b) An increase in old age pension
(c) A decrease in higher rates of income tax
(d) A decrease in personal tax allowances
(17) The incidence of tax refers to:
(a) Who economically bear the burden of the tax
(b) The canons of taxation
(c) Type of tax, direct or indirect tax
(d) Whether the tax is continuously or periodically levied.
(18) During the inflationary period, when income tax revenue
rises faster than National income, this illustrates:
(a) The situation of unemployment trap.
(b) The poverty trap
(c) Fiscal boost
(d) Fiscal drag
(19) A balance of payment surplus may cause:
(a) Employment and the money supply to rise.
(b) The money supplies to fall
(c) Employment to rise and the money supply to fall
(d) Employment and the money supply to fall.
(20) Green revolution refers to:
(a) Introduction of modern technology
(b) Reform in land tenure system
(c) Introduction of agro-based industry
Share:
0 153 comments اپنی راے کمنٹس میں دیں:
Post a Comment
اگر کوئی مسئلہ ھو تو کمنٹ کریں