PPSC Lecturer Past Papers & MCQs, SPSC Lecturer Past Papers & MCQs, FPSC Lecturer Past Papers & MCQs,
KPPSC Lecturer Past Papers & MCQs, BPSC Lecturer Past Papers & MCQs, AJKPSC Lecturer Past Papers &
MCQs.
Practice Test Lecturer Economics MCQs Past Papers
1. Income elasticity of demand for an inferior good should be
(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 to which figure
(a)2
(b)3
(c)4
(d)None of these
4. During the Liquidity Trap, the LM curve must be
(a)Less elastic
(b)Positive
(c)Perfectly elastic
(d)None of these
5. The highest factor of production is:
(a)Energy
(b)Labour
(c)Technology
(d)None of these
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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 the perfect competition, the firm would earn a normal profit when:
(a)AC>AR
(b)AR
(b) Both
(c) None of these
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 the supply of money:
(a)M2
(b)M3
(c)M1
(d)None of these
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11. A positive externality in which a consumer wishes to possess good in part because others do:
(a)Supply
(b)Concavity
(c)Money demand
(d)None of these
12. The profit function is
(a)Homogeneous of degree = 1
(b)Homogeneous of degree = 2
(c)Homogeneous of degree = 0
(d)None of these
13. The derivative of the cost function with respect 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 the
(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 unanticipated 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 the 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 shifts the 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) both a & b
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 201112 was:
(a)$ 1258
(b)$1372
(c)$1025
(d)$ 1050
23. The GINI coefficient is a measure of:
(a)Inequality
(b)Poverty
(c)Growth
(d)Development
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 the 1970s the planning was concerned to:
(a)Industrial planning
(b)Export promotion
(c)Import substitution
(d)Structural planning
(e)None of these
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27. The best measure of economic development among the following is:
(a)NNP
(b)HDI
(c)GDP
(d)All of these
(e)None of these
28. The main objective of Monetary or fiscal policy is:
(a)Economic stabilization
(b)Efficiency
(c)Both (a) and (b)
(d)None of these
29. Direct taxes during 201112 were around of total tax revenue.
(a)37%
(b)63%
(c)15%
(d)None of these
30. Public debt as a percent of GDP for 201112 was:
(a)58%
(b)65%
(c)50%
(d)45%
(e)None of these