negative positive > 1 spsc,ppsc lecturer economics mcqs past papers 1. Income elasticity of demand for an inferior good is: a positive b zero c both a amp b d none of these 2. Convexity means averages are _ than extremes: a worse b positive c better d none of these 3. 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 amp b d none of these 7. During monopoly, the equilibrium condition is: a mc p b mc gt mr c mc mr d none of these 8. During perfect competition, the firm would earn a normal profit when: a ac gt ar b ar 9. 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 amp 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 amp 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. 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. During 1970s 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. Public debt as a percent of gdp for 2011 12 was: a 58% b 65% c 50% d 45% e none of these 33. 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. 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. 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. Select the best option/answer and fill in the appropriate box on the answer sheet. 15 b which approach is better to establish consumer equilibrium and why? 05 q.3. 05 b establish equilibrium under any one markets, you have explained under a above. A establish and explain equilibrium of the economy in the short run and long run. Why short run aggregate supply curve is horizontal 15 b briefly explain major factors which alter the slope of aggregate supply curve.

A briefly explain major components of aggregate demand equation function and also explain the role of planned and real effective aggregate demand. Intending candidates are advised to visit the website for details as mentioned in the general instructions and apply onlineupto 21st december, 2015 for the post s they qualify. Case no.f.4 139/2015 r 12/2015 eight junior research officers bs 16 , permanent, national assembly secretariat, islamabad. Minimum qualification: second class or grade ‘c’ master’s degree in any social science discipline from hec recognized university. Domicile: merit one punjab four, sindh rural one, sindh urban one and khyber pakhtunkhwa one. Case no.f.4 160/2015 r 12/2015 senior official reporter urdu bs 18 , permanent, national assembly secretariat, islamabad minimum qualification/experience: i second class or grade ‘c’ bachelor degree from hec recognized university.

V five 5 years relevant post qualification experience rendered in public/private sector. Case no.f.4 162/2015 r 12 /2015 research officer urdu bs 17 , permanent, finance division. Minimum qualification: second class or grade ‘c’ master’s degree in urdu or equivalent qualification from a university recognized by the hec. Experience: two 2 years post qualification experience in translation from english to urdu and vice versa.

Download full advertisement for more jobs and details syllabus will be announced soon here 1 the greatest requirement for economic development is: a to sacrifice present enjoyment for tomorrow’s benefit. 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.

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. 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. 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. If other costs remain constant, marginal input cost of employing the additional worker is: a rs.

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 d fiscal drag 19 a balance of payment surplus may cause: a employment and the money supply to rise. comments guide pakstudy.com encourages its readers to share their views on our website. We try to accommodate all users' comments but this is not always possible due to space and other constraints. Please read our comments guidelines below for more information: 1. please be aware that the views of our bloggers and commenters do not necessarily reflect pakstudy.com's policies. 2. though comments appear to have been published immediately after posting, they are actually forwarded to a moderation queue before publication. 3. pakstudy.com reserves the right to remove or edit comments that are posted on this blog.