# PPSC Lecturer Economics Test 7 Online Preparation MCQs

Given below on this Website Online Free Taleem is free online MCQ’s test related to PPSC of Lecturer Economics. All the individuals who are going to appear in PPSC Lecturer of Economics written test can attempt these tests in order to prepare for it in best possible way. Our tests include all the important questions MCQs of Lecturer of PPSC Economics, all Past Papers of Lecturer of Economics PPSC  that have extremely high amount of chances for been included in the actual exam which make our test undoubtedly the best source of preparation.

Note:-

There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
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 Test Instructions:- Test Name Lecturer Economics Subject Economics Test 7 Test Type MCQs Total Questions 25 Total Time 20 Minutes Total Marks 100
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You have 20 minutes to pass to the quiz.

PPSC Lecturer of Economics Practice Test 7

1 / 25

Last week, Martha spent one day cleaning a house. For this, she was paid \$50. The rest of the week, she spent looking for a job. Martha would be classified as

2 / 25

Market demand is defined as:

3 / 25

If price elasticity of demand is less elastic (e < 1), Slope of total revenue will be …………and marginal revenue will be …………….

4 / 25

The largest source of tax revenue for the federal government is:

5 / 25

The tax is question #2 is:

6 / 25

Total expenditure of consumers of purchasing particular commodity is equal to the ……………..of the firms selling the particular commodity:

7 / 25

Isoquant shows all possible combination of two factors of production …………….and ……………. to produce a given level of output:

8 / 25

If elasticity is equal to 0, Demand curve is:

9 / 25

Total revenue of firm is obtained as the product of ……………..and its ………..

10 / 25

If price elasticity of demand is unitary elastic (e = 1), Slope of total revenue will be ……………. and marginal revenue will be ……………

11 / 25

John lost his accounting job when Montgomery Wards closed its stores in San Diego. He looked for a similar job for ten months before finding an accounting job at Sears. During the month John was unemployed, he was:

12 / 25

Marginal revenue is defined as the change in…………….resulting in selling additional unit of commodity:

13 / 25

If elasticity is equal to 1, Demand curve is:

14 / 25

When my income was \$100,000, I paid \$10,000 in taxes. When my income became \$200,000, I paid \$40,000 in taxes. My marginal tax rate is:

15 / 25

hich of the following statements is/are true?

16 / 25

The relationship between marginal revenue and price is explained by the …………………… of demand:

17 / 25

If elasticity is equal to infinity, Demand curve is:

18 / 25

Immediately after a trough, we would expect to have a/an:

19 / 25

If price elasticity of demand is more elastic (e > 1), Slope of total revenue will be …………… and marginal revenue will ………….

20 / 25

There are two theories of consumer behavior i.e.

21 / 25

Using the numbers in question 5, the Real GDP for 2002 is:

22 / 25

Assume that there are two goods, A and B. In 1996, Americans produced 10 units of A at a price of \$10 and 20 units of B at a price of \$20. In 2002, Americans produced 20 units of A at a price of \$20 and 30 units of B at a price of \$30. The Nominal GDP for 2002 is:

23 / 25

If there are 50 firms in a industry, each selling 2% of the total sales, the concentration ratio is:

24 / 25

Production function shows the technical relationship between …………. and …………..

25 / 25

Which of the following taxes is regressive?