PPSC Lecturer Economics Test 7 Online Preparation MCQs

Leave a Comment / By Hassan / September 10, 2020

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.
At the End of the Test you can see your Test score and Rating.
If you found any incorrect answer in Quiz. Simply click on the quiz title and comment below on that MCQ. So that I can update the incorrect answer on time.

Please Click Below START Button to Take this Lecturer Economics Test Online.

Test Instructions:-
Test Name	Lecturer Economics
Subject	Economics Test 7
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

PPSC Lecturer of Economics Practice Test 7

1 / 25

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

50%

100%

2 / 25

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

$400

$900

$1,300

$800

$500

3 / 25

hich of the following statements is/are true?

Productivity is the United States grew very slowly between 1973 and 1996

Business Investment Spending occurs when individuals buy stock in the stock markets when individuals buy stock in the stock market

Because of discouraged workers, the official unemployment rate is too high

“Full employment” occurs when there is no frictional unemployment

4 / 25

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

quantity sold and total expenditure

None of the above

Quantity sold, price

Quantity sold and quantity demanded

5 / 25

If elasticity is equal to infinity, Demand curve is:

negatively sloped

None of the above

Vertical

Horizontal

6 / 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:

$900

$100

$1300

$400

$500

7 / 25

Market demand is defined as:

Sum of individuals demand in the market

Demand from elite class consumers

Individual demand

Demand from poor class consumer

8 / 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:

30%

20%

40%

10%

9 / 25

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

Land and Labor

None of the above

Land and Capital

Labor and Capital

10 / 25

The tax is question #2 is:

progressive

regressive

proportional

11 / 25

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

the social security tax

the sales tax

the personal income tax

the property tax

12 / 25

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

None of the above

Increasing, less than 0

Increasing, equal to 0

Increasing, greater than 0

13 / 25

There are two theories of consumer behavior i.e.

Both A & B

Ordinal approach

Budget constraint Theory

Cardinal approach

14 / 25

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

Total cost

Marginal cost

Average revenue

Total revenue

15 / 25

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

Decreasing, equal to 0

Decreasing, greater than 0

None of the above

Decreasing, less than 0

16 / 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

not in the labor force

employed

unemployed

17 / 25

Which of the following taxes is regressive?

the sales tax

the federal income tax

the state income tax

the Medicare tax

18 / 25

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

Revenue and cost of firm

Input (factors of production) and profit of the firm

Input (factors of production) and Output (produced goods)

All of the above

19 / 25

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

Maximum, equal to 0

None of the above

Maximum, Less than 0

Maximum, Greater than 0

20 / 25

If elasticity is equal to 0, Demand curve is:

None of the above

Vertical

Horizontal

negatively sloped

21 / 25

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

Cross elasticity

Income elasticity

None of the above

Price Elasticity

22 / 25

If elasticity is equal to 1, Demand curve is:

Vertical

Horizontal

negatively sloped

None of the above

23 / 25

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

Marginal Revenue

Total Revenue

None of the above

Total Cost

24 / 25

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

recovery

recession

peak

another trough

25 / 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:

cyclically unemployed

structurally unemployed

seasonally unemployed

frictionally unemployed

Your score is

The average score is 0%

PPSC Lecturer Economics Test 7 Online Preparation MCQs

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