KPPSC Economics MCQs

PPSC FPSC Lecturer Economics Online Test 39 Solved MCQs

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There will be 25 multiple choice question in the test.
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Test Instructions:-
Test Name	Lecturer Economics
Subject	Economics Test 39
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 ONLINE PRACTICE TEST NO. 39

1 / 25

In Ricardo theory of value the stress has been made on additional or:

average cost

total cost

variable cost

marginal cost

2 / 25

Rate of economic development in Pakistan will increase if:

saving rate increases

money supply increases

all of them

import increases

3 / 25

Select the combination which is most likely to be found in developing countries:

low infant mortality rate and high GDP

low birth rate and high GDP

high birth rate and low GDP

low death rate and high GDP

4 / 25

When resources are allocated by government planning:

both a and c

capitalism is usually the result

decision making is decentralized

economy is more efficient

5 / 25

General equilibrium is concerned with simultaneous equilibrium of all the:

none of them

economic theory

economic agents

economic decision

6 / 25

Which is not part of institutional arguments that characterize an economic system?

poverty is owned by individual

at what level economic decisions are made

what incentives are used to motivate economic behavior

how governments officials are selected

7 / 25

A consumer wishes to utility his:

maximize

neutralize

none of them

minimize

8 / 25

Economic planning in Pakistan is conducted by:

planning council

planning board

planning authority

planning commission

9 / 25

Pakistan produces of its oil requirements:

40%

50%

30%

20%

10 / 25

Microeconomics is also known as:

normative economics

price theory

none of them

positive economics

11 / 25

In a socialist economy the invisible hand:

is prevented from operating effectively

guides most decisions

gives misleading signals

operates effectively in labor market

12 / 25

Market allocation fundamentally relies upon:

a belief that employees work for good of society

moral incentives

a system of relative prices

government interference

13 / 25

Under the Soviet system supply-demand balance was:

unsatisfactorily attempted by planners

maintained effectively

not a major consideration of planners

left to market price movements

14 / 25

When a country develops:

all of them

urbanization rises

per capita income rises

specialization increase

15 / 25

There is an early belief that Socialist economy would fail because they underutilized:

natural resources

labor resources

plants and factories

scarce information

16 / 25

If business managers are rewarded on the basis of how much output they create:

potential for quality to suffer

profit will be large

consumers will get what they want

productivity will increase

17 / 25

Economic planning does not need:

change of government

estimation of resources

determination of objection

fixation of plan period

18 / 25

In Pakistan poverty is measured by:

difference between GNP and GDP

difference of income in rural and urban areas

per capita income, calorie intake

percentage of rural population

19 / 25

Size of Pakistan's 8th plan was in rupees:

1700 billion

700 billion

2700 billion

3700 billion

20 / 25

Investment rate in Pakistan is around:

28%

38%

18%

21 / 25

Medium-term plan covers:

3 to 5 years

5 to 10 years

10 to 15 years

less than 2 years

22 / 25

Soviet managers:

had incentives to reduce product quality

pursued economically efficient choices

were left little to do under central planning

All of the above

23 / 25

As nearly as we cab estimate it, Soviet productivity growth:

was subject to sever cycles

accelerated in 1980s

was stagnant after 1965

had nothing to do with the decline of socialism

24 / 25

An apparently irreversible trend in China in the 1990s is:

reliance on moral incentives

to allow Japan to operate major industries

shift from public to private production

state-run banks to print own money

25 / 25

Economic planning in Pakistan started during:

1980's

1970's

1950's

1960's

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