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PPSC FPSC Lecturer Economics Online Test 41 Solved MCQs

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There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
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Test Instructions:-
Test Name	Lecturer Economics
Subject	Economics Test 41
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. 41

1 / 25

When interest rates go up, the stock market:

experiences a drop in share prices

also rises only if demand for bonds rises

is unaffected

also rises

2 / 25

The redistribution of income that inflation entails depends fundamentally on:

government programs to increase productivity to lower inflation

current rate of unemployment

correct anticipation of inflation

current stage of business cycle

3 / 25

Inflation leads to inefficiency in the economy:

if people avid signing long-term contracts

if resources are used to predict it

All of the above

4 / 25

If a given market basket of goods and services that cost $40 in the base period now costs $120 then the current value of the price index is:

300

120

33.3

5 / 25

Karl Marx:

developed his theory in response to Great Depression

led the Russian revolution

none of them

provided the theoretical basis for socialism

6 / 25

Which would not be included in the market basket of goods used to calculate the consumer price index?

steel

gasoline

bread

housing

7 / 25

Macroeconomics is study of:

individual firms

industries as a whole rather than individual firms

economy as whole

large firms and consumers

8 / 25

Using the information from previous question the unemployment rate is:

9.10%

10%

11.10%

9 / 25

Which is not a Bureau of Labor Statistic category used to calculate the unemployment rate?

unemployed

employed

not in the labor force

part-time unemployed

10 / 25

The interest rate tends to:

grow steadily over time

both a and b

lower in recessions

rise during recessions

11 / 25

The potential affects of inflation include all of the following except:

investment in inflation

income redistribution from borrowers to lenders

possible changes in real output

scarce resources devoted to anticipating

12 / 25

If the total adult population is 220 million and 99 million workers are employed and 11 million unemployed then the total labor force is:

110 million

11 million

220 million

99 million

13 / 25

Which is least important in study of macroeconomics?

total output

interest rate

relative prices of goods

general price level

14 / 25

Which of the following decades was characterized by stagflation?

1930s

1960s

1970s

1940s

15 / 25

When inflation is positive:

prices fall

average price rise

prices rise

more prices rise than fall

16 / 25

In macroeconomics economists study:

determination of supply

how price controls resource allocation

why demand and quantity demand differ

federal budget deficits

17 / 25

The four phases of the business cycle include the:

acceleration phase

plateau

expansion period

leverage period

18 / 25

By definition, issues having to do with economic growth:

ignore productivity growth

involve how much gold a nation has

are long run in nature

cannot be affected by government

19 / 25

The average duration of business cycles from peak to peak is about .............. years:

20 / 25

If a given market basket of goods and services that now costs $120 only cost $110 last year then the rate of inflation this year is:

8.30%

10%

9.10%

25%

21 / 25

During a recession the government:

spends less overall

collects more taxes

adjust spending

spends more on unemployment insurance

22 / 25

The degree to which inflation redistributed income depends fundamentally upon:

the level of interest rates

ability to anticipate inflation

how high the unemployment rate is

size of govt. Sector

23 / 25

Rapid and unpredictable inflation causes business firms to waste resources guessing inflation and:

the federal budget to shrink

wasteful speculation

no redistribution of income

interest rates to fall

24 / 25

In the course of a business cycle, a recession is followed by:

depression

expansion

recovery

trough

25 / 25

In the early 1990s the republics of the former Soviet Union will have to survive:

lower unemployment

hyperinflation

surplus products consumers cannot buy because of lack of money

lower prices

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