economics Mcqs
1. the national economy2. profit maximizing under perfect competition and monopoly3. application of economics4. the aggregate demand aggregate supply model5. surplus6. money interest rates and output7. average and total cost8. stabilization adjustment reform and privatization9. risks and diversification efficient market hypothesis10. the phillips curve11. supply and demand12. capital formation investment choice information technology and technical progress13. aggregate supply unemployment and inflation14. elasticity15. comparative gdp16. roots of modern macroeconomics17. production factors18. poverty malnutrition and income inequality19. trade regulations and industrial policies20. monetary union21. exchange rate systems and currency crises22. economic development in historical perspective23. exchange rate determination24. monopoly competition25. the balance of payments26. inflation productivity27. macroeconomic issues and analysis28. employment migration and urbanization29. macroeconomic policy tools30. supply side policies31. exchange rate adjustments and the balance of32. miscellaneous33. taxation34. trade policies for the developing nations35. markets efficiency and the public interest36. the external debt and financial crises37. budget deficits and the trade balance38. alternative theories of the firm39. public goods40. the meaning and measurement of economic development41. characteristics and institutions of developing countries42. agriculture irrigation system of pakistan43. education health and human capital44. economic problems of developing countries45. theories of economic development46. basic of economics47. consumer theory vs real consumers48. applied microeconomics49. long term economic growth50. externality internality51. fiscal and monetary policy52. prices wages taxes53. balance of payments aid and foreign investment54. international factor movements and multinational corporations55. entrepreneurship organization and innovation56. the international economy and globalization57. population and development58. non tariff trade barriers59. foundations of modern trade theory60. global economic development61. market62. rural poverty and agricultural transformation63. regional trading arrangements64. foreign exchange65. introduction to economics66. world economy miscellaneous67. sources of comparative advantage68. natural resources and the environment toward sustainable development69. monopoly70. asymmetric information71. income inequality72. labour market73. tariffs74. development planning and policy making the state and the market75. oligopoly76. industrial development77. costs supply and perfect competition78. human capital79. monetary fiscal and incomes policy and inflation80. stocks
2851. In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?
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A. 75/25

B. There is no rational solution

C. Jan-99

D. 50/50

E. 99/1
2852. Black Volcanic soil and tropical climate is most suitable without excess rainfall for which crop ?
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A. Jute

B. Tobacco

C. None of these

D. Cotton
2853. U.S total official development assistance to developing countries is ?
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A. None of the above statements is true

B. higher currently than it was in the 1960s and 1970s

C. lowest among the OECD countries

D. is equivalent to Hollands aid

2854. In the country X it is now becoming possible to buy electricity from a gas company and gas from an electricity company. This is called ?
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A. natural monopoly.

B. deregulation

C. making markets contestable

D. cross-subsidization.

2855. Which one is the main source of foreign exchange earning ?
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A. foreign remittances

B. agriculture

C. textile

D. manufacturing

2856. If firms satisfice this means that ?
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A. objectives such as profit are not maximized

B. short-run profits are maximized

C. managers need to be paid enough to stop them leaving the company

D. long-run profits are maximized

2857. Food crops cover about ___ of cropped areas?
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A. 55%

B. 75%

C. 35

D. 15%

2858. When the Indus Water Treaty was signed ?
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A. 19th September 1962

B. 19th November 1964

C. 19th September 1960

D. 19th December 1965

2859. If there are implicit costs of production ?
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A. economic profit and accounting profit will be equal

B. economic profit will exceed accounting profit

C. accounting profit will exceed economic profit

D. economic profit will always be zero

E. accounting profit will always be zero

2860. _________ is the backbone of the Pakistan economy and the mainstay of our national economic life?
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A. Trade

B. Industrial

C. Agriculture

D. Service

2861. Pakistans largest food crop is ?
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A. Wheat

B. Cotton

C. Rice

D. Sugarcane

2862. The scientific method requires that ?
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A. the scientist be objective

B. the scientist uses test tubes and have clean lab.

C. only theories are tested.

D. The scientific use precision equipment.

E. only correct theories are tested

2863. What is the share of forest area as percent of the total geographical area of the country ?
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A. 4.8

B. 4.5

C. 2.8

D. 3.8

2864. Which crops are sown in Rabi Season ?
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A. red gram

B. cotton

C. black gram

D. Wheat

2865. The crop most susceptible to frost it ?
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A. Cotton

B. red gram

C. black gram

D. Wheat

2866. What is the total estimated forest area of Sindh ?
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A. 0.92 million hectares

B. 2.92 million hectares

C. 0.92 million hectares

D. 1.92 million hectares

2867. Which of the following statements regarding the circular-flow diagram is true ?
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A. The factors of production are owned by households

B. None of these

C. If BAe Systems sells a military aircraft, the transaction takes place in the market for factors for production

D. If Susan works for BAe Systems and receives a salary payment, the transaction takes place in the market for good and services.

2868. How much of the total export earning is through agriculture ?
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A. 65%

B. 60%

C. 55%

D. 45%

2869. Which of the following is not true about how people make decisions ?
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A. People are sometimes too sure of their own abilities

B. people give too much weight to a small number of vivid observations

C. All of these answers are actually true statements about how people make decisions.

D. People are always rational maximizers

E. People are reluctant to change their minds in the face of new information

2870. What is the period of Rabi season ?
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A. January-Mar to April-June

B. May-June to July-Aug

C. Oct-Dec to April-May

D. Oct-Nov to April-June

2871. Irrigation was developed in the Indus Valley Civilization by around ______?
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A. 4100 BCE

B. 4500 BCE

C. 4000 BCE

D. 4200 BCE

2872. Williamson suggests that managers might NOT try to achieve ?
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A. maximum profits.

B. job security

C. respect of other managers.

D. a large number of subordinates

2873. Livestock sector accounts for nearly 36 percent of agriculture value added and about 9.0 percent of the ?
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A. GDP

B. GNP

C. export earnings

D. budget

2874. About ____ of land is cultivated through irrigation water?
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A. 15%

B. 75%

C. 55%

D. 35%

2875. In the long run, if a very small factory were to expand its scale of operations it is likely that it would initially experience ?
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A. diseconomies of scale

B. an increase in average total costs

C. constant returns to scale

D. economies of scale
2876. During the year 1999-2000 how much timber was contributed by the forest sector ?
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A. 543 thousand cubic meters

B. 343 thousand cubic meters

C. 243 thousand cubic meters

D. 425 thousand cubic meters
2877. Up till now how much of the water-logged and saline land has been reclaimed ?
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A. 16 million acres

B. 14 million acres

C. 12 million acres

D. 18 million acres
2878. Spending on motoring as a % of household expenditure in the UK shows that motoring is ?
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A. a superior good

B. a potential public good

C. Environmentally damaging

D. an inferior good

2879. When firm build in Organizational slack they do this in order to ?
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A. cope with unforeseen changes

B. maximize growth.

C. minimize conflict within the firm

D. both options one and three
2880. Rice account for 6.6 percent in value added in agriculture. What is its contribution in GDP ?
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A. 6.1%

B. 22%

C. 19%

D. 1.60%

2881. Privatization is the transfer of ?
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A. corporately owned businesses to individuals

B. publicly held stock to private individuals.

C. government businesses to the private sector

D. privately owned businesses to the government sector

2882. Which of the following is a response to Peoples inconsistent behavior over time ?
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A. year-end bonuses

B. forced contributions to a retirement plan

C. all of these answers

D. efficiency wages

2883. Which of the following is NOT a common reason for a merger?
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A. To achieve economies of scale

B. To increase competition

C. To achieve faster growth

D. To reduce uncertainty

2884. If as the quantity produced increase a production function first exhibits increasing marginal product and later diminishing marginal product, the corresponding marginal-cost curve will ?
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A. be flat (horizontal)

B. slope downward

C. slope upward

D. be U-shaped.
2885. A horizontal merger is a merger of?
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A. firms producing the same product

B. firms at various stages in a production process.

C. firms producing complementary products

D. firms producing unrelated products

2886. How much of the total area cultivated is under irrigation system ?
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A. 70%

B. 85%

C. 80%

D. 65%

2887. If marginal costs equal average total costs ?
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A. average total cost is falling

B. average total cost is raising

C. average total cost is maximized

D. average total cost is minimized
2888. Which is the longest canal of Pakistan ?
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A. Lloyd Canal

B. Fordwah Canal

C. Abbasie Canal

D. Nara Canal

2889. Economic growth is depicted by ?
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A. a movement along a production possibilities frontier toward capital goods.

B. a shift in the production possibilities frontier outward.

C. a movement from inside the curve toward the curve.

D. a shift in the production possibilities frontier inward

2890. Kharif crop includes ?
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A. Cotton and maize

B. Rice & Sugarcane

C. All of them

D. Bajra and Jawar

2891. one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
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A. instantly

B. slowly

C. very infrequently

D. quickly
2892. What was the yield of wheat in 2010-11 ?
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A. 2247 kgs/hec

B. 2237 kgs/hec

C. 2217 kgs/hec

D. 2314 kgs/hec
2893. Kharif crops include ?
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A. bajra & jawar

B. cotton & maze

C. All of them

D. rice & sugarcane

2894. Which is the second largest staple food crop in Pakistan ?
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A. rice

B. Wheat & flour

C. Wheat

D. flour

2895. Which soil is best suited for deep rooted crops ?
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A. Red soil

B. None of these

C. Black soil

D. Literate soil

2896. One third of the nations energy need is fulfilled by ?
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A. LPG

B. oil

C. forest sector

D. gas

2897. Between 1990 and 1999 car ownership per thousand of the population fell in ?
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A. Spain

B. USA

C. UK

D. Belgium

2898. The expectations augmented Phillips curve was the Work of which group of economists ?
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A. Keynesian.

B. New classical economists

C. Monetarists

D. Marxists.

2899. When the period of Kharif crop starts and when ends ?
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A. April-July, Oct-Nov

B. Jan-May, Oct-Sept

C. April-May, Oct-Dec

D. April-June, Oct-Sept
2900. Which of the following is not a method firms use to avoid the moral hazard problem in the employment relationship ?
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A. They buy life insurance on their workers

B. They pay above equilibrium wages

C. They pay employees with delayed compensation such as a year-end bonus

D. They put hidden video cameras in the workplace