MCQOPTIONS
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MCQOPTIONS
This section includes 381 Mcqs, each offering curated multiple-choice questions to sharpen your General knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
Identity the false statement among the followings: |
| A. | If prices rise, real income also rises |
| B. | In calculating national income, retirement pension are excluded |
| C. | Stock of goods not sold by the producer, is excluded from GNP |
| D. | None of the above one |
| Answer» B. In calculating national income, retirement pension are excluded | |
| 102. |
Technological improvements are similar to international trade since they both ? |
| A. | Provide benefits for all producers and consumers |
| B. | Reduce unemployment for all domestic workers |
| C. | Ensure that industries can operate at less than full capacity |
| Answer» C. Ensure that industries can operate at less than full capacity | |
| 103. |
Social movements tend to______________? |
| A. | resist change |
| B. | encourage change |
| C. | redirect change |
| D. | all of the above |
| Answer» E. | |
| 104. |
Term the exclusive right of one or more persons to carry on some branch of trade of manufacture It is a sole power of dealing in something ? |
| A. | Encroachment |
| B. | Monotony |
| C. | Unipolarity |
| D. | Monopoly |
| Answer» E. | |
| 105. |
The analysis considers the ability of domestic and foreign price of adjust to devaluation in the short run ? |
| A. | pass through |
| B. | absorption |
| C. | adjustment mechanism |
| D. | currency contract period |
| Answer» B. absorption | |
| 106. |
sociocultural change means that______________? |
| A. | social change is really separate from cultural change |
| B. | cultural change has nothing to do with social change |
| C. | social and cultural change are interrelated |
| D. | the concept is a contradiction in terms |
| Answer» D. the concept is a contradiction in terms | |
| 107. |
A stock exchange is: |
| A. | A central market for buying and selling all kind of goods |
| B. | A place where any businessman can borrow money from the members |
| C. | A place where a register is kept of all public and private limited companies |
| D. | A central market for buying and selling all kinds of securities |
| Answer» B. A place where any businessman can borrow money from the members | |
| 108. |
Underground economic activity that is not declared for taxation purposes is called |
| A. | Black Trade |
| B. | Black Country |
| C. | Black Economy |
| D. | Black List |
| Answer» B. Black Country | |
| 109. |
Structured inequality of gender roles_____________? |
| A. | has been with humans from the dawn of culture |
| B. | began with hunting and gathering societies |
| C. | has its origins in agricultural communities? |
| D. | is peculiar to industrial societies |
| Answer» D. is peculiar to industrial societies | |
| 110. |
Stratification systems tend to________________? |
| A. | differentiate among people within societies |
| B. | equalize the status of people in a society |
| C. | oppress children and the old |
| D. | create conflict between old and young |
| Answer» B. equalize the status of people in a society | |
| 111. |
Monopoly advantage is usually the result of greater opportunities such as ? |
| A. | access to more economic information than competitors |
| B. | - superior access to training and education |
| C. | I- a lower discount of future earnings |
| D. | - larger firm size |
| Answer» B. - superior access to training and education | |
| 112. |
Which of the following policies would be most appropriate for the State Bank of Pakistan to follow if it wished to make it more difficult for the commercial banks to grant loans? |
| A. | Buying long-term securities in the open market |
| B. | Raise the percentage of special deposits required |
| C. | Reduce the liquidity ratio |
| D. | Borrow through treasury bills rather than long term bonds |
| Answer» B. Raise the percentage of special deposits required | |
| 113. |
Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________? |
| A. | 2 million barrels per day, $100, $60 million |
| B. | 4 million barrels per day, $80, $160 million |
| C. | 6 million barrels per day, $60, $60 million |
| D. | 8 million barrels per day, $40, $20 million |
| Answer» C. 6 million barrels per day, $60, $60 million | |
| 114. |
Which of the following is a form of urban bais ? |
| A. | Government may set price floors on food and price ceilings for industrial goods |
| B. | - Tax incentive and subsidies to infant industry |
| C. | I- Tariff and quota protection for industry |
| D. | - Spending more for education training housing, health and transport in urban areas than in rural areas. |
| Answer» B. - Tax incentive and subsidies to infant industry | |
| 115. |
A piece of paper entitling the owner to money payments, cutprice or free goods or rations is called |
| A. | Cheque |
| B. | Note |
| C. | Coupon |
| D. | Bond |
| Answer» B. Note | |
| 116. |
Which of the following was a socialist country ? |
| A. | Holland |
| B. | - Soviet Union |
| C. | I- China |
| D. | - India |
| Answer» B. - Soviet Union | |
| 117. |
Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ? |
| A. | Price fall, output rises |
| B. | Price fall, output falls |
| C. | Price rise, output fall |
| D. | Price rise, output rise |
| Answer» E. | |
| 118. |
Identify the main functions of IMF: |
| A. | To provide loans to the members of UNO for development of Industrial infra structure |
| B. | To make foreign exchange resources available for those countries that want to import essential items of food |
| C. | To make foreign exchange resources available for those countries facing balance of payments difficulties |
| D. | None of the above |
| Answer» B. To make foreign exchange resources available for those countries that want to import essential items of food | |
| 119. |
The abolitionist movement sought the abolition of_______________? |
| A. | alcohol consumption |
| B. | states rights |
| C. | slavery |
| D. | compulsory education |
| Answer» D. compulsory education | |
| 120. |
A budget is best described as: |
| A. | A list of expenditure made during the previous year |
| B. | An estimate of expected income and a plan for expenditure |
| C. | A means of raising money for necessary expenditure |
| D. | A plan for purchasing the best quality goods at the lowest prices |
| Answer» B. An estimate of expected income and a plan for expenditure | |
| 121. |
Token coins are |
| A. | Not legal tender |
| B. | Valueless |
| C. | Worthless than the value of the metal they contain |
| D. | Worth more than the value of the metal they contain |
| Answer» B. Valueless | |
| 122. |
Similarities common to all cultures are called_________________? |
| A. | pivotal institution |
| B. | cultural universals |
| C. | culture traits |
| D. | culture complexes |
| Answer» C. culture traits | |
| 123. |
Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good Y, the marginal rate of substitution of good Y for good X (the slope of the indifference curve) ? |
| A. | rises |
| B. | stays the same |
| C. | could rise or fall depending on the relative prices of the two goods. |
| D. | falls |
| Answer» B. stays the same | |
| 124. |
The shorter the ______ pass through period the ______ the desirable BOT effects of evaluation on quantities traded will appear ? |
| A. | sooner |
| B. | longer |
| C. | bigger |
| D. | smaller |
| Answer» B. longer | |
| 125. |
The period over which the cumulative net revenue from an investment project equals the original investment is known as: |
| A. | Payback |
| B. | Paycheck |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Paycheck | |
| 126. |
Suppose the government increases its purchases by Rs16 billion. If the multiplier effect exceeds the crowding out effect, then ? |
| A. | The aggregate supply curve shifts to the right by more than Rs 16 billion |
| B. | The aggregate demand curve shifts to the left by more than Rs 16 billion |
| C. | The aggregate demand curve shifts to the right by more than Rs 16 billion |
| D. | the aggregate supply curve shifts to the left by more than Rs 16 billion |
| Answer» D. the aggregate supply curve shifts to the left by more than Rs 16 billion | |
| 127. |
The 1993 World Bank study entitled The East Asian Miracle identifies eight high performing Asian economies. Which of the following is not one of them ? |
| A. | Japan |
| B. | The four tigers |
| C. | Vietnam |
| D. | Thailand |
| Answer» D. Thailand | |
| 128. |
suburbanization today is based on__________________? |
| A. | skin color only |
| B. | homogeneous families |
| C. | social class |
| D. | the grass being greener in the suburbs |
| Answer» D. the grass being greener in the suburbs | |
| 129. |
Sialkot is also famous for Saddles & ? |
| A. | musical instruments |
| B. | agriculture machinery |
| C. | harvesters |
| D. | paper manufacturing |
| Answer» B. agriculture machinery | |
| 130. |
State-owned enterprises (SOEs) are also called ? |
| A. | centralized firms |
| B. | government oligopolies |
| C. | market economies |
| D. | public enterprises |
| Answer» E. | |
| 131. |
Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ? |
| A. | relatively greater than |
| B. | relatively less than |
| C. | the same as |
| D. | Any of the above |
| Answer» C. the same as | |
| 132. |
In a pure market economy, which of the following is a function of the price? I. provide information to sellers and buyers , II. provide incentives to sellers and buyers |
| A. | I only |
| B. | II only |
| C. | Both I and II |
| D. | Neither I nor II |
| Answer» B. II only | |
| 133. |
Shortly after 1979 World Bank introduced loans that emphasized reforms in trade, agriculture industry public enterprise financial energy education or other sectors and were know as ? |
| A. | Structural adjustment loans |
| B. | sectoral adjustment loans |
| C. | internal adjustment loans |
| D. | external leverage loans |
| Answer» C. internal adjustment loans | |
| 134. |
Suppose there is no tariff on imported inputs and the ratio of the value of imported inputs the value of the final product is 0.5 If the nominal tariff rate on the final product is 10 percent, the effective tariff rate equals ? |
| A. | 5 percent |
| B. | 10 percent |
| C. | 15 percent |
| D. | 20 percent |
| Answer» E. | |
| 135. |
Surgical instruments are made in ? |
| A. | Wazirabad |
| B. | Sialkot |
| C. | Lahore |
| D. | Gujranwala |
| Answer» B. Sialkot | |
| 136. |
Because of the J curve effect and partial currency pass through, a depreciation of the domestic currency tends to increase the size of a ? |
| A. | trade surplus in the short run |
| B. | trade surplus in the long run |
| C. | trade deficit in the short run |
| D. | trade deficit in the long run |
| Answer» E. | |
| 137. |
Since state and nation are not the same thing the preferred term for individual political entities is_______________? |
| A. | nation-sates or national states |
| B. | dominions |
| C. | principalities |
| D. | territories |
| Answer» B. dominions | |
| 138. |
Supply of land in a given use ? |
| A. | will be perfectly inelastic in the long run. but upward sloping in the short run |
| B. | is perfectly inelastic since there is a fixed amount of land |
| C. | is perfectly elastic since there is fixed amount of land |
| D. | will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase |
| Answer» E. | |
| 139. |
Tax incidence is the ? |
| A. | behaviour of shifting the tax to another party. |
| B. | structure of the tax |
| C. | measure of the impact the tax has on employment and output |
| Answer» D. | |
| 140. |
Which approach predicts that is an economy operates a full employment and faces trade deficit currency devaluation will improve the trade balance only if domestic spending is cut thus freeing resources to produce exports ? |
| A. | the absorption approaches |
| B. | the Marshall Lerner approach |
| C. | the monetary approach |
| D. | the elasticities approach |
| Answer» B. the Marshall Lerner approach | |
| 141. |
Suppose the demand for good Z goes up when the price of good Y goes down. We can say that goods Z and Y are ? |
| A. | perfect substitutes |
| B. | complements |
| C. | unrelated goods. |
| D. | substitutes. |
| Answer» C. unrelated goods. | |
| 142. |
If there is a price ceiling, which of the following is NOT likely to occur? |
| A. | Rationing by first-come, first-served |
| B. | Black markets |
| C. | Gray markets |
| D. | Sellers providing goods for free that were formerly not free |
| Answer» B. Black markets | |
| 143. |
Term a film that is engaged in two or more unrelated businesses ? |
| A. | Conglomerate |
| B. | Multinational |
| C. | giant |
| D. | Incorporation |
| Answer» B. Multinational | |
| 144. |
Status inconsistency is defined as_________________? |
| A. | the condition of persons who are ranked higher in one variable of status than another |
| B. | the order of importance given to status variables |
| C. | the mechanism high status persons use to protect themselves from competition |
| D. | the least important dimension of stratification |
| Answer» B. the order of importance given to status variables | |
| 145. |
Specialized division of labor in industrial societies can make workers feel that they_______________? |
| A. | have lack of control |
| B. | have no sense of accomplishment |
| C. | are an anonymous group |
| D. | all of the above |
| Answer» E. | |
| 146. |
General Sales Tax, under the constitution 1973 is a: |
| A. | Federal Subject |
| B. | Provincial Subject |
| C. | Concurrent subject |
| D. | None of the above one |
| Answer» B. Provincial Subject | |
| 147. |
Social organization________________? |
| A. | may be analyzed at the microsocial and the macrosocial levels |
| B. | is a fixed set of rules? |
| C. | is sometimes used interchangeably with social structure |
| D. | is microsocial macrosocial and interchangeable with social structure |
| Answer» E. | |
| 148. |
1. The most widely traded currency in the foreign exchange market is the ? |
| A. | euro |
| B. | Chinese Yuan |
| C. | British pound |
| D. | U.S dollar |
| Answer» E. | |
| 149. |
An example of indirect tax is: |
| A. | Corporation tax |
| B. | Income tax |
| C. | Rates |
| D. | Tobacco tax |
| Answer» B. Income tax | |
| 150. |
Immediately after a trough, we would expect to have a/an |
| A. | Peak |
| B. | Recession |
| C. | Recovery |
| D. | Another trough |
| Answer» B. Recession | |