Tests of Economics Economics MCQs 97 Welcome to Shaheen Leader Academy We expect 100% result. Click on Start Button. Your time is Ended. Thanks Economics Quiz 1 / 25 The shape of rectangular  hyperbola is made by ;- AFC AVC MC 2 / 25 Pakistan started its planning experience with:- Karachi plan Colombo plan London plan Tokyo plan 3 / 25 At present the base year for measuring  national income at constant  prices is  :- 2002-03 1993-94 2001-02 4 / 25 The aggregate supply curve in a realistic Keynesian world are:- Vertical Horizontal only till the full capacity level fully horizontal 5 / 25 Which pairs of  commodities is an example of substitute ;- Tea and coffee Tea and sugar Pen and Ink 6 / 25 Investment depends on:- Historic data Past level of income Present national incomelevel Future expected profits 7 / 25 Demand  for factors of production is ;- Composite demand Derived demand Joint demand 8 / 25 The  horizontal demand curve  parallel to x axis implies that the elasticity  of demand is :- infinite equal to 1 0 9 / 25 An increase in national income is:- Likely to increase export Likely to decrease saving Likely to decrease investment Likely to increase spending on imports 10 / 25 Reducing inflation is a more important objective than economic growth' is an example of:- Reality economics Normative economics Objective economics Positive economics 11 / 25 Which kind of economics deal with issues, such as unemployment, inflation, and economic growth:- Microeconomics Macroeconomics Growth economics Political economics 12 / 25 Which oligopoly models is concerned with the maximization of joint profits :- Price leadership model Collusive model Bertrand's model 13 / 25 If indirect taxes are deducted from NNP and subsidies are added we achieve:- National income DPI Per capital income Personal saving 14 / 25 Wealth of Nation' was written in:- 1896 1886 1996 1776 15 / 25 If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge:- The higher price in market B none of them same price in both markets The higher price in market A 16 / 25 For a firm operating in two markets and price discriminating the profit maximizing condition is:- Marginal revenue in A = Marginal revenue B = Marginal cost Marginal revenue in A = Price B Marginal revenue in A = Price A 17 / 25 Which is not a central problem of an economy;- How to maximize private profit How to produce what to produce 18 / 25 The AR curve and industry  demand  curve  are same in case of :- Oligopoly Monopoly Perfect competition 19 / 25 Which is the basic economic problem which is common in all economic systems:- to reduce taxation Elimination of inflation Allocation of source resources to increase imports 20 / 25 In a recession:- Growth is slow Growth is negative Prices are likely to increase Unemployment is likely to low 21 / 25 A decrease in the supply of labour is likely is lead to :- A higher equilibrium wage and lower quantity of labour A lower equilibrium wage and lower quantity of labour A lower equilibrium wage and higher quantity of labour 22 / 25 Market  failure may not arise in the case of :- increasing return to scale public goods the consumption externalities 23 / 25 In the short run , when the output  of a firm increase  its average  fixed cost ;- Remain constant Decrease increase 24 / 25 Purchasing power parity theory  was propounded by Gustac  Cassele in years ;- 1923 1922 1921 25 / 25 Net export equal:- Export + imports Export - imports None of them Exports of service only Your score is LinkedIn Facebook Twitter VKontakte Restart quiz Apply Here for Online Registration