SPSC Lecturer Economics Past Paper 15-03-2021 41- Which of the following might help to make the distribution of original incomes more unequal? A. A rise in the State Pension B. A ceiling on the number of hours that people were allowed to work each weekC. A policy to encourage more low income households to buy shares in companiesD. An effective policy to reduce bankers’ bonuses View Answer Answer : C. A policy to encourage more low income households to buy shares in companies Description 42- In what circumstances is an economy said to be in recession? A. If real GDP falls in one quarter compared with the quarter beforeB. If real GDP falls for two consecutive quartersC. If real GDP falls in one year compared with the year beforeD. If real GDP falls for two consecutive years View Answer Answer : B. If real GDP falls for two consecutive quarters Description 43- Suppose that one month, injections in a four-sector economy are greater than withdrawals. Which of the following statements is false? A. Planned spending will be greater than outputB. Actual investment will be less than planned investmentC. Planned investment must exceed planned saving D. If real GDP falls for two consecutive quarters View Answer Answer : B. Actual investment will be less than planned investment Description 44- In new classical business cycle theory, the short-run aggregate supply curve: A. Is verticalB. Is horizontal C. has a positive slopeD. has a negative slope View Answer Answer : C. has a positive slope Description 45- In which of the following market structures with 2 identical firms do both firms produce more than the Cournot outcome: A. CartelB. Perfect Competition C. Stackelberg DuopolyD. None of these View Answer Answer : C. Stackelberg Duopoly Description 46- A rule specifying the minimum percentage of deposits that must be held in currency or other safe, liquid assets is called a: A. Deposit requirement B. Reserve requirementC. Lending requirementD. Equity capital requirement View Answer Answer : B. Reserve requirement Description 47- A well-functioning Government will produce more of ______ than a private market: A. An excludable good B. A public goodC. A private goodD. A rival good View Answer Answer : B. A public good Description 48- Choose the Antonym of “Vagrant”: A. DerelictB. WayfarerC. StableD. Vagabond View Answer Answer : C. Stable Description 49- Nushkha Hai Wafa is the poetic collection of: A. Ibn-e-InshaB. Mir Taqi Mir C. Faiz Ahmed FaizD. Nasir Kazmi View Answer Answer : C. Faiz Ahmed Faiz Description 50- Imran Khan is the ______ Prime Minister of Pakistan. A. 20thB. 22ndC. 24thD. 27th View Answer Answer : B. 22nd Description 1 2 3
