SPSC Lecturer Economics Past Paper 31-01-2011 21- Basket of main currencies is: A. US Dollar, Euro, Japanese YenB. US Dollar, Euro, Japanese Yen, British PoundC. US Dollar, Euro, Japanese Yen, British Pound, Chinese YuanD. All of these View Answer Answer : B. US Dollar, Euro, Japanese Yen, British Pound Description 22- The largest sector, attracting a big chunk of total foreign direct investment in Pakistan is: A. Chemical and Pharmaceuticals B. Trade, transport and Communication C. Oil and Gas and Power SectorD. Electronics View Answer Answer : C. Oil and Gas and Power Sector Description 23- Pakistan is pursuing: A. Flexible exchange rate system B. Fixed exchange rate system C. Managed float through BankD. All of these View Answer Answer : C. Managed float through Bank Description 24- The largest indirect Tax revenue collection is through: A. Income tax B. GSTC. Customs duty D. Wealth tax View Answer Answer : B. GST Description 25- A demand curve shows the relationship between the quantity demanded for a commodity over a given time and: A. The tastes of consumer B. The money income of consumer C. The price of related commodities D. The price of the commodity View Answer Answer : D. The price of the commodity Description 26- Which of the following would be the best measure of changes in the standard of living in an economy, expressed in a time series? A. real GDP B. Output per labour hour of output C. real GDP per capitaD. nominal GDP per capita View Answer Answer : C. real GDP per capita Description 27- For money to serve as an efficient medium of exchange, it must have all but which of the following characteristics? A. general acceptability B. convertibility into precious metalsC. divisibilityD. high value relative to its weight View Answer Answer : B. convertibility into precious metals Description 28- Money can be a standard of deferred payments only if the value of money itself: A. Remains stableB. IncreasesC. DecreasesD. None of these View Answer Answer : A. Remains stable Description 29- Personal income is obtained by adding which items to national income: A. Government transfer payments B. Business transfer payments C. Both A and BD. None of these View Answer Answer : C. Both A and B Description 30- The impact and incidence of sales tax is: A. On the consumerB. On the seller C. On the producer D. None of these View Answer Answer : A. On the consumer Description 31- Economic growth: A. Refers to qualitative change experienced by an economic system B. Is synonymous with economic development? C. When an economic system acquired greater productive capacityD. Always result in increased real per capita output View Answer Answer : C. When an economic system acquired greater productive capacity Description 32- When demand is elastic: A. A fall in price is more than offset by an increase in quantity demanded, so that total revenue risesB. The good is probably a necessity, so price has little effect on quantity demandedC. A rise in price will increase total revenue, even though less is sold D. buyers are not much influenced by prices of competing products View Answer Answer : A. A fall in price is more than offset by an increase in quantity demanded, so that total revenue rises Description 33- Old age pension payment is transfer payment. A. TrueB. False View Answer Answer : A. True Description 34- A horizontal indifference curve represents some specific case. A. TrueB. False View Answer Answer : B. False Description 35- Protectionism in the international trade stands for semi-restricted trade. A. TrueB. False View Answer Answer : A. True Description 36- Sale of a new car by an automobile dealer will not affect National product. A. TrueB. False View Answer Answer : B. False Description 37- Reflex action in the body is controlled by: A. Motor nerves B. Sensory nerves C. Central nervous systemD. None of these View Answer Answer : C. Central nervous system Description 38- Ultra filtering unit of kidney is known as: A. NephronB. GlomerulusC. TubuleD. Vena cava View Answer Answer : A. Nephron Description 39- Allergy is caused due to: A. Inflammation of upper respiratory tract B. Antigen-antibody reactionC. Introduction of external material into body D. None of these View Answer Answer : B. Antigen-antibody reaction Description 40- The largest cell in the human body is: A. Liver cell B. Nerve cell C. Muscle cell D. Kidney cell View Answer Answer : B. Nerve cell Description 1 2 3
