SPSC Lecturer Economics Paper 29-04-2024 Page 3

SPSC Lecturer Economics Past Paper 29-04-2024

41- At any level of output where short run average cost curve is tangent to the long run average cost curve then we also have:

A. LMC > SMC

B. LMC < SMC

C. LMC = SMC

D. LMC = LAC (E) LMC < SMC

View Answer

Answer : C. LMC = SMC

Description

42- In monopolistic competition, long-run equilibrium involves:

A. Zero economic profit

B. Perfect price discrimination

C. Excess capacity

D. Homogeneous products

View Answer

Answer : A. Zero economic profit

Description

43- If the elasticity of demand for a product is -0.5, this means that:

A. Demand is perfectly elastic

B. Demand is inelastic

C. Demand is unit elastic

D. Demand is elastic

View Answer

Answer : B. Demand is inelastic

Description

44- The monetary base consists of:

A. Reserve at the Federal Reserve plus vault cash

B. Deposits of member banks at the Federal reserve

C. Euro-dollars and foreign deposits at the Federal Reserve

D. Reserves plus currency in circulation

View Answer

Answer : D. Reserves plus currency in circulation

Description

45- The natural rate of unemployment is:

A. The unemployment rate that exists when the economy is in a boom

B. The unemployment rate that exists when the economy is in a recession

C. The unemployment rate that exists when the economy is at full employment

D. The unemployment rate that exists when the economy is in a depression

View Answer

Answer : C. The unemployment rate that exists when the economy is at full employment

Description

46- If Fiscal Policy is trying to promote stability and economic growth through tax cuts, what type of policy is Fiscal policy using?

A. Expansionary Fiscal Policy

B. Restrictive Fiscal Policy

C. Easy Money Policy

D. Tight Money Policy

View Answer

Answer : A. Expansionary Fiscal Policy

Description

47- MFN is the abbreviation of:

A. The most favored nation

B. The most favorite nation

C. The most friendly nation

D. None of these

View Answer

Answer : A. The most favored nation

Description

48- How much ____ where you live?

A. Do houses cost

B. Does houses cost

C. Does cost houses

D. Do cost house

View Answer

Answer : A. Do houses cost

Description

49- What synonym of “Arrogant” is:

A. Humble

B. Conceited

C. Progressive

D. Noble

View Answer

Answer : B. Conceited

Description

50- Which one is the synonym for “humble”?

A. Modest

B. Headstrong

C. Timeless

D. None of these

View Answer

Answer : A. Modest

Description

SPSC Lecturer Economics Past Paper 29-04-2024

41- At any level of output where short run average cost curve is tangent to the long run average cost curve then we also have:

A. LMC > SMC

B. LMC < SMC

C. LMC = SMC

D. LMC = LAC (E) LMC < SMC

Answer : C. LMC = SMC

42- In monopolistic competition, long-run equilibrium involves:

A. Zero economic profit

B. Perfect price discrimination

C. Excess capacity

D. Homogeneous products

Answer : A. Zero economic profit

43- If the elasticity of demand for a product is -0.5, this means that:

A. Demand is perfectly elastic

B. Demand is inelastic

C. Demand is unit elastic

D. Demand is elastic

Answer : B. Demand is inelastic

44- The monetary base consists of:

A. Reserve at the Federal Reserve plus vault cash

B. Deposits of member banks at the Federal reserve

C. Euro-dollars and foreign deposits at the Federal Reserve

D. Reserves plus currency in circulation

Answer : D. Reserves plus currency in circulation

45- The natural rate of unemployment is:

A. The unemployment rate that exists when the economy is in a boom

B. The unemployment rate that exists when the economy is in a recession

C. The unemployment rate that exists when the economy is at full employment

D. The unemployment rate that exists when the economy is in a depression

Answer : C. The unemployment rate that exists when the economy is at full employment

46- If Fiscal Policy is trying to promote stability and economic growth through tax cuts, what type of policy is Fiscal policy using?

A. Expansionary Fiscal Policy

B. Restrictive Fiscal Policy

C. Easy Money Policy

D. Tight Money Policy

Answer : A. Expansionary Fiscal Policy

47- MFN is the abbreviation of:

A. The most favored nation

B. The most favorite nation

C. The most friendly nation

D. None of these

Answer : A. The most favored nation

48- How much ____ where you live?

A. Do houses cost

B. Does houses cost

C. Does cost houses

D. Do cost house

Answer : A. Do houses cost

49- What synonym of “Arrogant” is:

A. Humble

B. Conceited

C. Progressive

D. Noble

Answer : B. Conceited

50- Which one is the synonym for “humble”?

A. Modest

B. Headstrong

C. Timeless

D. None of these

Answer : A. Modest

1

2

3

Leave a Reply Cancel reply