FPSC lecturer Economics bs-17
Federal Public Service Commission FPSC Lecturer Economics Mcqs Paper for Written Test Preparation
Lecturer Economics Mcqs Paper for Written Test Preparation
1. Which of the following concepts represents the extra revenue a firm receives from the services of an additional unit of a factor of production?
a. total revenue
b. marginal physical product
c. marginal revenues product
d. marginal revenue
1 15
2 28
3 39
4 48
5 55
6 60
a. 2
b. 3
c. 4
d. 5
e. 6
a. marginal revenue product
b. marginal physical product
c. marginal cost
d. wage
a. the law of demand
b. the iron law of wages
c. the law of diminishing marginal returns
d. economies of scale
a. there are few substitutes for labor
b. there is a short time under consideration
c. labor is a large percent of the total cost of production
d. the demand for the product is relatively inelastic
e. all of the above
a. general skills
b. specific skills
c. non-pecuniary skills
d. all of the above
a. General skills
b. Specific skills
c. Educational skills
a. The product made by worker A sells for a higher price than that made by worker B
b. Worker A uses more capital per worker than worker B
c. Worker A has more natural ability than worker B
d. All of the above
a. Human capital
b. Embodied skills
c. Physical capital
d. Experience skills
a. pure discrimination
b. statistical discrimination
c. human capital
d. specific skills
a. one seller of the product
b. low barriers to entry
c. close substitute products
d. perfect information
a. the price is greater than the marginal revenue
b. the price is less than the marginal revenue
c. there is no relation
d. they are equal
a. marginal revenue equals average total cost
b. price equals marginal revenue
c. marginal revenue equals marginal cost
d. total revenue equals total cost
1 $100 $ 60
2 95 130
3 90 210
4 85 300
5 80 400
a. 1
b. 2
c. 3
d. 4
e. 5
a. charge a higher price
b. produce a lower quantity of the product
c. make a greater amount of economic profit
d. all of the above
a. economies of scale
b. a high proportion of the total cost is the cost of capital goods
c. the market is very small
d. all of the above
a. SDG&E has been allowed to earn very high economic profits
b. The profits of SDG&E are calculated as a percent of the value of the capital goods
c. When the demand for electricity would fall, the price of electricity would also fall
d. All of the above
a. charging different prices on the basis of race
b. charging different prices for goods with different costs of production
c. charging different prices based on cost-of-service differences
d. selling a certain product of given quality and cost per unit at different prices to different buyers
a. some degree of monopoly power
b. an ability to separate the market
c. an ability to prevent reselling
d. all of the above
a. the section with the richest people
b. the section with the oldest people
c. the section with the most inelastic demand
d. the section with the most elastic demand
Economics MCQs Lecturers’ Test
1. Polulation theory Malthus-
2. Labour planning-
3. Labour welfare does not include= health, edu, home, and quick promotion
4. Micro economics refers to individual unit
5. Proportional tax is flat tax
6. Most regressive is sales tax
7. Capitalism refers to
8. Per capita income formula national income divided by population
9. Canon of equity social justice, porgressive tax, both a and b(correct answer) and none of these
10. Index to measure inflation-CPI
11. Propensity to consume
12. Isoquant is convex to origin
13. Inconsistent to notion of profit competition-
14. Assumption indifference curve-
15. Monopsony -one purchaser/buyer
16. Law of demand
17. Depreciation value-capital good
18. Devaluation –official decrease in money
19. Demand curve-ordinary good
20. Difference between economic profit and account profit
21. Central bank-not function: a) loan business and individual
22. Money function-a) medium of exchange and store value
23. Monetary policy- to supply money
24. In marketing selling and buying: primary function
25. Buyer market in which b) supply exceeds demand
26. Transfer of payment:
27. Normative economics
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