FPSC Economics Past Papers
FPSC Economics Lecturer Past Test questions Page-1. Following are the questions from Past FPSC Economics Lecturer Test Papers. View answers to the questions at the bottom of the page.Pages: 1 | 2 | 3 | 4 | 5
The best measure to see overall performance of an economy of a country is?
National Income (or National Income at Factor Cost) = ?
- NNP – Indirect Taxes
- NNP – Subsidies
- NNP + Indirect Taxes - Subsidies
- NNP – Indirect Taxes + Subsidies
The nominal GDP of a certain country in 2010 was $80 billion and in 2013 was $64 billion. What is percent drop in nominal GDP is __________ %.
The term “Goods are scarce” means?
- There is no supply of goods
- There is no demand of goods
- Goods are limited relative to desires
- Goods are expensive because of shortage
When demand is price-inelastic, a price decrease __________ .
- reduces total revenue
- increases total revenue
- reduces total demand
- increases total demand
As the amount of a good consumed increases, the __________ of that good tends to diminish.
- propensity to consume
- marginal utility
When a country’s currency falls in value relative to that of another country, the first country’s currency has undergone __________ .
Pakistan is __________ largest country in terms of population.
Pakistan is __________ largest country in terms of nominal GDP.
The agriculture sector employs __________ of the country’s labour force.
ANSWERS: FPSC ECONOMICS PAST PAPERS