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FPSC Economics Lecturer Test → FPSC Economics Lecturer Sample Paper Questions from 21 to 30

Pages: 1 | 2 | 3 | 4 | 5

21. Which best describes price discrimination?
(A) Charging different prices for different products
(B) Charging the same prices for different products
(C) Charging the same prices for the same products
(D) Charging different prices for the same products

22. If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge
(A) The higher price in market A
(B) The higher price in market B
(C) The same price in both markets
(D) Cannot tell which price will be higher

23. Barriers to entry
(A) Enable abnormal profits to be made in the long run
(B) Enable losses to be made in the long run
(C) Enable abnormal profits to be made in the short run only
(D) Occur in perfect competition

24. A decrease in the supply of labour is likely to lead to
(A) A lower equilibrium wage and lower quantity of labour employed
(B) A lower equilibrium wage and higher quantity of labour employed
(C) A higher equilibrium wage and higher quantity of labour employed
(D) A higher equilibrium wage and lower quantity of labour employed

25. Which of the following is a macroeconomic issue?
(A) The price of houses in Oxford
(B) The wage rate for plumbers in London
(C) Your decision to work or stay at home
(D) The level of unemployment in the UK

26. Which of the following is not involved with fiscal policy?
(A) Income tax
(B) National insurance
(C) VAT
(D) Interest rates

27. An increase in national income is
(A) Likely to increase exports
(B) Likely to decrease savings
(C) Likely to decrease investment
(D) Likely to increase spending on imports

28. Which of the following is an injection into the economy?
(A) Investment
(B) Savings
(C) Taxation
(D) Import spending

29. Net National Product equals
(A) Gross National Product adjusted for inflation
(B) Gross Domestic Product adjusted for inflation
(C) Gross Domestic Product plus net property income from abroad
(D) Gross National Product minus depreciation

30. In a recession
(A) Unemployment is likely to be low
(B) Prices are likely to increase
(C) Growth is negative
(D) Growth is slow

ANSWERS: ECONOMICS LECTURER SAMPLE PAPER
21. (D)
22. (A)
23. (A)
24. (D)
25. (D)
26. (D)
27. (D)
28. (A)
29. (D)
30. (C)