FPSC Lecturer Test: (1) English Section (2) Subject Section (3) Education Section

FPSC economics lecturer past papers MCQs solved questions with answers. These economics lecturer test multiple choice questions are also useful for PPSC SPSC NTS KPPSC economics lecturer test.

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

1. The best measure to see overall performance of an economy of a country is
(A) GDP
(B) GNP
(C) NNP
(D) NNI

2. National Income (or National Income at Factor Cost) = ?
(A) NNP – Indirect Taxes
(B) NNP – Subsidies
(C) NNP + Indirect Taxes – Subsidies
(D) NNP – Indirect Taxes + Subsidies

3. 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 __________ %.
(A) 16
(B) 18
(C) 20
(D) 22

4. The term “Goods are scarce” means?
(A) There is no supply of goods
(B) There is no demand of goods
(C) Goods are limited relative to desires
(D) Goods are expensive because of shortage

5. When demand is price-inelastic, a price decrease
(A) reduces total revenue
(B) increases total revenue
(C) reduces total demand
(D) increases total demand

6. As the amount of a good consumed increases, the __________ of that good tends to diminish.
(A) profit
(B) cost
(C) propensity to consume
(D) marginal utility

7. When a country’s currency falls in value relative to that of another country, the first country’s currency has undergone
(A) depreciation
(B) appreciation
(C) devaluation
(D) revaluation

8. Pakistan is __________ largest country in terms of population.
(A) 5th
(B) 6th
(C) 7th
(D) 8th

9. Pakistan is __________ largest country in terms of nominal GDP.
(A) 36th
(B) 40th
(C) 42nd
(D) 44th

10. The agriculture sector employs __________ of the country’s labour force.
(A) 30
(B) 35
(C) 40
(D) 45

ANSWERS: FPSC ECONOMICS PAST PAPERS
1. (A)
2. (D)
3. (C)
4. (C)
5. (A)
6. (D)
7. (A)
8. (B)
9. (D)
10. (D)