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Economics Past Paper MCQs
Economics-II 2024 MCQs
1 / 20
Pakistan’s 1st digital population censes was conducted in the year:
Pakistan conducted its first digital population census in 2023.
2 / 20
Economic development is measured by:
Economic development includes indicators of sustenance, freedom, and self-esteem that reflect improvements in quality of life.
3 / 20
Okun’s Law defines the relationship between:
Okun’s Law states an inverse relationship between unemployment and GDP growth, suggesting that as GDP rises, unemployment tends to fall.
4 / 20
Unemployment rate is relatively higher in _______ in Pakistan as per Labor Force Survey 2020-21.
The Labor Force Survey 2020-21 reports higher unemployment rates among the youth population in Pakistan.
5 / 20
Financial Inclusions mean:
Financial inclusion refers to having and actively using various financial products and services, including mobile accounts.
6 / 20
During FY 2022-23, Pakistan’s industrial sector growth rate is:
Pakistan’s industrial sector growth rate for FY 2022-23 was -2.94%, indicating a contraction in industrial output.
7 / 20
Fiscal and monetary policies are used to:
Fiscal and monetary policies are used to stabilize the economy by managing inflation, employment, and growth.
8 / 20
Quantity theory of money states that when quantity of money increases, value of money:
According to the quantity theory of money, an increase in the money supply typically lowers the value of money, potentially leading to inflation.
9 / 20
Goal 1 of Sustainable Developments Goals relates to:
Goal 1 of the Sustainable Development Goals (SDGs) relates to ending poverty, not hunger, economic growth, or education.
10 / 20
The CPI inflation for FY 2022-23 is:
The CPI inflation for Pakistan in FY 2022-23 was 29.3%, showing a high inflationary environment.
11 / 20
The monetary policy tools are used for:
Monetary policy tools aim to achieve price stability, financial stability, and economic growth.
12 / 20
Core inflation measures:
Core inflation excludes volatile items, focusing on the Consumer Price Index (CPI), which better reflects the underlying inflation trend.
13 / 20
Exchange rate depreciation improves:
A depreciated exchange rate makes exports cheaper and imports more expensive, potentially improving the trade balance.
14 / 20
According to the State Bank of Pakistan (SBP) redefined Act 2022, the primary function of SBP is:
The 2022 SBP Act designates price stability as the primary function of the State Bank of Pakistan.
15 / 20
Pakistan sought “International Monetary Fund’s Financial Assistance” ________ times in 75 years.
Pakistan has approached the IMF for financial assistance 23 times in 75 years.
16 / 20
Economic recession is defined as reduced economic activities and employment levels for at least:
An economic recession is defined as a decline in economic activity over two consecutive quarters.
17 / 20
GNP measures:
GNP includes both the total production and income generated by a nation’s residents, including those abroad.
18 / 20
GDP measures “all goods and services __________ produced in a given year”.
GDP measures all goods and services produced within a country's borders in a given year.
19 / 20
In Pakistan, investment as percentage of GDP is lower than:
Pakistan's investment-to-GDP ratio is lower than that of India, China, and Bangladesh, affecting economic growth.
20 / 20
Gini coefficient is the measure of:
The Gini coefficient measures income inequality within a population, with values ranging from 0 (perfect equality) to 1 (maximum inequality).
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