SPSC - Lecturer Economics 2024 Past Paper with Answers

Practice the SPSC - Lecturer Economics 2024 past paper with 49 solved MCQs, answers and topic coverage.

49 solved MCQs across 1 approved paper

If demand function for good X is given by X^D = 1500-1.3P,-1.8P + 2M then we know that?Answer: Goods X and Y are complements to each other A company has a cost function C(Q) = 2 Q^2 + 10Q + 50. What is the marginal cost of producing the 5the one of output?Answer: $30 Frictional unemployment often occurs when?Answer: People first enter the labour force The aggregate demand curve slopes downward because of the?Answer: All of these The biggest challenge Pakistan's economy in 2022-23 was?Answer: Rising inflation According to classical economic theory, a decrease in the money supply would?Answer: Lower the price level in the economy Total revenue equals?Answer: Price times quantity Which of the following oligopoly model are concerned with the maximization of joint profit?Answer: Collusive model Given own price elasticity equal to -2.5 implies that if the price of the good increase by Rs.10 then the quantity demanded of the good?Answer: None of these When both the demand and the supply curves shift to the right due to any reason then?Answer: Quantity traded increases for sure but nothing could be said about prices Islamabad isn't______Lahore.Answer: As cheap as The GDP (Gross Domestic Product) of a country is $100 billion. If government spending is $20 billion, Investment is $ 10 billion and net exports are -$5 billion, what is consumption spending?Answer: $75 billion All of the following are parts of the business cycle except?Answer: Acceleration The Phillips curve Illustrates the relationship between?Answer: Inflation and unemployment Which sector typically contributes the largest share to Pakistan GDP (Gross Domestic Product)?Answer: Services What is the primary objective of a central bank's monetary policy?Answer: Achieving price stability and controlling inflation The market structure of monopoly is characterized by?Answer: A single firm producing a good that lacks close substitutes A profit maximizing firm under perfect competition will produce?Answer: Always in the range where MP is diminishing Which of the following is a tool of fiscal policy?Answer: Government spending