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Solved MCQs of Basic Economics Papers

Basic Economics Mcqs Paper

(i) The best measure of economic development is:
(a) GNP
(b) HDI
(c) PQLI
(d) None of these(ii) Due to land reforms of 1972 the number of farmers benefited were around:
(a) 50,300
(b) 71,500
(c) 81,201
(d) 40,301

(iii) The best measure of economic development, among the following is:
(a) Life expectancy
(b) Industrial development
(c) Agricultural and industrial development
(d) Development of services sector

(iv) As per 1990 census, the number of tenants in Pakistan were around:
(a) 16%
(b) 20%
(c) 25%
(d) 13%
(e) None of these

(v) Area irrigated by different sources in Pakistan is around ___________ Million hectares:
(a) 17
(b) 20
(c) 15
(d) 18

(vi) Which era (decade) in Pakistan is called “the decade lose”:
(a) 1960’s
(b) 1970’s
(c) 1980’s
(d) 1990’s
(e) 2000’s

(vii) The urban employment in the informal industry is:
(a) 72%
(b) 50%
(c) 30%
(d) 79%
(e) 60.5%

(viii) The effective tariff rate in Pakistan (Foreign Sector) is:
(a) Below 10%
(b) Around 15%
(c) Around 20%
(d) Around 23%

(ix) The major objective of Monetary Authorities is:
(a) To control inflation and help the government
(b) Stability of the economy
(c) To reduce unemployment and print money
(d) To control interest rate and promote investment
(e) None of these

(x) Out of total reveue of Pakistan, the following percentage is spent on defence and debt services:
(a) 50%
(b) 30%
(c) 90%
(d) 80%
(e) 70%

(xi) Under WTO, Pakistan has bounded tariff for agriculture around:
(a) 100%
(b) 50%
(c) 150%
(d) None of these

(xii) The best technique to measure competitiveness of trade is:
(a) Absolute advantage
(b) Comparative advantage
(c) Revealed comparative advantage
(d) Openness of the foreign sector

(xiii) The agricultural share in GDP is around:
(a) 22%
(b) 20%
(c) 15%
(d) 10%

(xiv) Structural adjustment program in Pakistan led to:
(a) Increase poverty
(b) Reduce poverty
(c) Improve the economy
(d) No significant impact

(xv) The IMF loans are:
(a) For short term
(b) For long term
(c) Both (a) and (b)
(d) None of these

(xvi) Indirect taxes are around _____________ of the revenue.
(a) 70%
(b) 80%
(c) 85%
(d) None of these

(xvii) In the last ten years, foreign debt servicing of Pakistan has:
(a) Increased
(b) Decreased
(c) Remained the same

(xviii) With the introduction of reforms in the foreign sector Pakistan’s competitiveness has:
(a) Improved
(b) Deteriorated
(c) Improved and deteriorated
(d) Deteriorated and improved

(xix) The industrial share in the GDP is around:
(a) 20%
(b) 18%
(c) 22%
(d) 15%

(xx) Produce Index Unit is:
(a) Per acre total production in a year
(b) Per acre production of one crop in one acre
(c) Aggregate average production per acre
(d) None of these

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