SPSC Lecturer Economics Past Paper 2024

The Phillips curve illustrates the relationship between?

1. Inflation and unemployment
2. Inflation and GDP growth
3. Government spending and GDP growth
4. Interest rates and investment

All the following are parts of the business cycle except?

1. Boom
2. Slump
3. Recovery
4. Acceleration

Islamabad isn’t______Lahore.

1. As cheaper than
2. So cheaper than
3. So cheap that
4. As cheap as

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?

1. Will decrease by 2.5 units
2. Will Increase by 2.5 units
3. Will decrease by 25%
4. Will decrease by 2.5%
5. None of these

Which of the following oligopoly models are concerned with the maximization of joint profit?

1. Collusive model
2. Bertrand model
3. Cournot model
4. Edgeworth model
5. Kinky demand curve model

Does total revenue equal?

1. Price times quantity
2. Marginal revenue times marginal cost
3. Profit per unit of output
4. Total cost minus profit

According to classical economic theory, a decrease in the money supply would?

1. Raise the price level and output in the economy
2. Lower the price level and output in the economy
3. Lower the price level in the economy
4. Raise the price level and lower output in the economy

The biggest challenge to Pakistan’s economy in 2022-23 was?

1. Low literacy rate
2. Rising inflation
3. Low employment
4. Current account deficit