R4RIN – MCQs, Mock Tests | Economics Economic Development and Planning

Pakistan started its first five-year plan in:

1. 1947
2. 1950
3. 1955
4. 1960

✅ Correct Answer: 3

Contribution of agriculture in Pakistan s national income is:

1. 21%
2. 31%
3. 41%
4. 51%

✅ Correct Answer: 1

Most of our exports consist of:

1. Cotton products
2. Machinery
3. Sports goods
4. Both (a) and (b)

✅ Correct Answer: 1

Pakistan is an economy:

1. Developing
2. Developed
3. Fast growing economy
4. (a) and (c) of above

✅ Correct Answer: 1

Contribution of industrial sector in Pakistan economy is:

1. 29%
2. 19%
3. 9%
4. undetermined

✅ Correct Answer: 2

The largest sector of Pakistan economy is:

1. Transport
2. Agriculture
3. Industry
4. Trade

✅ Correct Answer: 2

Size of Pakistan s 8th plan was in rupees:

1. 700 billion
2. 1700 billion
3. 2700 billion
4. 3700 billion

✅ Correct Answer: 2

Pakistan produces of its oil requirements:

1. 20%
2. 30%
3. 40%
4. 50%

✅ Correct Answer: 1

Investment rate in Pakistan is around:

1. 8%
2. 18%
3. 28%
4. 38%

✅ Correct Answer: 2

Which of the following is NOT a characteristic of underdeveloped countries:

1. Low per capita income
2. Low growth rate of GDP
3. Low educational levels
4. Low population growth rate

✅ Correct Answer: 4

Pakistan income is low because:

1. Fast growing population
2. Lack of natural resources
3. Low saving rate
4. (a) and (c) of above

✅ Correct Answer: 1

The most important factor in economic development is:

1. Quality of human resources
2. Quality of natural resources
3. Quality of governance
4. Quality of banking system

✅ Correct Answer: 1

Which is likely to be higher in a developing country like Pakistan:

1. Birth rate
2. GDP per head
3. Life expectancy
4. Net investment per head

✅ Correct Answer: 1

Economic development:

1. Is the same as economic growth
2. Means improvement in lifestyle
3. Exists when there is equal distribution of income
4. All of the above

✅ Correct Answer: 2

Economic development is measured on the basis of:

1. Increase in nominal GNP
2. Increase in real GNP
3. Increase in personal incomes
4. Increase in government revenue

✅ Correct Answer: 2

Select the combination which is most likely to be found in developing countries:

1. Low birth rate and high gross domestic product
2. Low death rate and high gross domestic product
3. High birth rate and low GDP per head
4. Low infant mortality rate and high gross domestic product

✅ Correct Answer: 3

Rate of economic development in Pakistan will increase if

1. Saving rate increases
2. Money supply increases
3. Imports increase
4. All of the above

✅ Correct Answer: 1

Rate of economic development will fall if:

1. Exports increase
2. Government enterprises are privatized
3. Smaller % of national income is invested
4. Banks increase loans

✅ Correct Answer: 3

It is a measure of economic development:

1. Increase in national and per capita income
2. Increase in working population
3. Increase in exports and imports
4. (a) and (c) of above

✅ Correct Answer: 1

It is not a factor of economic development:

1. Money
2. Land
3. Capital
4. Technology

✅ Correct Answer: 1

Measurement of economic development is based on:

1. Monetary income
2. Real income
3. Future income
4. Permanent income

✅ Correct Answer: 2

Pakistan needs:

1. Economic planning
2. Population planning
3. Educational planning
4. All of the above

✅ Correct Answer: 4

The highest govt. body for economic planning in Pakistan is:

1. Planning Council
2. Planning Board
3. Planning Commission
4. Planning Department

✅ Correct Answer: 3

When a country develops:

1. Per capita income rises
2. Specialization increase
3. Urbanization rises
4. All of the above

✅ Correct Answer: 4

Economic planning in Pakistan started:

1. During 1950 s
2. During 1960 s
3. During 1970 s
4. During 1980 s

✅ Correct Answer: 1

We can increase rate of economic growth in Pakistan if we increase:

1. Taxes
2. Imports
3. Investment
4. Population

✅ Correct Answer: 3

When economic development takes place:

1. Market imperfections increase
2. Population increases
3. Capital stock increases
4. (b) and (c) of the above

✅ Correct Answer: 4

When economic development takes place:

1. Exports increase
2. Imports increase
3. Capital stock increases
4. All of the above

✅ Correct Answer: 4

When economic development takes place:

1. Share of services in GDP increases
2. Share of agriculture in GDP increases
3. Share of industry in GDP increases
4. (a) and (c) of above

✅ Correct Answer: 4

When economic development takes place:

1. Specialization increases
2. Commercialization decreases
3. Market imperfections increase
4. None of the above

✅ Correct Answer: 1

It is acting as obstacle to economic development of Pakistan:

1. Lack of capital
2. Urbanisation
3. Specialization
4. Shortage of labour

✅ Correct Answer: 1

It is acting as obstacle to economic:

1. Shortage of money
2. Urbanisation
3. Poliitical instability
4. Shortage of labour

✅ Correct Answer: 3

It is acting as obstacle to economic development of Pakistan:

1. Lack of capital
2. Fast population growth
3. Market imperfections
4. All of the above

✅ Correct Answer: 4

Medium-term plan covers:

1. Less than 2 years
2. 3 to 5 years
3. 5 to 10 years
4. 10 to 15 years

✅ Correct Answer: 2

Economic planning does not need:

1. Change of government
2. Determination of objection
3. Estimation of resources
4. Fixation of plan period

✅ Correct Answer: 1

There are obstacles to rapid economic development of Pakistan:

1. Social
2. Political
3. Cultural
4. All of the above

✅ Correct Answer: 4

It is a good measure of economic development:

1. Rate of population growth
2. Rate of increase in exports and imports
3. Rate of increase in money incomes
4. Rate of change in real incomes

✅ Correct Answer: 4

We cannot find per capita income of the country unless we know:

1. Total money supply
2. Total GNP
3. Total budget of the country
4. Total exports

✅ Correct Answer: 2

It is a characteristic of developing economy:

1. High productivity of capital
2. High productivity of labour
3. High surplus in in balance of payments
4. None of the above

✅ Correct Answer: 4

Pakistan started its planning experience with:

1. London Plan
2. Karachi Paln
3. Colombo Plan
4. Tokyo Plan

✅ Correct Answer: 3

Pakistan is underdeveloped because of:

1. Lack of minerals, poor technology
2. Limited area and high mobility of labour
3. Lack of education and political government
4. Poor governance and corruption

✅ Correct Answer: 4

In Pakistan poverty is measured by:

1. Per capita income, calorie intake
2. Percentage of rural population
3. Difference of incomes in rural and urban areas
4. Difference between GDP and GNP

✅ Correct Answer: 1

Pakistan faces shortage of energy because:

1. Our population is large
2. Pakistan lacks resources to produce energy
3. Lack of proper planning
4. None of the above

✅ Correct Answer: 3

When an economy produces more output per capital the economy is said to be having:

1. Inflation
2. Economic growth
3. Economic planning
4. Living standard

✅ Correct Answer: 2

In a developing country:

1. Birth rate is high
2. Death rate is high
3. Infant mortality rate is high
4. All of the above are true

✅ Correct Answer: 4

Economic planning in Pakistan is conducted by:

1. Pakistan Planning Council
2. Pakistan Planning Board
3. Pakistan Planning
4. Commission

✅ Correct Answer: 3