Economics MCQ Quiz Hub

1. Pakistan started its first five-year plan in:
1947
1950
1955
1960

2. Contribution of agriculture in Pakistan s national income is:
21%
31%
41%
51%

3. Most of our exports consist of:
Cotton products
Machinery
Sports goods
Both (a) and (b)

4. Pakistan is an economy:
Developing
Developed
Fast growing economy
(a) and (c) of above

5. Contribution of industrial sector in Pakistan economy is:
29%
19%
9%
undetermined

6. The largest sector of Pakistan economy is:
Transport
Agriculture
Industry
Trade

7. Size of Pakistan s 8th plan was in rupees:
700 billion
1700 billion
2700 billion
3700 billion

8. Pakistan produces of its oil requirements:
20%
30%
40%
50%

9. Investment rate in Pakistan is around:
8%
18%
28%
38%

10. Which of the following is NOT a characteristic of underdeveloped countries:
Low per capita income
Low growth rate of GDP
Low educational levels
Low population growth rate

11. Pakistan income is low because:
Fast growing population
Lack of natural resources
Low saving rate
(a) and (c) of above

12. The most important factor in economic development is:
Quality of human resources
Quality of natural resources
Quality of governance
Quality of banking system

13. Which is likely to be higher in a developing country like Pakistan:
Birth rate
GDP per head
Life expectancy
Net investment per head

14. Economic development:
Is the same as economic growth
Means improvement in lifestyle
Exists when there is equal distribution of income
All of the above

15. Economic development is measured on the basis of:
Increase in nominal GNP
Increase in real GNP
Increase in personal incomes
Increase in government revenue

16. Select the combination which is most likely to be found in developing countries:
Low birth rate and high gross domestic product
Low death rate and high gross domestic product
High birth rate and low GDP per head
Low infant mortality rate and high gross domestic product

17. Rate of economic development in Pakistan will increase if
Saving rate increases
Money supply increases
Imports increase
All of the above

18. Rate of economic development will fall if:
Exports increase
Government enterprises are privatized
Smaller % of national income is invested
Banks increase loans

19. It is a measure of economic development:
Increase in national and per capita income
Increase in working population
Increase in exports and imports
(a) and (c) of above

20. It is not a factor of economic development:
Money
Land
Capital
Technology

21. Measurement of economic development is based on:
Monetary income
Real income
Future income
Permanent income

22. Pakistan needs:
Economic planning
Population planning
Educational planning
All of the above

23. The highest govt. body for economic planning in Pakistan is:
Planning Council
Planning Board
Planning Commission
Planning Department

24. When a country develops:
Per capita income rises
Specialization increase
Urbanization rises
All of the above

25. Economic planning in Pakistan started:
During 1950 s
During 1960 s
During 1970 s
During 1980 s

26. We can increase rate of economic growth in Pakistan if we increase:
Taxes
Imports
Investment
Population

27. When economic development takes place:
Market imperfections increase
Population increases
Capital stock increases
(b) and (c) of the above

28. When economic development takes place:
Exports increase
Imports increase
Capital stock increases
All of the above

29. When economic development takes place:
Share of services in GDP increases
Share of agriculture in GDP increases
Share of industry in GDP increases
(a) and (c) of above

30. When economic development takes place:
Specialization increases
Commercialization decreases
Market imperfections increase
None of the above

31. It is acting as obstacle to economic development of Pakistan:
Lack of capital
Urbanisation
Specialization
Shortage of labour

32. It is acting as obstacle to economic:
Shortage of money
Urbanisation
Poliitical instability
Shortage of labour

33. It is acting as obstacle to economic development of Pakistan:
Lack of capital
Fast population growth
Market imperfections
All of the above

34. Medium-term plan covers:
Less than 2 years
3 to 5 years
5 to 10 years
10 to 15 years

35. Economic planning does not need:
Change of government
Determination of objection
Estimation of resources
Fixation of plan period

36. There are obstacles to rapid economic development of Pakistan:
Social
Political
Cultural
All of the above

37. It is a good measure of economic development:
Rate of population growth
Rate of increase in exports and imports
Rate of increase in money incomes
Rate of change in real incomes

38. We cannot find per capita income of the country unless we know:
Total money supply
Total GNP
Total budget of the country
Total exports

39. It is a characteristic of developing economy:
High productivity of capital
High productivity of labour
High surplus in in balance of payments
None of the above

40. Pakistan started its planning experience with:
London Plan
Karachi Paln
Colombo Plan
Tokyo Plan

41. Pakistan is underdeveloped because of:
Lack of minerals, poor technology
Limited area and high mobility of labour
Lack of education and political government
Poor governance and corruption

42. In Pakistan poverty is measured by:
Per capita income, calorie intake
Percentage of rural population
Difference of incomes in rural and urban areas
Difference between GDP and GNP

43. Pakistan faces shortage of energy because:
Our population is large
Pakistan lacks resources to produce energy
Lack of proper planning
None of the above

44. When an economy produces more output per capital the economy is said to be having:
Inflation
Economic growth
Economic planning
Living standard

45. In a developing country:
Birth rate is high
Death rate is high
Infant mortality rate is high
All of the above are true

46. Economic planning in Pakistan is conducted by:
Pakistan Planning Council
Pakistan Planning Board
Pakistan Planning
Commission