Sumera Nawaz
Struggling Economist
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Master
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ECONOMICS
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Pakistan
Gender
Female
Sumera Nawaz
Aoa. Everyone here.. I hope we will make a great career from this platform. InshaAllah
Sumera Nawaz
about
Instructor/Lecturer Commerce PPSC
Aoa. Everyone here.. I hope we will make a great career from this platform. InshaAllah
Sumera Nawaz
ECONOMICS
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Managerial Economics
Which factor can lead to economies of scale in production?
A. Increased regulatory compliance costs.
B. Higher input prices due to limited suppliers.
C. Bulk purchasing of raw materials at a discounted rate.
D. Decreased managerial efficiency.
Sumera Nawaz
ECONOMICS
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Managerial Economics
How to determine the profit-maximizing output level for a monopolist?
A. By setting price equal to marginal cost.
B. By equating marginal cost to average total cost.
C. By equating marginal revenue to marginal cost.
D. By setting price equal to average total cost.
Sumera Nawaz
ECONOMICS
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Managerial Economics
Where is the optimal point of production for a firm operating under perfect competition in the long run?
A. Where marginal cost equals marginal revenue.
B. Where average total cost is minimized.
C. Where marginal cost equals average total cost.
D. Where marginal cost equals average total cost.
Sumera Nawaz
ECONOMICS
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Managerial Economics
When should a firm continue producing in the short run even if it is incurring losses?
A. When fixed costs are greater than variable costs.
B. When total revenue covers variable costs but not fixed costs.
C. When total costs exceed total revenue.
D. When the market price is below average total cost.
Sumera Nawaz
ECONOMICS
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Managerial Economics
What is the main reason for a firm to engage in price discrimination?
A. To increase production efficiency.
B. To maximize revenue by capturing consumer surplus.
C. To reduce advertising costs.
D. To comply with government regulations.
Sumera Nawaz
ECONOMICS
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Econometrics
How to address heteroskedasticity in a regression model?
A. By increasing the sample size.
B. By using OLS estimators.
C. By transforming the dependent variable.
D. By applying robust standard errors.
Sumera Nawaz
ECONOMICS
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Econometrics
Why is multicollinearity a problem in multiple regression analysis?
A. It increases the model's goodness-of-fit.
B. It leads to biased estimates of the regression coefficients.
C. It causes the standard errors of the coefficients to be inflated.
D. It violates the normality assumption of the error terms.
Sumera Nawaz
ECONOMICS
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Econometrics
Which test is commonly used to detect autocorrelation in the residuals of a regression model?
A. Durbin-Watson test.
B. Breusch-Pagan test.
C. Hausman test.
D. Augmented Dickey-Fuller test.
Sumera Nawaz
ECONOMICS
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Econometrics
When is the use of a fixed-effects model preferable to a random-effects model in panel data analysis?
A. When the number of cross-sectional units is larger than the number of time periods.
B. When the individual effects are correlated with the explanatory variables.
C. When there is no heterogeneity across cross-sectional units.
D. When the data set is balanced.
Sumera Nawaz
ECONOMICS
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Econometrics
What is the primary purpose of using Instrumental Variables (IV) in econometrics?
A. To increase the sample size.
B. To correct for heteroskedasticity.
C. To address endogeneity problems.
D. To estimate time series models.
Sumera Nawaz
ECONOMICS
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Macroeconomics
If a country's Gross Domestic Product (GDP) is $800 billion and its Gross National Product (GNP) is $750 billion, what is the value of net factor income from abroad (NFIA)?
A. $50 billion.
B. -$50 billion.
C. $0 billion.
D. Insufficient information to determine.
Sumera Nawaz
ECONOMICS
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Macroeconomics
In the circular flow of income, which sector consists of households?
A. Government sector.
B. Business sector.
C. Financial sector.
D. Household sector.
Sumera Nawaz
ECONOMICS
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Macroeconomics
Which of the following is NOT a limitation of Gross Domestic Product (GDP) as a measure of economic welfare?
A. It does not adjust for inflation.
B. It does not include the underground economy.
C. It does not consider non-market activities.
D. It does not account for the distribution of income.
Sumera Nawaz
ECONOMICS
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Macroeconomics
Which of the following is an example of a transfer payment?
A. Corporate profits.
B. Social security benefits.
C. Investment in new machinery.
D. Purchase of stocks and bonds.
Sumera Nawaz
ECONOMICS
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Macroeconomics
If a country's Gross Domestic Product (GDP) is $500 billion and its population is 100 million, what is the country's GDP per capita?
A. $50,000.
B. $5,000.
C. $5 million.
D. $500.
Sumera Nawaz
ECONOMICS
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Macroeconomics
Which of the following is NOT a component of the expenditure approach to calculating Gross Domestic Product (GDP)?
A. Consumption.
B. Investment.
C. Net exports.
D. All of the above are components of the expenditure approach.
Sumera Nawaz
ECONOMICS
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Macroeconomics
Which of the following transactions would be included in the calculation of Gross Domestic Product (GDP)?
A. A household purchases a used car from another household.
B. A company produces a new software program for internal use.
C. A government purchases military equipment from a foreign country.
D. A household pays tuition fees for their child's education at a private school.
Sumera Nawaz
ECONOMICS
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Macroeconomics
If Gross Domestic Product (GDP) is $10 trillion and Gross National Product (GNP) is $11 trillion, what is the value of net factor income from abroad (NFIA)?
A. $1 trillion.
B. -$1 trillion.
C. Insufficient information to determine.
D. $0 trillion.
Sumera Nawaz
ECONOMICS
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Macroeconomics
Which of the following measures is used to adjust Gross Domestic Product (GDP) for inflation?
A. Real GDP.
B. Nominal GDP.
C. Gross National Product (GNP).
D. Net Domestic Product (NDP).
Sumera Nawaz
ECONOMICS
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Macroeconomics
Which of the following is NOT included in the calculation of Gross Domestic Product (GDP)?
A. Value of intermediate goods used in production.
B. Transfer payments such as social security benefits.
C. Corporate profits earned by multinational companies headquartered in the country.
D. Government spending on public infrastructure.
Sumera Nawaz
ECONOMICS
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Microeconomics
If the price elasticity of demand for a good is less than 1, the demand is considered
A. Elastic.
B. Unitary elastic.
C. Inelastic.
D. Perfectly elastic.
Sumera Nawaz
ECONOMICS
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Microeconomics
Which of the following would lead to a rightward shift of the supply curve?
A. Improvement in technology.
B. Increase in production costs.
C. Increase in the price of a complementary good.
D. Increase in the number of suppliers.
Sumera Nawaz
ECONOMICS
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Microeconomics
Which of the following is an example of a substitute good?
A. Peanut butter and jelly.
B. Tea and coffee.
C. Butter and margarine.
D. Butter and bread.
Sumera Nawaz
ECONOMICS
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Microeconomics
If both supply and demand increase but the increase in supply is larger, what will happen to equilibrium price and quantity?
A. Price and quantity will both increase.
B. Price and quantity will both decrease.
C. Price will decrease and quantity will increase.
D. Price will increase and quantity will decrease.
Sumera Nawaz
ECONOMICS
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Microeconomics
When is the price elasticity of supply perfectly inelastic?
A. When the percentage change in quantity supplied is zero for any change in price.
B. When the quantity supplied is infinitely responsive to changes in price.
C. When the quantity supplied does not change at all in response to a change in price.
D. When the price remains constant regardless of changes in quantity supplied.
Sumera Nawaz
ECONOMICS
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Microeconomics
If demand is perfectly elastic, what is the value of price elasticity of demand?
A. -1.
B. Infinity.
C. 0.
D. 1.
Sumera Nawaz
ECONOMICS
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Microeconomics
Which of the following events would lead to a decrease in the equilibrium price of oranges?
A. A decrease in consumer income.
B. An increase in the price of apples (a substitute for oranges).
C. A decrease in the number of orange producers.
D. A decrease in the price of orange juice (a complement to oranges).
Sumera Nawaz
ECONOMICS
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Microeconomics
Which of the following statements about elasticity of demand is true?
A. Unitary elastic demand indicates that quantity demanded does not change with a change in price.
B. Elastic demand curves are usually steeper than inelastic demand curves.
C. Inelastic demand means consumers are very sensitive to price changes.
D. Elasticity measures the responsiveness of quantity demanded to a change in price.
Sumera Nawaz
ECONOMICS
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Microeconomics
If the demand for a product increases while its supply remains constant, what will happen to the equilibrium price and quantity?
A. Price will decrease and quantity will increase.
B. Price will increase and quantity will decrease.
C. Price and quantity will both increase.
D. Price and quantity will both decrease.
Sumera Nawaz
ECONOMICS
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Microeconomics
Which of the following factors does NOT influence the demand for a good?
A. Price of related goods.
B. Income of consumers.
C. Future expectations.
D. Cost of production.
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