Economics MCQS

421. Who said “Capitalism contains seeds of its own destruction”?
A: Adam Smith
B: Karl Marx
C: Ricardo
D: Samuelson

422. Demerits of mixed economy can be seen in:
A: Inefficiency
B: Corruption
C: Fear of nationalism
D: All of the above

423. Demerit of socialism lies in:
A: Concentration of power in government hand
B: Bureaucratic set up
C: Wrong calculation of cost
D: All of the above

424. Revealed preference theory was presented by?
A: Adam Smith
B: Samuelson
C: Marshall
D: Ricardo

425. J.R Hicks was?
A: Keynesian economist
B: Classical economist
C: Neo-classical economist
D: None of the above

426. Pakistan has officially been removed from the FATF ‘grey list’ on:
A: 21st August 2021
B: 21st September 2021
C: 21st August 2022
D: 21st October 2022

427. KIBOR is the abbreviation of:
A: Karachi Interbank Offered Rate
B: Khyber Interbank Offered Rate
C: Karachi International Organisation Rate
D: None of these

428. Current Governor of the State Bank of Pakistan is:
A: Jameel Ahmed
B: Tariq Bajwa
C: Asad Omer
D: Ishrat Husain

429. Current SBP Overnight Reverse Repo (Ceiling) Rate is __ per annum:
A: 12 %
B: 14 %
C: 16 %
D: 18 %

430. Services sector contributed around __ in the country’s GDP 2021:
A: 25 %
B: 38 %
C: 49 %
D: 58 %