(A) 1919 – 1920
(B) 1922 – 1923
(C) 1926 – 1927
(D) None of these
Answer: (B) 1922 – 1923
In Germany the hyper inflation occurred between 1922 – 1923 after the world war 1.
Category: PPSC Economics Lecturer Test Past Papers
PPSC Economics Lecturer (BS-17) Test Past Papers Solved MCQs Questions with Answers.
The concept of elasticity of demand was introduced by:
(A) Louis Paul
(B) Jan Tinbergen
(C) Alfred Marshall
(D) None of these
Answer: (C) Alfred Marshall
Alfred Marshall invented elasticity of demand in principles of economics published in 1890.
The founder of Econometrics is:
(A) Jan Tinbergen
(B) Louis Paul
(C) Alfred Marshall
(D) None of these
Answer: (A) Jan Tinbergen
Econometrics is a branch of Economics. Jan Tinbergen is the founding father of Econometrics.
Which one is the largest source of federal revenue?
(A) Sales Tax
(B) Excise Duty Tax
(C) Income Tax
(D) None of these
Answer: (C) Income Tax
The largest source of federal revenue is Income Tax.
Which effect slopes the demand curve downward?
(A) Environment Effect
(B) Income Effect
(C) Substitute Effect
(D) Price Effect
Answer: (D) Price Effect
Demand curve shows how an individual reacts to change in price. Demand curve can be derived by adding sum of all individual consumer’s demand.