Economy of Pakistan Multiple Choice Questions (MCQs) Page-1. The following quizzes are from economy of Pakistan including fiscal and monetary policies of Pakistan. Find answers to the questions at the bottom of the page.
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1. The major government policies that can be used to pursue its macroeconomic goals are (A) fiscal policy and debt policy (B) fiscal policy and monetary policy (C) fiscal policy, debt policy and monetary policy (D) fiscal policy, monetary policy and subsidies
2. The government’s fiscal policy denotes the use of government’s
(A) taxes and expenditure (B) consumption and investment (C) taxes and revenue (D) consumption and expenditure
3. Three main drivers of economic growth are
(A) consumption, investment and employment (B) savings, investment and debt (C) revenue, expenditure and savings (D) consumption, investment and savings
4. Pakistani society like other developing countries has
(A) low marginal propensity to consume (B) high marginal propensity to consume (C) high marginal propensity to invest (D) high employment
5. The total area of Pakistan is __________ km².
(A) 696,095 (B) 796,095 (C) 896,095 (D) 996,095
6. In terms of population, Pakistan is __________ largest country in the world.
(A) fourth (B) fifth (C) sixth (D) seventh 7. The total labour force in Pakistan is __________ million. (A) 61.14 (B) 63.14 (C) 65.14 (D) 67.14
8. The total GDP of Pakistan in nominal terms is about __________ billion.
(A) $304 (B) $314 (C) $324 (D) $334
9. The GDP growth rate in the financial year 2016-17 was
(A) 4.48% (B) 4.88% (C) 5.28% (D) 5.68%
10. The GDP growth target for the financial year 2017-18 is (A) 5.5% (B) 6.0% (C) 6.5% (D) 7.0%
11. The three main sectors of Pakistan economy are
(A) agriculture, industry and manufacturing (B) agriculture, industry and transport (C) agriculture, education and industry (D) agriculture, industry and services
12. What sector provides the largest employment in Pakistan?
(A) agriculture (B) industry (C) services (D) manufacturing
13. Which sector is the major source of tax revenues for the government? (A) agriculture (B) industry (C) services (D) manufacturing 14. What sector is the largest contributor to the GDP? (A) agriculture (B) industry (C) services (D) manufacturing
15. The per capita income in Pakistan is about
(A) $1520.7 (B) $1540.7 (C) $1560.7 (D) $1580.7
16. The current inflation rate in Pakistan is about
(A) 2.86% (B) 3.36% (C) 3.86% (D) 4.26%
17. The current unemployment rate in Pakistan is about
(A) 3.9% (B) 4.9% (C) 5.9% (D) 6.9%
18. As of June 2016 the total government debt were stood at
19. The most important sub-sector of the industrial sector is
(A) construction (B) transport (C) real estate (D) manufacturing
20. The share of manufacturing sub-sector in the overall industrial sector is
(A) 52.71% (B) 58.71% (C) 64.71% (D) 70.71%
ANSWERS: PAKISTAN ECONOMY MCQS
11(D) 12(A) 13(B) 14(C) 15(C) 16(A) 17(C) 18(B) 19(D) 20(C) 21. The agriculture sector contributes __________ to the country’s GDP. (A) 19.82% (B) 21.02% (C) 37.09% (D) 59.16%
22. The industry sector contributes __________ to the country’s GDP.
(A) 19.82% (B) 21.02% (C) 37.09% (D) 59.16%
23. The services sector contributes __________ to the country’s GDP.
(A) 19.82% (B) 21.02% (C) 37.09% (D) 59.16%
24. The three Stock Exchanges Karachi, Lahore and Islamabad were merged into Pakistan Stock Exchange (PSX) on (A) January 11, 2015 (B) February 13, 2015 (C) January 11, 2016 (D) February 13, 2016
25. Foreign exchange reserves of Pakistan reached the new historic high of __________ on October 14, 2016. (A) $24.5 billion (B) $28.5 billion (C) $32.5 billion (D) $36.5 billion
26. Currently, about how many beneficiaries (families) are receiving financial help under Benazir Income Support Program (BISP) of the government of Pakistan. (A) 4.0 million (B) 4.6 million (C) 5.0 million (D) 5.6 million
27. Currently, about 5.6 million beneficiaries are receiving financial help of __________ per annum under BISP of the government of Pakistan. (A) Rs.15,338 (B) Rs.17,338 (C) Rs.19,338 (D) Rs.21,338 28. Prime Minister of Pakistan on September 15, 2015 announced a mega relief package of __________ for small farmers. (A) Rs.281 billion (B) Rs.301 billion (C) Rs.321 billion (D) Rs.341 billion
29. The agriculture relief package includes
(A) direct cash support (B) subsidies (C) soft agriculture loans (D) all of the above
31. The public consumption expenditures, in nominal terms, were __________ of the GDP during the financial year 2015-16. (A) 10.0% (B) 11.8% (C) 13.6% (D) 15.4%
32. The public investment in nominal terms during financial year 2015-16 was __________ of GDP. (A) 3.82% (B) 5.82% (C) 7.82% (D) 9.82%
33. The public investment growth rate during the financial year 2015-16 was recorded as (A) 8.63% (B) 9.63% (C) 10.63% (D) 11.63%
34. The total national savings during the financial year 2015-16 were __________ of GDP. (A) 12.6% (B) 14.6% (C) 16.6% (D) 18.6%
35. The total domestic savings during the financial year 2015-16 were __________ of GDP. (A) 4.3% (B) 6.3% (C) 8.3% (D) 10.3%
36. Under the Prime Minister Agriculture package, the installation of production unit of Halal meat that will be registered before December 31, 2016 will be given a __________ exemption on income tax. (A) two year (B) three year (C) four year (D) five year
37. Under the agriculture package, the government would bear the __________ premium on the agricultural insurance. (A) Rs.2.5 billion (B) Rs.3.0 billion (C) Rs.3.5 billion (D) Rs.4.0 billion
38. The current policy rate in Pakistan is
(A) 5.50% (B) 5.75% (C) 6.00% (D) 5.25%
39. The current budget deficit (or fiscal deficit) is
(A) 4.3% (B) 5.3% (C) 6.3% (D) 7.3%
40. The target to reduce fiscal deficit for 2016-17 is
(A) 1.3% (B) 2.3% (C) 3.3% (D) 4.3%
ANSWERS: ECONOMY OF PAKISTAN QUIZZES
31(B) 32(A) 33(C) 34(B) 35(C) 36(C) 37(A) 38(B) 39(B) 40(D) 41. The agriculture provides employment of about __________ of the country’s total labour force. (A) 35.7% (B) 42.3% (C) 49.9% (D) 56.3%
42. The custom duty, sales tax and withholding tax on the agriculture machinery have been reduced from 45% to (A) 15% (B) 13% (C) 11% (D) 9%
43. The sales tax on cold chain machinery has been reduced from 17% to (A) 11% (B) 9% (C) 7% (D) 5%
44. Under the PM agriculture package the traders of agriculture commodities, fruits, vegetables and fish would get an exemption of __________ years on income tax. (A) 2 (B) 3 (C) 4 (D) 5
45. Under the PM agriculture package the government would provide Rs.30 billion as the __________ guarantee to banks on loans. (A) 40% (B) 45% (C) 50% (D) 55%
46. The growth rate in the agriculture sector during the financial year 2015-16 was (A) −0.19% (B) 3.71% (C) 5.71% (D) 6.80%
47. The growth rate in the industry sector during the financial year 2015-16 was (A) −0.19% (B) 3.71% (C) 5.71% (D) 6.80% 48. The growth rate in the services sector during the financial year 2015-16 was (A) −0.19% (B) 3.71% (C) 5.71% (D) 6.80%
