PPSC Economics Topic 1 MCQS Test Preparation

PPSC Economics test is comprised of questions related to the economics subject and general knowledge questions. The PPSC test is, somehow, tough but candidates who prepare properly can easily cover the test. The test is comprised of 100 MCQs and candidates are required to get the maximum of marks to beat the set criteria and competition. In order to get excellent preparation in chapter I of the Economics subjects the team of Ilmkidunya has arranged PPSC online tests. On this page, the candidates can find the online test of chapter I. However, for other chapters’ tests, you will find separate sections and pages. The online test is comprised of 20 MCQs and candidates are offered 20 minutes to cover the test. In this way, candidates get the practice that how to cover the test within the given timeframe.

MCQ's Test For PPSC Economics Topic 1 Basic Economics

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PPSC Economics Topic 1 Basic Economics

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Question # 1

Lower interest rates are likely to.

Question # 2

A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.

Question # 3

Increased levels of spending on imports

Question # 4

To reduce cyclical unemployment the government might.

Question # 5

If the "Regulated -market" price is below the equilibrium price.

Question # 6

If the price in a market is fixed by the government above equilibrium.

Question # 7

A profit maximizing firm will employ labour up to the point where.

Question # 8

In a less developed country.

Question # 9

In a command economy

Question # 10

Market is called father of economics

Question # 11

A multinational busniess

Question # 12

Why is the law of diminishing marginal returns true.

Question # 13

Which of the following is not a macro economic issue.

Question # 14

Which of the following is true.

Question # 15

An increase in national income is.

Question # 16

An increase in investment is most likely to be caused by.

Question # 17

An economy may operate outside the production possibility frontier it.

Question # 18

A profit maximizing firm in perfect competition produces where

Question # 19

If the economy grows the government's budget position will automatically

Question # 20

Supply side policies are most appropriate to cure.

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Economics
1st Chapter

PPSC Economics Chapter 1 Test

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PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 An increase in national income is.
A. Likely to increase exports
B. Likely to decrease savings
C. Likely to decrease investment
D. Likely to increase spending on imports
2 Aggregate demand will increase if
A. Consumption falls
B. Investment falls
C. Exports fall
D. imports fall
3 Why does it make sense in assume that people are rational, if you want to predict their behavior.
A. People are not guided by emotions when making decisions
B. People wheo act in the way that best gets them what they want will tend to repeat that behavior, and will tend to learn from mistakes that they do make
C. People never make mistakes, and tend to make the correct choices all of the time
D. People always logically figure out what to do.
4 Who advocates laissez fair.
A. Monetarists
B. Classical
C. Neo classical
D. Modern
5 For equilibrium in an open four sector economy
A. Actual injections = actual withdrawals
B. Planned injections = Planned withdrawals
C. Savings = investment
D. Government spending = tax revenue
6 GDP plus net property income from aboard equals what.
A. GNP
B. NNP
C. Depreciation
D. Real GDP
7 Which does the government not control directly.
A. Spending on health
B. spending on defense
C. Firm's investment decisions
D. spending on education
8 As income increases.
A. the average propensity to consume gets nearer in value to the marginal propensity to consume
B. the average propensity to consume diverges in value from the marginal propensity to consume
C. the average propensity to consume falls
D. The averge propensity to consume always approaches 0
9 Macro economics deals with
A. Only the decisions made by individuals and their results.
B. Only the decisions made by businesses and their results.
C. Mostly large scale decisions made by countries and governments, and their results.
D. Only the decisions made by individuals but not the results.
10 In a market system sellers act in ___ interest, but this leads to behaviors in ___ interest.
A. Self : self
B. Self ; society's
C. Society's ; society's
D. society's, self

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