PPSC Economics Topic 10 Most Frequently Asked Economics MCQS

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PPSC Economics Chapter 10 Important MCQ's

Sr.#	Question	Answer
1	In the circular flow diagram firms.	A. Receive revenue and supply resources in the resource market B. Incur costs and demand resources in the resource market. C. Receive revenue and demand resources in the product market. D. Incur costs and supply goods and services in the product market.
2	Currency speculations is_________ if speculators bet against market forces that cause exchange functions, thus moderating such fluclutions.	A. Destabilizing B. Stabilizing C. Inflationary D. Deflationary
3	Equilibrium price is a price at which	A. Quantity demanded is equal to quantity suppled B. Quantity demanded minus quantity supplied is zero C. quantity demanded = quantity supplied D. All of these
4	John Stuart Mill was the founder of the	A. Theory of reciprocal demand B. Theory of absolute advantage C. Theory of comparative advantage D. Theory of mercantilism
5	Disposable income is.	A. Income less taxes B. Income less direct taxes C. income less indirect taxes D. All of these
6	the theory of overlapping demands predicts that trade in manufactured goods is unimportant by countries with very different .	A. Tastes and preferences. B. Expectations of future interest rate levels C. Per capita income levels D. Labor productivities.
7	The investment demand curve shifts right ward if	A. The real interest rate falls B. Savers increase their thriftiness C. The expected profit rate increases. D. The economy moves into a recession
8	International trade forces domestic firms to become more competitive in terms of.	A. The introduction of new products B. Product design and quantity C. Product price D. All of the above
9	The law of demand states that	A. As the quantity demanded rises, the price rises B. As the price rustiest he quantity demined rises C. As the price rises, the quantity demanded falls D. As supply rise, the demand rises
10	In the home country government grants a subsidy of a domestically produced good domestic producers tend to.	A. Capture the entire subsidy in the form of higher profits B. Increase their level of production C. Reduce wages paid to domestic workers D. Consider the subsidy as an increase in production cost

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PPSC Economics Topic 10 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 10 Public Finance

PPSC Economics Topic 10 Public Finance

Why is the law of diminishing marginal returns ture.

The bowed shape of the production possibilities curve illustrates

The term of trade is given by the process.

In the theory of the firm profit maximization is always synonymous with.

The impact and incidence of sales tax is

In oligopoly market seller are.

Those who argue in favor of import protection generally give the impression that such restricted trade will

The overall Budget Deficit is financed from

The fundamental economics problem faced by all societies is

A politician proposes reducing business taxes, a move she says will encourage risk taking entrepreneurship This proposed cut in business taxes is intended to stimulate the economy mainly though.

An economy that has achieved full production has achieved

the difference between actual and planned expenditure is equal to.

Through the world government tend o auction quota license to their highest bidder.

Non tariff trade barriers could include all of the following except

A purely monetary explanation of the business cycle is proposed by

The multiplier for a change in social security benefits is equl to the multiplier for a change in the same direction in salaries of Evanston police officers tiems.

Which of the following the most elastic demand the extra revenue a firm receives from the services of an additional unit of a factor of production.

Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is

Depreciation is.

In the classical model of Ricardo the direction of trade is delemined by.

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PPSC Economics Chapter 10 Test

Top Scorers Of PPSC Economics Topic 10 Public Finance MCQ`s Test

PPSC Economics Chapter 10 Important MCQ's

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