PPSC Economics Topic 10 MCQS Test Preparation

Punjab Public Service Commission, PPSC is an organization regulated by the Punjab government to sort out the suitable and deserving candidates for several vacant positions at the Punjab province level. The organization makes sure that the exams are conducted in a peaceful and satisfactory environment. Moreover, the organization also announces the results with complete transparency and helps in the further recruiting process at the provincial level.

MCQ's Test For PPSC Economics Topic 10 Public Finance

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PPSC Economics Topic 10 Public Finance

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Question # 1

Livestock is

Question # 2

That the division of labor is limited by the size of the market best applies to which explanation of trade.

Question # 3

Import substitution is an example of.

Question # 4

There is positive relationship between multiplier and.

Question # 5

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.

Question # 6

In order of practice price discrimination which of the following is needed.

Question # 7

If in market the seller is changing different prices for the same commodity from different consumers it is known as.

Question # 8

The form of intonational price discrimination normally associated with economic recession or excess inventions in the exporting nation is known as.

Question # 9

Capitalism refers to

Question # 10

Disposable income is.

Question # 11

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.

Question # 12

A tax of 20 cents per unit of imported cheese would be an example of a

Question # 13

Which of the following is likely ot be longer for monetary policy that for fiscal policy.

Question # 14

Productivity can grow.

Question # 15

The impact and incidence of sales tax is

Question # 16

If tastes are identical between countries than comparative advantage is determined by

Question # 17

The locus of equilibrium of consumers due to changes in price of a commodity is known as.

Question # 18

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.

Question # 19

The production function will be affected by changes in the prices of.

Question # 20

According the Keynes when the great depression started , the government should have.

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Economics
10th Chapter

PPSC Economics Chapter 10 Test

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PPSC Economics Chapter 10 Important MCQ's

Sr.# Question Answer
1 Indirect taxes are
A. Direct taxes - subsidies
B. Subsidies
C. Sales taxes
D. Income taxes
2 The overall Budget Deficit is financed from
A. External borrowing
B. Non bank borrowing domestically
C. Bank borrowing plus the above two at a and b
D. None of the above
3 The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.
A. 2%
B. 3%
C. 7%
D. 4%
4 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
5 A tariff can________ raise a country's welfare.
A. Sometimes
B. Never
C. Always
D. None of these
6 Increases in minimum wage
A. Helps in controlling unemploymentr
B. Increases unemploymentr
C. Reduce wage bill
D. None of these
7 Which of the following is often considered to be inconsistent with the notion of perfect competition.
A. Large number of firms
B. Free entry
C. Complete mobility
D. None of these
8 All economic model ae based on
A. Realistic assumptions
B. Assumptions which can never be perfectly realistic
C. Unrealistic assumptions
D. None of the above
9 Absolute advantage is determined by.,
A. Actual difference in labor productivity between countries.
B. Relative difference in labor productivity between countries.
C. Both a and b
D. neither a and b
10 An Engel curve is based on which one of the following assumptions.
A. Constant prices, very incomes
B. Constant price, constant income
C. Constant incomes, varying prices
D. None of these

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