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

A change in the full employment quantity of labor_________ the short run aggregate supply curve and ______ the long run aggregate supply curve.

Question # 2

In autarky equilibrium.

Question # 3

Indirect taxes are

Question # 4

A demand curve shows the relation between the quantity demanded to a commodity over a given time and.

Question # 5

The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.

Question # 6

According to the cost based definition of dumping dumping occurs when a firm sets a product abroad at a price that is less than

Question # 7

Disposable incomes is equal to.

Question # 8

Currency speculations is_________ if speculators bet against market forces that cause exchange functions, thus moderating such fluclutions.

Question # 9

During the last eight years the per capita income in Pakistan has been

Question # 10

If the autarky price of S were lower in country A than in country B, then if trade were allowed.

Question # 11

A decrease in lump sum taxes is an examples of.

Question # 12

In autarky when a community maximizes its standard of living its production points is.

Question # 13

The earliest statement of the principle of comparative advantage is associated with.

Question # 14

Compared to the case of perfect competition.

Question # 15

Which of the following would most likely shift the production possibilities curve for a nation outward.

Question # 16

Accordant the wealth effect , an increase i the price level _______ real wealth and ____ consumption expenditure.

Question # 17

Which of the following is most likely to benefit a debtor.

Question # 18

A tax 15 percent per imported item would be an example of a

Question # 19

The larger the required reserve ratio the.

Question # 20

Your checking account is

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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 The fundamental economics problem faced by all societies is
A. Un employment
B. In equality
C. Poverty
D. Scarcity
2 Which of the following strategies have developing countries not used to deal with the problem of unstable expert markets.
A. Multilateral contracts
B. Production and export controls
C. Buffer stock arrangements
D. Tariff rate quotes
3 Of the following which one is a characteristic of monopolistic competition.
A. Standardized product
B. Comparatively easy only
C. Little non price competition
D. None of these
4 Disposable income is.
A. Income less taxes
B. Income less direct taxes
C. income less indirect taxes
D. All of these
5 Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is
A. Positive
B. Negative
C. Infinite
D. None of these
6 In order to maximize profits a monopoly company will produce that quantity at which the
A. A marginal revenue equals average total cost
B. Price equals marginal revenue
C. Marginal revue equals marginal cost
D. Total revenue equals total cost
7 According the Keynes when the great depression started , the government should have.
A. Done nothing
B. Decreased the money supply
C. Had a large increase in government spending.
D. Enacted high tariffs, such as the smoot Hawley tariff
8 In 25 years Pakistan's Per capital income
A. More than doubled
B. Less than doubled
C. Did not show more than 70% increase
D. None of the above
9 In a market system, sellers act in ___________ interest, but thsi leads to behaviors in __________ interest.
A. Self, self
B. Self, society's
C. Society's' , society's
D. society's, self
10 Similar to import tariffs, import quotas tend to result in.
A. Higher prices and reduced imports
B. Increasesed government revenue
C. Increased consumer surplus
D. Decrease producer surplus

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