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

In the home country government grants a subsidy of a domestically produced good domestic producers tend to.

Question # 2

"Treating an individual as typical of a group.

Question # 3

the theory of overlapping demands predicts that trade in manufactured goods is unimportant by countries with very different .

Question # 4

With no government and foreign trade sectors savings always equals.

Question # 5

The larger the required reserve ratio the.

Question # 6

Which of the following type of taxes is the most regressive.

Question # 7

Which of the followings is NOT component of M-2

Question # 8

A supply schedule shows the relations between the quantity supplied of a commodity over a given time and.

Question # 9

Health of a country's economy is indicated by

Question # 10

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 # 11

In the balcne of payments, travel and tourism are included int he category of.

Question # 12

If a country an imposes an import tariff its welfare can improve if

Question # 13

Price controls are

Question # 14

The arrangement were goods imported from trading partners in the developing world are subject to lower tariff rates than good from other countries is referred to as.

Question # 15

In a market system, sellers act in ___________ interest, but thsi leads to behaviors in __________ interest.

Question # 16

The type of business in which an individual has unlimited responsibility for the debts of the organization.

Question # 17

If there is a price celling, there will be.

Question # 18

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

Question # 19

The agricultural price support program is an example of.

Question # 20

Which of the following is often considered to be inconsistent with the notion of perfect competition.

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Economics
10th Chapter

PPSC Economics Chapter 10 Test

Here you can prepare PPSC Economics Chapter 10 (Most Frequently Asked Economics MCQS) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 10 Important MCQ's

Sr.# Question Answer
1 The central economic problem in an economy refers to.
A. The prevalence of unemployment
B. To allocate scarce resources between competing uses.
C. Consumers having less money than they would like
D. ensure that production costs are converted by sales revenue.
2 The agricultural price support program is an example of.
A. A price celling
B. A price floor
C. Equilibrium pricing
D. None of these
3 Which of the following is automatic stabilizer.
A. Unemployment benefits
B. Spending on education
C. Defense spending
D. Net interest
4 If the % change in quantity demanded is more than % change in price coefficient of price elasticity is.
A. >1
B. <1
C. =1
D. =zero
5 Which of the following would most likely shift the production possibilities curve for a nation outward.
A. A reduction in unemployment
B. An increases in the production of capital goods
C. A reduction in discrimination
D. An increase in the production of consumer goods
6 In a pure market economy which of the following is a function of the price.
i - provide information to sellers and buyers
ii- Provide incentives to sellers and buyers
A. I only
B. ii Only
C. both i and ii
D. Neither i nor ii
7 That the division of labor is limited by the size of the market best applies to which explanation of trade.
A. Factor endowment theory
B. Product life cycle theory
C. Economies of scale theory
D. Overlapping demand theory
8 The term of trade is given by the process.
A. Paid for all goods exported by the home country
B. Received for all goods exported by the home country
C. Received for exports and paid for imports.
D. Of primary product as opposed to manufactured products.
9 A market is in equilibrium when
A. Ac = P
B. MC = MR
C. AC =AR
D. TC =TR
10 In order of practice price discrimination which of the following is needed.
A. Some degree of monopoly power
B. An ability to separate the market
C. An ability to prevent reselling
D. All of the above

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