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

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

Question # 2

Depreciation is.

Question # 3

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

Question # 4

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

Question # 5

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

Question # 6

A tariff can________ raise a country's welfare.

Question # 7

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

Question # 8

A_______ is an example of a quota where foreigners hold quota licenses.

Question # 9

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

Question # 10

Of the following which one is a characteristic of monopolistic competition.

Question # 11

Livestock is

Question # 12

International trade is based on the idea that.

Question # 13

Personal inocme is obtained by adding which items to national income

Question # 14

There is positive relationship between multiplier and.

Question # 15

An economy that has achieved full production has achieved

Question # 16

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 # 17

Industrial polices intended to foster comparative advantage for domestic industries could result in the implementation of.

Question # 18

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

Question # 19

A tariff that probibits imports ahs only

Question # 20

Which of the following is a stock variable.

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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 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
2 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
3 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
4 The exogenous variable in the income equation C +!+G = y is
A. C
B. I
C. G
D. None of these
5 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
6 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
7 If a country has linear production possibilities frontier than production is said to be subject to.
A. constant opportunity costs
B. Decreasing opportunity costs
C. First increasing and the decreasing opportunity costs
D. Increasing opportunity costs.
8 Comparative 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
9 A tax of 20 cents per unit of imported cheese would be an example of a
A. Compound tariff
B. Effective traiff
C. Ad valorem tariff
D. Specific tariff
10 In autarky when a community maximizes its standard of living its production points is.
A. Below the production possibility frontier
B. On the production possibility frontier
C. Above the production possibility frontier
D. Can't tell without more information.

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