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 Most Frequently Asked Economics MCQS

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PPSC Economics Topic 10 Most Frequently Asked Economics MCQS

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Question # 1

Similar to import tariffs, import quotas tend to result in.

Question # 2

There is positive relationship between multiplier and.

Question # 3

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

Question # 4

Which of the following is a stock variable.

Question # 5

International trade during the 19th century was characterized by.

Question # 6

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

Question # 7

If a country has linear production possibilities frontier than production is said to be subject to.

Question # 8

In oligopoly market seller are.

Question # 9

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 # 10

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

Question # 11

A firm can fund an investment from its own sources, the opportunity cost of its investment is

Question # 12

International trade is based on the idea that.

Question # 13

A decrease in lump sum taxes is an examples of.

Question # 14

The asset market approach a more helpful in explaning.

Question # 15

Skills that cna be transferred to other employers are called.

Question # 16

International trade in goods and services is sometimes used as a substitute for all of the following except.

Question # 17

Negative taxation refers to.

Question # 18

Suppose that the supply curve of lin is highly inelastic if the demand curve of lin decreases and increases cyclically along the supply curve of lin then in this market the size of the quantity fluctuations will be _____ the size of the price fluctuations.

Question # 19

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

Question # 20

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

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Economics
10th Chapter

PPSC Economics Chapter 10 Test

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Sr.# Question Answer
1 Those who argue in favor of import protection generally give the impression that such restricted trade will
A. Decrease the level of national security
B. Provide benefits to some particular industry
C. Provides benefits to the entire nation
D. Not yield welfare losses for the nation
2 A change in the full employment quantity of labor_________ the short run aggregate supply curve and ______ the long run aggregate supply curve.
A. shifts ; shifts
B. shifts ; does not shift
C. does not shift ; shift
D. does not shift ; does not shift
3 Since 1960 the rage of economic growth in the country has been
A. On the decline continuously
B. Increasing continuously
C. increasing occasionally.
D. Static in real terms
4 Price controls are
A. Necessary for consumer's welfares
B. A must to check inflation
C. Doomed to fall
D. None of these
5 Monopoly market is characteristics by
A. A large number of sellers
B. Only one seller
C. Thousand of seller
D. All of these
6 When unintended investment is positive
A. Output tends to rise
B. Output tends to fall
C. Output is in equilibrium
D. None of these
7 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
8 A pure number by which change in investment is multiplied to change in income is called
A. Multiplier
B. Accelerator
C. Stabilizer
D. All of these
9 If tastes are identical between countries than comparative advantage is determined by
A. Supply conditions only
B. Demand conditions only
C. Supply and demand conditions
D. Can't tell without more information.
10 A firm can fund an investment from its own sources, the opportunity cost of its investment is
A. Less than zero
B. Zero
C. More than zero
D. Neither

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