PPSC Economics Topic 11 MCQS Test Preparation

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MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

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PPSC Economics Topic 11 Assess Your Basics

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Question # 1

Potential output can be increased by _________ or by_________

Question # 2

In Nash equilibrium each player chooses the best strategy.

Question # 3

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 4

The allocation of resources is not efficient it

Question # 5

Top footballers land to earn more than lecturers because.

Question # 6

If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.

Question # 7

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

Question # 8

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 9

A monopoly may be self perpetuating because profits may be used for

Question # 10

We cannot say whether one allocation of resources is better than another allocation because.

Question # 11

Aggregate demand without a foreign sector is the sum of.

Question # 12

The single European Act committed_ governments to a ___ in 1992

Question # 13

Possible causes of involuntary unemployment are

Question # 14

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 15

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 16

In the short run the level of floating exchange rates is determined mainly by.

Question # 17

All of the following are types of imperfect competition except

Question # 18

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 19

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 20

The multiplier tells us how much __________ chagnes after a shift in.

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

Here you can prepare PPSC Economics Chapter 11 (Assess Your Basics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
A. capital widening, technical innovation
B. Capital widening, catch up in technology
C. Capital deepening, technical innovation
D. Capital deepening, catch up technology.
2 We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.
A. Smaller
B. Larger
C. the same size
D. None of these
3 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
4 Within circular flow of income, an increase in domestic income iwll lend to increase.
A. Exports
B. Taxes
C. Inventories
D. Imports
5 If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.
A. Private good
B. Merit good
C. Public good
D. Abundant good
6 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above
7 If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.
A. 30%
B. 10%
C. 70%
D. 40%
8 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility
9 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
10 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit

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