PPSC Economics Topic 11 MCQS Test Preparation

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

Try The 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

The main cause of different relative costs between countries are.

Question # 2

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 3

The firms long run output decision will be where.

Question # 4

Real business cycle are cycles in

Question # 5

Potential output can be increased by _________ or by_________

Question # 6

Floating exchange rates are __ in the short run

Question # 7

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 8

Land will be allocated between competing uses so that.

Question # 9

If a long average cost rises, output rises from left to right this is an example of.

Question # 10

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 11

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 12

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 13

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 14

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 15

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 16

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 17

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 18

Micro economics is conceded with

Question # 19

In the classical model, potential output can not be increased by

Question # 20

All of the following represent obstacles to LDC development except.

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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 short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
2 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
3 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
4 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
5 A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
6 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.
7 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above
8 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
9 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
10 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply

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