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

Short run equilibrium output means that aggregate demand _ actual output

Question # 2

International difference in opportunity costs lead to countries acquiring.

Question # 3

If I keep some money available in case I see a bargain this is an example of.

Question # 4

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 5

A current account deficit means that a country may.

Question # 6

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 7

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

Question # 8

For perfect competition ot work there must be

Question # 9

A straight line diagram can be drawn knowing the _______ and _____

Question # 10

Marginal revenue is the ________ when output is.

Question # 11

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 12

An increase in consumer income will increase demand for a __________ for decrease demand for a.

Question # 13

When we refer to the hidden economy we mean unrecorded income owing to.

Question # 14

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 15

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 16

Economics assumes that people consume goods and services to achieve.

Question # 17

Real GNP is a crude measure of national welfare because it excludes.

Question # 18

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

Question # 19

A competitive firms demand curve is.

Question # 20

Real GNP measures income

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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 One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.
A. rise, increases, increases
B. rise, falls, increases
C. rise, increases, falls
D. rise, falls, falls
2 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC
3 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.
4 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
5 A market can accuretaly be described as
A. A place to buy things
B. a place to sell things
C. The process by which prices adjust to reconcile the allocation of resources
D. a place where buyers and sellers meet.
6 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
7 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
8 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality
9 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.
10 In the economy when a steel producer sells steel to car producer it is regarded as.
A. A final good
B. An intermediate good
C. an injection
D. a leakage

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