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

00:00
Question # 1

Economics assumes that people consume goods and services to achieve.

Question # 2

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 3

In the neoclassical theory of growth a higher saving rate leads to.

Question # 4

Output fell sharply in the transition economies because.

Question # 5

A competitive equilibrium is Pareto efficient because.

Question # 6

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 7

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 # 8

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

Question # 9

Real GNP measures income

Question # 10

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

Question # 11

In an open economy leakages to imports ______ the value of the multiplier.

Question # 12

A natural monopoly has a declining ________ over a large range of output.

Question # 13

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 14

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 15

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 16

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 17

The single European Act committed_ governments to a ___ in 1992

Question # 18

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

Question # 19

The imposition of a tariff causes consumption to _______ and imports to.

Question # 20

Injection into the circular flow are _________ and _______

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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 Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
A. Marginal costs, marginal benefits
B. Demand, supply
C. Marginal cost, marginal revenue
D. Marginal cost, average cost
2 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
3 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other
4 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
5 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
6 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are
7 Market some times fall to exist because of.
A. Externalities
B. the free rider problem
C. Poor transport
D. a an b
8 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
9 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
10 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above

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