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

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

Question # 2

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 3

The business cycle describes fluctuations in output around the.

Question # 4

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

Question # 5

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

Question # 6

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 # 7

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 8

The business cycle is not transmitted from one country to another through.

Question # 9

Skilled labour is relatively scarce because.

Question # 10

If the MPC is 0.5 the multiplier is

Question # 11

Comparing a monopoly and a competitive firm the monopolist will.

Question # 12

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

Question # 13

A good example of a public good is.

Question # 14

In the EMU a country's competitiveness can change because of.

Question # 15

Economics assumes that people consume goods and services to achieve.

Question # 16

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

Question # 17

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 18

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

Question # 19

If banks and the private sector decide to hold less cash the money multiplier will be.

Question # 20

The firms long run output decision will be where.

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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 If a long average cost rises, output rises from left to right this is an example of.
A. Increasing returns to scale
B. Decreasing returns to scale.
C. Constant returns to scale
D. the minimum efficient scale
2 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
3 A competitive equilibrium is Pareto efficient because.
A. Producers are price takers
B. Consumers and producer's face the same prices
C. Marginal costs and benefits are equal
D. All of the above
4 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
5 The most important source of wage differentiate are.
A. Reginal variation
B. Unionization
C. Relative danger
D. Skills
6 If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.
A. Inflation
B. A supply shocks
C. Crowding out
D. Inflation illusion
7 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
8 Fiscal policy is weak under floating exchange rates as fiscal expansion.
A. Crowds out imports
B. Crowds out public consumption
C. Crowds out exports
D. Reduces the budget deficit
9 Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.
A. Move into surplus
B. Move into deficit
C. Remain unchanged
D. None of these
10 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

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