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

Economic transition involves high inflation because ______ and _____

Question # 2

All of the following represent obstacles to LDC development except.

Question # 3

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

Question # 4

The increase in total cost when one more units is produced is known as.

Question # 5

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 6

The single European Act committed_ governments to a ___ in 1992

Question # 7

The key issues of macroeconomics are

Question # 8

Skilled labour is relatively scarce because.

Question # 9

The multiplier accelerator model assumes _______ depends on.

Question # 10

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 11

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 12

The price elasticity of demand measures

Question # 13

For given government spending and taxation the government budget deficit will grow in __________ and decline in _________

Question # 14

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

Question # 15

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 16

A profit maximizing firm will hire labor until _______ equal the

Question # 17

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

Question # 18

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 19

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

Question # 20

Women and non whiles on average receive lower comes than white men because.

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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 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
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 The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.
A. Sun spect theory
B. Multiplier accelerator model
C. Solow theory
D. New classical theory
4 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
5 Leakages from the circular flow are____ and _____
A. Investment savings, government expenditure
B. Saving , taxes net of subsidies, imports
C. Consumption, investment , government expenditure.
D. Consumption, taxes, impports
6 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
7 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
8 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
9 In Nash equilibrium each player chooses the best strategy.
A. Assuming other players move first.
B. Dominated by the other players
C. Given the strategies of other players
D. That is a credible threat
10 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

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