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

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

Question # 2

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

Question # 3

Injection into the circular flow are _________ and _______

Question # 4

A current account deficit means that a country may.

Question # 5

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 6

If both Marginal cost and marginal revenue increase, a firm.

Question # 7

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 8

Economics assumes that people consume goods and services to achieve.

Question # 9

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 10

The multiplier is calculated as.

Question # 11

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

Question # 12

Human capital can be described as.

Question # 13

The price elasticity of demand measures

Question # 14

Higher export demand _______ output and a higher MPZ______ output..

Question # 15

The allocation of resources is not efficient it

Question # 16

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 17

Normative economics form ______ based on.

Question # 18

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 19

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 20

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

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
2 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
3 If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.
A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
4 Comparing a monopoly and a competitive firm the monopolist will.
A. Produce less at a lower price
B. Produce more at a lower price
C. Produce less at a higher price
D. Produce less at a lower price
5 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
6 Top footballers land to earn more than lecturers because.
A. Footballers give more entertainment
B. Lecturers are lazy
C. The labour markets are imperfect
D. Top footballers are relatively scarce in relation to lecturers
7 If I keep some money available in case I see a bargain this is an example of.
A. Asset demand for money
B. Transactions demand for money
C. Token demand for money
D. Precautionary demand for money
8 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
9 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
10 An optimal tariff is one which reduces imports to the level at which ___ equals
A. imports , exports
B. The balance of trade, zero
C. The demand for currency, the supply of currency
D. Social marginal cost social marginal benefit

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