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

A production technique is technically efficient if.

Question # 2

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 3

Economic growth may depend upon __________ and_________

Question # 4

The cost of using capital services is the

Question # 5

Top footballers land to earn more than lecturers because.

Question # 6

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

Question # 7

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

Question # 8

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 9

The price elasticity of demand measures

Question # 10

The retail price index is used to.

Question # 11

By restricting labour supply a trade union can _________ and_______

Question # 12

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 13

A market can accuretaly be described as

Question # 14

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 # 15

Economic transition involves high inflation because ______ and _____

Question # 16

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

Question # 17

Possible causes of involuntary unemployment are

Question # 18

Skilled labour is relatively scarce because.

Question # 19

All of the following are parts of the business cycle except.

Question # 20

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

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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 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
2 The level of the equilibrium exchange rate offsets international difference in.
A. Comparative advantage
B. Absolute advantage
C. Opportunity cost
D. Relative costs
3 A dominant strategy is.
A. A winning strategy
B. A losing strategy
C. A players best strategy when moving fist
D. a player's best strategy whatever the strategies adopted by rivals
4 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
5 The opportunity cost of a good is.
A. The time lost in finding it
B. The quantity of other goods sacrificed to get another unit of that good
C. The expenditure on the good
D. The loss of interest in using savings
6 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
7 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
8 Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.
A. Keynesian polices
B. Supply side policies
C. Monetarist policies
D. Classical policies
9 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
10 Marginal revenue is the ________ when output is.
A. Change in average revenue, inversed.
B. change in total revenue, increased by one unit
C. change in average revenue, increased by one unit
D. Change in total revenue, incresed.

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