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

The extra utility from consuming one more unit of a good is called.

Question # 2

Economic transition involves high inflation because ______ and _____

Question # 3

A competitive firms demand curve is.

Question # 4

Real GNP measures income

Question # 5

If demand is _______ then price cuts will ________ spending.

Question # 6

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

Question # 7

If a country has a burden of debt it cannot sustain it can.

Question # 8

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 9

A fall in investment demand can result from

Question # 10

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

Question # 11

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 12

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 13

Aggregate demand without a foreign sector is the sum of.

Question # 14

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

Question # 15

Economics assumes that people consume goods and services to achieve.

Question # 16

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 # 17

Real GNP is a crude measure of national welfare because it excludes.

Question # 18

In the UK under a _________ of the labour force belong to a trade union.

Question # 19

We cannot say whether one allocation of resources is better than another allocation because.

Question # 20

The price elasticity of demand measures

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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 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit
2 Injection into the circular flow are _________ and _______
A. Consumption, investment, exports
B. Investment exports, transfer payments
C. Investment government expenditure, exports.
D. Taxes, exports, transfer payments.
3 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
4 Higher export demand _______ output and a higher MPZ______ output..
A. Reduces, reduces
B. Reduces, increases
C. Increases, reduces
D. increases, increases
5 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
6 When capital mobility is perfect, interest rate differentials will tend to be offset by
A. Price differences.
B. Balance of payments differences.
C. Current account differences.
D. Expected exchange rate changes
7 The most important source of wage differentiate are.
A. Reginal variation
B. Unionization
C. Relative danger
D. Skills
8 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
9 GDP per head may be an imperfect measure of economic welfare because it excludes.
A. The value of leisure
B. Externalities
C. Untraded goods
D. All of the above
10 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.

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