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

The long run Philips curve is _________ at the ______

Question # 2

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 3

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

Question # 4

The retail price index is used to.

Question # 5

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

Question # 6

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

Question # 7

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 8

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

Question # 9

The value of an asset depends upon

Question # 10

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 11

All of the following are benefits of the single market except.

Question # 12

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

Question # 13

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

Question # 14

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

Question # 15

A straight line diagram can be drawn knowing the _______ and _____

Question # 16

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 # 17

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

Question # 18

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

Question # 19

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

Question # 20

The opportunity cost of acquiring education is.

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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 natural monopoly has a declining ________ over a large range of output.
A. Long run marginal cost
B. Short run marginal cost
C. Long run average cost
D. Long run marginal cost
2 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
3 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
4 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
5 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
6 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
7 A straight line diagram can be drawn knowing the _______ and _____
A. Vertical axis and horizontal axis
B. Intercept and slope
C. Scale and slope
D. Intercept and scale.
8 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
9 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
10 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole

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