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

Human capital can be described as.

Question # 2

The opportunity cost of acquiring education is.

Question # 3

The multiplier is calculated as.

Question # 4

Economics is the study of

Question # 5

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.

Question # 6

In the short run the level of floating exchange rates is determined mainly by.

Question # 7

The costs of inflation are

Question # 8

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 9

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 10

A competitive firm produces a level of output at which.

Question # 11

The allocation of resources is not efficient it

Question # 12

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 13

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 # 14

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 15

On a graph a positive linear relation ship.

Question # 16

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

Question # 17

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 18

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

Question # 19

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

Question # 20

The price elasticity of demand measures

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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 Women and non whiles on average receive lower comes than white men because.
A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above
2 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
3 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
4 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
5 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
6 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.
A. Private good
B. Merit good
C. Public good
D. Abundant good
7 The long run Philips curve is _________ at the ______
A. Horizontal natural rate of inflation
B. Horizontal , natural rate of unemployment
C. Vertical , natural rte of inflation
D. Vertical , equilibrium rate of unemployment.
8 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
9 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output
10 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market

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