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

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

Question # 2

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

Question # 3

A profit maximizing firm will hire labor until _______ equal the

Question # 4

A good example of a public good is.

Question # 5

In the EMU a country's competitiveness can change because of.

Question # 6

Normative economics form ______ based on.

Question # 7

The costs of inflation are

Question # 8

International difference in opportunity costs lead to countries acquiring.

Question # 9

All of the following represent obstacles to LDC development except.

Question # 10

The real value can be derived from a nominal value by

Question # 11

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 12

The firms long run output decision will be where.

Question # 13

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 14

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

Question # 15

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 16

Market some times fall to exist because of.

Question # 17

Firms are assumed to ____ costs and to _______ profit.

Question # 18

The value of an asset depends upon

Question # 19

In the neoclassical theory of growth a higher saving rate leads to.

Question # 20

Short run average total costs are equal to the sum of _______ and______

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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 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
2 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
3 Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.
A. Externality
B. Market imperfection
C. Deadweight burden
D. Free rider
4 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
5 The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.
A. Saving investment
B. Capital per person productivity
C. Labour growth , output
D. Investment capital per person
6 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
7 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
8 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
9 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
10 Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.
A. Current account
B. Interest rate
C. Tax
D. Price

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