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

a demand curve can shift because of changing.

Question # 2

The real value can be derived from a nominal value by

Question # 3

The multiplier tells us how much __________ chagnes after a shift in.

Question # 4

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 # 5

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

Question # 6

A natural monopoly has a declining ________ over a large range of output.

Question # 7

A firm that breaks even after all economic costs are paid is earning.

Question # 8

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 9

The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____

Question # 10

The allocation of resources is not efficient it

Question # 11

For perfect competition ot work there must be

Question # 12

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

Question # 13

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 14

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

Question # 15

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.

Question # 16

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

Question # 17

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 18

The multiplier accelerator model assumes _______ depends on.

Question # 19

If desired spending in the economy exceeds income we would expect.

Question # 20

In the economy when a steel producer sells steel to car producer it is regarded as.

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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 competitive equilibrium is Pareto efficient because.
A. Producers are price takers
B. Consumers and producer's face the same prices
C. Marginal costs and benefits are equal
D. All of the above
2 If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.
A. 30%
B. 10%
C. 70%
D. 40%
3 If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by
A. 20%
B. 2%
C. 12%
D. 15%
4 Real GNP is a crude measure of national welfare because it excludes.
A. Consumption
B. Investment
C. Export's
D. work in the home
5 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
6 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above
7 When real income increases, other things equal we fan expect the demand for real money holdings to.
A. Fall
B. Not change
C. Increase
D. Decrease
8 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
9 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
10 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic

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