PPSC Economics Topic 11 MCQS Test Preparation

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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

Perfect price discrimination means that every customer.

Question # 2

The multiplier accelerator model assumes _______ depends on.

Question # 3

Comparing a monopoly and a competitive firm the monopolist will.

Question # 4

The multiplier is calculated as.

Question # 5

In an open economy leakages to imports ______ the value of the multiplier.

Question # 6

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 7

A fall in investment demand can result from

Question # 8

The primary function of a bank is to.

Question # 9

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

Question # 10

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

Question # 11

A dominant strategy is.

Question # 12

Bank create money by

Question # 13

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 14

Macro economics is the study of.

Question # 15

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 16

The cost of using capital services is the

Question # 17

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

Question # 18

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

Question # 19

The imposition of a tariff causes consumption to _______ and imports to.

Question # 20

Short run equilibrium output means that aggregate demand _ actual output

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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 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
2 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices
3 A fall in investment demand can result from
A. Higher interest rates
B. Lower expected future profits
C. More expensive capital goods
D. All of the above
4 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
5 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
6 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
7 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
8 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
9 If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.
A. a nonlinear relationship
B. A positive linear relationship
C. A scatter diagram
D. A negative linear relationship
10 The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.
A. Sun spect theory
B. Multiplier accelerator model
C. Solow theory
D. New classical theory

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