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

By restricting labour supply a trade union can _________ and_______

Question # 3

Extremality's arise because there is a divergence between ____ and _

Question # 4

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

Question # 5

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

Question # 6

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 7

The costs of inflation are

Question # 8

If the MPC is 0.5 the multiplier is

Question # 9

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 10

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 11

The business cycle is not transmitted from one country to another through.

Question # 12

Firms are assumed to ____ costs and to _______ profit.

Question # 13

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

Question # 14

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 15

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 16

The single European Act committed_ governments to a ___ in 1992

Question # 17

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 18

The most important source of wage differentiate are.

Question # 19

For perfect competition ot work there must be

Question # 20

A competitive equilibrium is Pareto efficient because.

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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 If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.
A. An import subsidy
B. A quota
C. Comparative advantage
D. An export subsidy
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 One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.
A. rise, increases, increases
B. rise, falls, increases
C. rise, increases, falls
D. rise, falls, falls
4 The primary function of a bank is to.
A. Control the money supply
B. Provide notes and coins for trade
C. Make a profit
D. Provide a chequeen clearing system.
5 In Nash equilibrium each player chooses the best strategy.
A. Assuming other players move first.
B. Dominated by the other players
C. Given the strategies of other players
D. That is a credible threat
6 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
7 The value of an asset depends upon
A. Its scrap value
B. Its depreciation
C. The present value of the failure stream of income it can earn.
D. the cost of loans
8 In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.
A. A nominal exchange rate, floated
B. A real exchange rate, pegged
C. a purchasing power parity, pegged
D. a real exchange rate, floated
9 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC
10 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC

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