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

Economics assumes that people consume goods and services to achieve.

Question # 2

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 3

Human capital can be described as.

Question # 4

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 5

A competitive firms demand curve is.

Question # 6

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 # 7

The prisoners Dilemma Game demonstrates that.

Question # 8

The allocation of resources is not efficient it

Question # 9

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

Question # 10

Leakages from the circular flow are____ and _____

Question # 11

The multiplier is calculated as.

Question # 12

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 13

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

Question # 14

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

Question # 15

In a free market

Question # 16

Economic transition involves high inflation because ______ and _____

Question # 17

The opportunity cost of a student is.

Question # 18

The retail price index is used to.

Question # 19

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 20

In Nash equilibrium each player chooses the best strategy.

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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 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
2 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
3 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
4 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
5 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds
6 In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.
A. 15%
B. 20%
C. 25%
D. 30%
7 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
8 If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.
A. Inflation
B. A supply shocks
C. Crowding out
D. Inflation illusion
9 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
10 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit

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