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

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 2

In Nash equilibrium each player chooses the best strategy.

Question # 3

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 4

The allocation of resources is not efficient it

Question # 5

Except for taxes to offset ___ taxes are.

Question # 6

Marginal revenue is the ________ when output is.

Question # 7

The primary function of a bank is to.

Question # 8

If demand is _______ then price cuts will ________ spending.

Question # 9

Economics is the study of

Question # 10

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

Question # 11

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

Question # 12

Perfect price discrimination means that every customer.

Question # 13

All of the following represent obstacles to LDC development except.

Question # 14

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.

Question # 15

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

Question # 16

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

Question # 17

Human capital can be described as.

Question # 18

A profit maximizing firm will hire labor until _______ equal the

Question # 19

The firms long run output decision will be where.

Question # 20

For perfect competition ot work there must be

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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 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
2 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
3 Within circular flow of income, an increase in domestic income iwll lend to increase.
A. Exports
B. Taxes
C. Inventories
D. Imports
4 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
5 If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.
A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
6 The multiplier tells us how much __________ chagnes after a shift in.
A. Consumption, income
B. Investment , output
C. Savings, investment
D. output, aggregate demand
7 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift
8 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
9 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
10 Possible causes of involuntary unemployment are
A. Minimum wage agreements
B. Trade unions
C. Scale economies
D. All of the abvoe

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