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

00:00
Question # 1

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

Question # 2

Short run average total costs are equal to the sum of _______ and______

Question # 3

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 4

All of the following are types of imperfect competition except

Question # 5

The most important source of wage differentiate are.

Question # 6

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.

Question # 7

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

Question # 8

Economic growth may depend upon __________ and_________

Question # 9

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 10

Human capital can be described as.

Question # 11

The multiplier is calculated as.

Question # 12

A competitive firms demand curve is.

Question # 13

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 14

The retail price index is used to.

Question # 15

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 16

If the MPC is 0.5 the multiplier is

Question # 17

If I keep some money available in case I see a bargain this is an example of.

Question # 18

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 # 19

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

Question # 20

We cannot say whether one allocation of resources is better than another allocation because.

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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 Normative economics form ______ based on.
A. Positive statements facts
B. Opinions, personal values
C. Positive statements values
D. Opinions facts
2 Human capital can be described as.
A. The tools used by workers to entrances productivity
B. a persons inherited abilities.
C. The stock of expertise accumulated by a worker
D. Education
3 The business cycle is not transmitted from one country to another through.
A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labour supply changes
4 In the UK in recent years, union membership has ______ and days of work lost because of strikes has.
A. Grown, declined
B. declined, declined
C. declined, grown
D. grown , grown
5 A straight line diagram can be drawn knowing the _______ and _____
A. Vertical axis and horizontal axis
B. Intercept and slope
C. Scale and slope
D. Intercept and scale.
6 Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.
A. Depreciation
B. Appreciation
C. fall
D. Devaluation
7 If demand is _______ then price cuts will ________ spending.
A. Inelastic, increase
B. Elastic, increase
C. Elastic, decreases
D. None of the above
8 The cost of using capital services is the
A. wage rate of capital
B. Interest charges
C. Marginal capital cost
D. Rental rate for capital
9 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
10 If I keep some money available in case I see a bargain this is an example of.
A. Asset demand for money
B. Transactions demand for money
C. Token demand for money
D. Precautionary demand for money

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