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

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Question # 1

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

Question # 2

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 3

The prisoners Dilemma Game demonstrates that.

Question # 4

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 5

The price elasticity of demand measures

Question # 6

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

Question # 7

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 8

All of the following are benefits of the single market except.

Question # 9

A supply curve is directly affected by

Question # 10

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 11

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

Question # 12

GDP per head may be an imperfect measure of economic welfare because it excludes.

Question # 13

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 14

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 15

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 16

A profit maximizing firm will hire labor until _______ equal the

Question # 17

The cost of using capital services is the

Question # 18

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

Question # 19

A market can accuretaly be described as

Question # 20

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

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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 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above
2 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
3 Firms are assumed to ____ costs and to _______ profit.
A. Incur , desire
B. Pay ; make
C. Change ;earn
D. Minimize ; maximize
4 We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.
A. Smaller
B. Larger
C. the same size
D. None of these
5 In the short run the level of floating exchange rates is determined mainly by.
A. Interest rates
B. Competitiveness
C. Trade
D. Speculation
6 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
7 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.
A. Reduction, increases
B. reduction,reduction
C. increase, reduction
D. increases, increases
8 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
9 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
10 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.

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