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

Real business cycle are cycles in

Question # 2

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 3

International specialization takes place because of.

Question # 4

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 5

A supply curve is directly affected by

Question # 6

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 7

Top footballers land to earn more than lecturers because.

Question # 8

Economics assumes that people consume goods and services to achieve.

Question # 9

In the classical model, potential output can not be increased by

Question # 10

A good example of a public good is.

Question # 11

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 12

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 13

A monopoly may be self perpetuating because profits may be used for

Question # 14

The AD schedule indicates that______ inflation is associated with______ output.

Question # 15

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 16

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

Question # 17

In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.

Question # 18

Normative economics form ______ based on.

Question # 19

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

Question # 20

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

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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 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
2 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
3 The increase in total cost when one more units is produced is known as.
A. Marginal cost
B. Opportunity cost
C. Limited cost
D. Average cost
4 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
5 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.
A. 30%
B. 10%
C. 70%
D. 40%
6 Women and non whiles on average receive lower comes than white men because.
A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above
7 The retail price index is used to.
A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above
8 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
9 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
10 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

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