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

00:00
Question # 1

At the intersection of AD and AS equilibrium is achieved in.

Question # 2

Economics assumes that people consume goods and services to achieve.

Question # 3

Except for taxes to offset ___ taxes are.

Question # 4

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

Question # 5

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

Question # 6

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

Question # 7

If demand is _______ then price cuts will ________ spending.

Question # 8

In the UK under a _________ of the labour force belong to a trade union.

Question # 9

LDC's often have a comparative advantage in the production of.

Question # 10

The allocation of resources is not efficient it

Question # 11

A production technique is technically efficient if.

Question # 12

The equilibrium price clears the market it is the price at which.

Question # 13

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 14

All of the following are parts of the business cycle except.

Question # 15

The level of the equilibrium exchange rate offsets international difference in.

Question # 16

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.

Question # 17

The opportunity cost of a good is.

Question # 18

Human capital can be described as.

Question # 19

Economic transition involves high inflation because ______ and _____

Question # 20

The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____

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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 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
2 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
3 The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.
A. Saving investment
B. Capital per person productivity
C. Labour growth , output
D. Investment capital per person
4 A person who is made redundant because of the contraction of an industry is a victim of.
A. Frictional unemployment
B. Demand deficient unemployment
C. Classical unemployment
D. Structural unemployment
5 Potential output can be increased by _________ or by_________
A. Increasing the use of labour, increasing the use of land
B. Increasing the use of capital, increasing the use of labour
C. Increasing the use of land, increasing the use of capital
D. Increasing the use of all inputs technical advances
6 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
7 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
8 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
9 Market some times fall to exist because of.
A. Externalities
B. the free rider problem
C. Poor transport
D. a an b
10 When investment is assumed to autonomous the slope of the AD schedule is determined by the.
A. Marginal propensity to invest.
B. disposable income
C. Marginal propensity to consume
D. Average properisity to consume

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