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

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 2

All of the following are types of imperfect competition except

Question # 3

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

Question # 4

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

Question # 5

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 6

Women and non whiles on average receive lower comes than white men because.

Question # 7

Market failure may arise because of.

Question # 8

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

Question # 9

Extremality's arise because there is a divergence between ____ and _

Question # 10

The single European Act committed_ governments to a ___ in 1992

Question # 11

A supply curve is directly affected by

Question # 12

The short run Philips curve can shift in response to changes in

Question # 13

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 14

If two firms doing the same thing in the same industry join together this is known as a.

Question # 15

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 16

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 17

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 18

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

Question # 19

The multiplier accelerator model assumes _______ depends on.

Question # 20

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

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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 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
2 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
3 When capital mobility is perfect, interest rate differentials will tend to be offset by
A. Price differences.
B. Balance of payments differences.
C. Current account differences.
D. Expected exchange rate changes
4 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.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
5 The value of an asset depends upon
A. Its scrap value
B. Its depreciation
C. The present value of the failure stream of income it can earn.
D. the cost of loans
6 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other
7 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
8 By restricting labour supply a trade union can _________ and_______
A. Increase the wage, increase employment
B. Maintain the wage, increase employment
C. Increase the wage lower employment
D. Maintain the wage, lower employment
9 Economic growth may depend upon __________ and_________
A.
Population size , x -efficiency
B. Population age distribution, education
C. Population growth, education
D. Population growth, technical progress
10 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal

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