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

Skilled labour is relatively scarce because.

Question # 2

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.

Question # 3

Top footballers land to earn more than lecturers because.

Question # 4

A straight line diagram can be drawn knowing the _______ and _____

Question # 5

International specialization takes place because of.

Question # 6

By restricting labour supply a trade union can _________ and_______

Question # 7

A supply curve is directly affected by

Question # 8

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

Question # 9

If demand is _______ then price cuts will ________ spending.

Question # 10

International difference in opportunity costs lead to countries acquiring.

Question # 11

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

Question # 12

All of the following are types of imperfect competition except

Question # 13

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 # 14

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 15

A fall in investment demand can result from

Question # 16

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

Question # 17

A firm that breaks even after all economic costs are paid is earning.

Question # 18

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 19

In Nash equilibrium each player chooses the best strategy.

Question # 20

The impossibility of negative gross investment provides a______ to fluctuations in.

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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 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
2 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
3 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
4 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
5 A current account deficit means that a country may.
A. Reduce its stock of foreign assets
B. Increases its stock of foreign assets
C. Increases its savings
D. Increases its foreign currency reserves.
6 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
7 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
8 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
9 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are
10 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ

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