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

00:00
Question # 1

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Question # 2

Economics is the study of

Question # 3

Marginal revenue is the ________ when output is.

Question # 4

The long run Philips curve is _________ at the ______

Question # 5

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 6

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 7

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 8

Normative economics form ______ based on.

Question # 9

The opportunity cost of a good is.

Question # 10

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

Question # 11

If a long average cost rises, output rises from left to right this is an example of.

Question # 12

The retail price index is used to.

Question # 13

A tariff causes domestic firms to __________ and consumers to

Question # 14

The opportunity cost of a student is.

Question # 15

In the circular flow we would expect leakages to __________ injections.

Question # 16

A market can accuretaly be described as

Question # 17

The price elasticity of demand measures

Question # 18

If desired spending in the economy exceeds income we would expect.

Question # 19

International difference in opportunity costs lead to countries acquiring.

Question # 20

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

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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 Monetarists believe that a reduction in _____ can be achieved by reducing.
A. Unemployment, prices
B. Inflation, wages
C. Unemployment, wages
D. Inflation, the quantity of nominal money
2 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
3 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
4 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
5 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
6 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.
7 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above
8 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above
9 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
10 Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
A. Marginal costs, marginal benefits
B. Demand, supply
C. Marginal cost, marginal revenue
D. Marginal cost, average cost

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