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

In a free market

Question # 2

If the MPC is 0.5 the multiplier is

Question # 3

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 4

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

Question # 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.

Question # 6

All of the following are type of monetary policy except

Question # 7

By restricting labour supply a trade union can _________ and_______

Question # 8

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 9

If both Marginal cost and marginal revenue increase, a firm.

Question # 10

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 11

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 12

The Philips curve shows the trade off between ________ and _____

Question # 13

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 14

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 15

The allocation of resources is not efficient it

Question # 16

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 17

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

Question # 18

Economics assumes that people consume goods and services to achieve.

Question # 19

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

Question # 20

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

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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 Class Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market
2 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
3 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
4 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
5 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
6 In the short run the level of floating exchange rates is determined mainly by.
A. Interest rates
B. Competitiveness
C. Trade
D. Speculation
7 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
8 M4 is a _________ measures of money and includes deposits at both _____________ and
A. Narrow, banks, building societies
B. Wide, banks, insurance companies
C. narrow, banks, insurance companies
D. Wide, banks, building societies.
9 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around
10 In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.
A. A nominal exchange rate, floated
B. A real exchange rate, pegged
C. a purchasing power parity, pegged
D. a real exchange rate, floated

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