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

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Question # 1

In the short run the level of floating exchange rates is determined mainly by.

Question # 2

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 3

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 4

If the MPC is 0.5 the multiplier is

Question # 5

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

Question # 6

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 7

The opportunity cost of acquiring education is.

Question # 8

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

Question # 9

A market can accuretaly be described as

Question # 10

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

Question # 11

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

Question # 12

Economic transition involves high inflation because ______ and _____

Question # 13

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

Question # 14

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

Question # 15

In a competitive industry each buyer and seller.

Question # 16

A fall in investment demand can result from

Question # 17

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 # 18

Efficiency wages are_______ that raise

Question # 19

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Question # 20

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

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Economics
11th Chapter

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Sr.# Question Answer
1 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
2 The prisoners Dilemma Game demonstrates that.
A. Players are better off to act independently
B. Monopoly is better than competition
C. People will always cheat
D. Players are better off if they con operate
3 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
4 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
5 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
6 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate
7 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
8 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
9 In the economy when a steel producer sells steel to car producer it is regarded as.
A. A final good
B. An intermediate good
C. an injection
D. a leakage
10 Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.
A. Keynesian polices
B. Supply side policies
C. Monetarist policies
D. Classical policies
11 If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.
A. Inflation
B. A supply shocks
C. Crowding out
D. Inflation illusion
12 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
13 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
14 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
15 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
16 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
17 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
18 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
19 All of the following are parts of the business cycle except.
A. Boom
B. slump
C. Recovery
D. Acceleration
20 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

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