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

Normative economics form ______ based on.

Question # 2

Output fell sharply in the transition economies because.

Question # 3

The participation rate in the labour force is affected by

Question # 4

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

Question # 5

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

Question # 6

Firms are assumed to ____ costs and to _______ profit.

Question # 7

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

Question # 8

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 # 9

The price elasticity of demand measures

Question # 10

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

Question # 11

Human capital can be described as.

Question # 12

The long run Philips curve is _________ at the ______

Question # 13

The key issues of macroeconomics are

Question # 14

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 15

All of the following are parts of the business cycle except.

Question # 16

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

Question # 17

Land will be allocated between competing uses so that.

Question # 18

If banks and the private sector decide to hold less cash the money multiplier will be.

Question # 19

Injection into the circular flow are _________ and _______

Question # 20

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

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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 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
2 A market can accuretaly be described as
A. A place to buy things
B. a place to sell things
C. The process by which prices adjust to reconcile the allocation of resources
D. a place where buyers and sellers meet.
3 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
4 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.
5 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
6 Short run average total costs are equal to the sum of _______ and______
A. Short run opportunity costs, profit
B. Short run average variable costs, profit
C. short run average variable costs, profit.
D. Short run average variable costs short run average fixed costs
7 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
8 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
9 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z
10 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies

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