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 Nash equilibrium each player chooses the best strategy.

Question # 2

Real business cycle are cycles in

Question # 3

Possible causes of involuntary unemployment are

Question # 4

Marginal revenue is the ________ when output is.

Question # 5

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 6

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 7

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 8

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 # 9

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

Question # 10

The multiplier accelerator model assumes _______ depends on.

Question # 11

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 12

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

Question # 13

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 14

The most important source of wage differentiate are.

Question # 15

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

Question # 16

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 17

Higher export demand _______ output and a higher MPZ______ output..

Question # 18

The level of the equilibrium exchange rate offsets international difference in.

Question # 19

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 20

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

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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 The business cycle is not transmitted from one country to another through.
A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labour supply changes
2 A person who is made redundant because of the contraction of an industry is a victim of.
A. Frictional unemployment
B. Demand deficient unemployment
C. Classical unemployment
D. Structural unemployment
3 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
4 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output
5 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
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 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase
8 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
9 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
10 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport

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