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

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 2

International difference in opportunity costs lead to countries acquiring.

Question # 3

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 # 4

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 5

A supply curve is directly affected by

Question # 6

In the classical model, potential output can not be increased by

Question # 7

If two firms doing the same thing in the same industry join together this is known as a.

Question # 8

In a free market

Question # 9

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 10

At the intersection of AD and AS equilibrium is achieved in.

Question # 11

Market failure may arise because of.

Question # 12

A good example of a public good is.

Question # 13

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 14

The Philips curve shows the trade off between ________ and _____

Question # 15

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

Question # 16

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

Question # 17

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

Question # 18

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

Question # 19

The increase in total cost when one more units is produced is known as.

Question # 20

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

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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 With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.
A. Increased
B. Unaffected
C. Reduced
D. All of the above
2 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
3 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
4 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around
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 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
7 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
8 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
9 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
10 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce

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