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

00:00
Question # 1

Land will be allocated between competing uses so that.

Question # 2

Normative economics form ______ based on.

Question # 3

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.

Question # 4

Comparing a monopoly and a competitive firm the monopolist will.

Question # 5

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 6

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

Question # 7

A market can accuretaly be described as

Question # 8

Perfect price discrimination means that every customer.

Question # 9

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

Question # 10

The multiplier is calculated as.

Question # 11

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 12

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 13

A good example of a public good is.

Question # 14

If the MPC is 0.5 the multiplier is

Question # 15

A natural monopoly has a declining ________ over a large range of output.

Question # 16

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 17

The AD schedule indicates that______ inflation is associated with______ output.

Question # 18

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

Question # 19

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

Question # 20

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

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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 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
2 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.
A. Private good
B. Merit good
C. Public good
D. Abundant good
3 Micro economics is conceded with
A. The economy as a whole
B. The electronics industry
C. The study of individual economic behavior
D. the interactions within the entire economy
4 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
5 If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.
A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
6 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
7 We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.
A. Smaller
B. Larger
C. the same size
D. None of these
8 A fall in investment demand can result from
A. Higher interest rates
B. Lower expected future profits
C. More expensive capital goods
D. All of the above
9 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
10 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.

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