PPSC Economics Topic 11 Assess Your Basics MCQS

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PPSC Economics Chapter 11 Important MCQ's

Sr.#	Question	Answer
1	The main cause of different relative costs between countries are.	A. Relative factors competition B. Relative factor mobility C. Relative factor substitution D. Relative factor endowments
2	The retail price index is used to.	A. Construct price lists B. Compare shop prices C. Measure changes in the cost of living D. None of the above
3	In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators	A. Money supply targets B. Income policy C. Interest rates D. Inflation targets
4	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.	A. 30% B. 10% C. 70% D. 40%
5	The single European Act committed_ governments to a ___ in 1992	A. European union, single market B. Western European, single currency area C. European union, single currency area D. Western European, single market
6	Comparing a monopoly and a competitive firm the monopolist will.	A. Produce less at a lower price B. Produce more at a lower price C. Produce less at a higher price D. Produce less at a lower price
7	The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.	A. Reduce, reduce B. increase, increase C. Increase , reduce D. reduce, increase
8	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
9	In Nash equilibrium each player chooses the best strategy.	A. Assuming other players move first. B. Dominated by the other players C. Given the strategies of other players D. That is a credible threat
10	For a competitive firm its short run supply curve is ________ and its long run supply curve is.	A. SMC , LMC B. SMC above SAVC, LMC above LAC C. SMC below SAVC, LMC above LAC D. SMC Below SAVC, LMC below LAC

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PPSC Economics Topic 11 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

PPSC Economics Topic 11 Assess Your Basics

The prisoners Dilemma Game demonstrates that.

Economics is the study of

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

If demand is _______ then price cuts will ________ spending.

Land will be allocated between competing uses so that.

Micro economics is conceded with

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

If the government increase spending and raises taxes by just enough to finance the increase it will.

The multiplier is calculated as.

Firms are assumed to ____ costs and to _______ profit.

All of the following are type of monetary policy except

Aggregate demand without a foreign sector is the sum of.

International specialization takes place because of.

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

The AD schedule indicates that______ inflation is associated with______ output.

An optimal tariff is one which reduces imports to the level at which ___ equals

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

Market some times fall to exist because of.

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

Prepare Complete Set Wise PPSC Economics Topic 11 Assess Your Basics MCQs Online With Answers

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Set 11

Topic Test

PPSC Economics Chapter 11 Test

Top Scorers Of PPSC Economics Topic 11 Assess Your Basics MCQ`s Test

PPSC Economics Chapter 11 Important MCQ's

Test Questions

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If demand is _ then price cuts will __ spending.

Firms are assumed to costs and to ___ profit.

The AD schedule indicates that inflation is associated with output.