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

By restricting labour supply a trade union can _________ and_______

Question # 2

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

Question # 3

Output fell sharply in the transition economies because.

Question # 4

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 # 5

International specialization takes place because of.

Question # 6

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 7

Real GNP is a crude measure of national welfare because it excludes.

Question # 8

If a long average cost rises, output rises from left to right this is an example of.

Question # 9

If demand is _______ then price cuts will ________ spending.

Question # 10

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 # 11

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

Question # 12

The multiplier accelerator model assumes _______ depends on.

Question # 13

The opportunity cost of acquiring education is.

Question # 14

We cannot say whether one allocation of resources is better than another allocation because.

Question # 15

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 16

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

Question # 17

International difference in opportunity costs lead to countries acquiring.

Question # 18

The short run Philips curve can shift in response to changes in

Question # 19

Possible causes of involuntary unemployment are

Question # 20

The cost of using capital services is the

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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 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
2 Perfect price discrimination means that every customer.
A. Buys the same amount
B. Pays the same price
C. Pays what she thinks the product is worth
D. Contributes the same revenue.
3 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers
4 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
5 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices
6 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
7 Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.
A. Move into surplus
B. Move into deficit
C. Remain unchanged
D. None of these
8 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
9 An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.
A. Reduce , reduce
B. Reduce , increase
C. Increased, increased
D. Increases, reduces
10 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles

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