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

The imposition of a tariff causes consumption to _______ and imports to.

Question # 2

In an open economy leakages to imports ______ the value of the multiplier.

Question # 3

Skilled labour is relatively scarce because.

Question # 4

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

Question # 5

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 6

The total multiplier for the economy will reflect.

Question # 7

Economic transition involves high inflation because ______ and _____

Question # 8

A tariff causes domestic firms to __________ and consumers to

Question # 9

All of the following are parts of the business cycle except.

Question # 10

The retail price index is used to.

Question # 11

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

Question # 12

If banks and the private sector decide to hold less cash the money multiplier will be.

Question # 13

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

Question # 14

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 15

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

Question # 16

An increase in consumer income will increase demand for a __________ for decrease demand for a.

Question # 17

The opportunity cost of a good is.

Question # 18

In the neoclassical theory of growth a higher saving rate leads to.

Question # 19

Except for taxes to offset ___ taxes are.

Question # 20

The impossibility of negative gross investment provides a______ to fluctuations in.

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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 multiplier is calculated as.
A. 1(1-MPC)
B. 1/MPS
C. 1/MPC
D. a or b
2 One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.
A. rise, increases, increases
B. rise, falls, increases
C. rise, increases, falls
D. rise, falls, falls
3 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
4 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
5 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
6 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
7 Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.
A. Externality
B. Market imperfection
C. Deadweight burden
D. Free rider
8 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
9 If demand is _______ then price cuts will ________ spending.
A. Inelastic, increase
B. Elastic, increase
C. Elastic, decreases
D. None of the above
10 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices

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