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

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 2

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

Question # 3

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 4

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

Question # 5

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 6

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.

Question # 7

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 8

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

Question # 9

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

Question # 10

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 11

The cost of using capital services is the

Question # 12

Firms are assumed to ____ costs and to _______ profit.

Question # 13

A firm that breaks even after all economic costs are paid is earning.

Question # 14

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 15

Economics assumes that people consume goods and services to achieve.

Question # 16

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 17

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 18

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 19

Possible causes of involuntary unemployment are

Question # 20

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

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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 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
2 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
3 The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.
A. Saving investment
B. Capital per person productivity
C. Labour growth , output
D. Investment capital per person
4 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
5 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
6 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
7 If a long average cost rises, output rises from left to right this is an example of.
A. Increasing returns to scale
B. Decreasing returns to scale.
C. Constant returns to scale
D. the minimum efficient scale
8 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.
9 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
10 Potential output can be increased by _________ or by_________
A. Increasing the use of labour, increasing the use of land
B. Increasing the use of capital, increasing the use of labour
C. Increasing the use of land, increasing the use of capital
D. Increasing the use of all inputs technical advances

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