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

In a free market

Question # 2

In the EMU a country's competitiveness can change because of.

Question # 3

Perfect price discrimination means that every customer.

Question # 4

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 5

Top footballers land to earn more than lecturers because.

Question # 6

The long run Philips curve is _________ at the ______

Question # 7

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 8

The extra utility from consuming one more unit of a good is called.

Question # 9

Economic growth may depend upon __________ and_________

Question # 10

Economics assumes that people consume goods and services to achieve.

Question # 11

On a graph a positive linear relation ship.

Question # 12

The AD schedule indicates that______ inflation is associated with______ output.

Question # 13

Aggregate demand without a foreign sector is the sum of.

Question # 14

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

Question # 15

Market some times fall to exist because of.

Question # 16

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

Question # 17

Micro economics is conceded with

Question # 18

The opportunity cost of acquiring education is.

Question # 19

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

Question # 20

Government may contribute to inflationary pressure on account of building up large.

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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 M4 is a _________ measures of money and includes deposits at both _____________ and
A. Narrow, banks, building societies
B. Wide, banks, insurance companies
C. narrow, banks, insurance companies
D. Wide, banks, building societies.
2 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
3 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
4 By restricting labour supply a trade union can _________ and_______
A. Increase the wage, increase employment
B. Maintain the wage, increase employment
C. Increase the wage lower employment
D. Maintain the wage, lower employment
5 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
6 If some body is prepared to work at the going wage rate but cannot find work than they are victims of.
A. Voluntary unemployment
B. Classical unemployment
C. Frictional unemployment.
D. All of the above
7 the Maastricht criteria for entry to the EMU are that applicants should have
A. Low inflation
B. Low interest rates
C. Stable nominal exchange rate
D. All of the above
8 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
9 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
10 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.

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