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

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Question # 1

In Nash equilibrium each player chooses the best strategy.

Question # 2

The long run Philips curve is _________ at the ______

Question # 3

The opportunity cost of acquiring education is.

Question # 4

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

Question # 5

Real business cycle are cycles in

Question # 6

A competitive equilibrium is Pareto efficient because.

Question # 7

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

Question # 8

Injection into the circular flow are _________ and _______

Question # 9

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 10

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

Question # 11

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 12

If both Marginal cost and marginal revenue increase, a firm.

Question # 13

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

Question # 14

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 15

The business cycle describes fluctuations in output around the.

Question # 16

The AD schedule indicates that______ inflation is associated with______ output.

Question # 17

The primary function of a bank is to.

Question # 18

All of the following are type of monetary policy except

Question # 19

The most important source of wage differentiate are.

Question # 20

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

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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 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
2 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
3 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.
4 In the circular flow we would expect leakages to __________ injections.
A. equal
B. be less than
C. by greater than
D. Be less or greater than
5 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds
6 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are
7 The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
A. capital widening, technical innovation
B. Capital widening, catch up in technology
C. Capital deepening, technical innovation
D. Capital deepening, catch up technology.
8 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
9 When real income increases, other things equal we fan expect the demand for real money holdings to.
A. Fall
B. Not change
C. Increase
D. Decrease
10 Injection into the circular flow are _________ and _______
A. Consumption, investment, exports
B. Investment exports, transfer payments
C. Investment government expenditure, exports.
D. Taxes, exports, transfer payments.

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