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

A market can accuretaly be described as

Question # 2

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 3

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

Question # 4

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 5

On a graph a positive linear relation ship.

Question # 6

The multiplier is calculated as.

Question # 7

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 8

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 9

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

Question # 10

Possible causes of involuntary unemployment are

Question # 11

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

Question # 12

Micro economics is conceded with

Question # 13

A tariff causes domestic firms to __________ and consumers to

Question # 14

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 # 15

Normative economics form ______ based on.

Question # 16

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

Question # 17

In the UK under a _________ of the labour force belong to a trade union.

Question # 18

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

Question # 19

The increase in total cost when one more units is produced is known as.

Question # 20

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

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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 short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
2 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.
A. Private good
B. Merit good
C. Public good
D. Abundant good
3 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility
4 In the UK in recent years, union membership has ______ and days of work lost because of strikes has.
A. Grown, declined
B. declined, declined
C. declined, grown
D. grown , grown
5 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
6 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
7 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
8 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
9 An optimal tariff is one which reduces imports to the level at which ___ equals
A. imports , exports
B. The balance of trade, zero
C. The demand for currency, the supply of currency
D. Social marginal cost social marginal benefit
10 When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.
A. Behave like competitive firms
B. Agree to act together
C. Differentiate their products
D. Practice price discrimination

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