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

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 2

Human capital can be described as.

Question # 3

All of the following are type of monetary policy except

Question # 4

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

Question # 5

Firms are assumed to ____ costs and to _______ profit.

Question # 6

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

Question # 7

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

Question # 8

International difference in opportunity costs lead to countries acquiring.

Question # 9

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 10

A profit maximizing firm will hire labor until _______ equal the

Question # 11

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

Question # 12

Top footballers land to earn more than lecturers because.

Question # 13

All of the following represent obstacles to LDC development except.

Question # 14

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 15

If demand is _______ then price cuts will ________ spending.

Question # 16

The main cause of different relative costs between countries are.

Question # 17

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

Question # 18

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 19

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

Question # 20

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

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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 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
2 Perfect price discrimination means that every customer.
A. Buys the same amount
B. Pays the same price
C. Pays what she thinks the product is worth
D. Contributes the same revenue.
3 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
4 If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
5 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
6 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
7 In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
8 Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.
A. Depreciation
B. Appreciation
C. fall
D. Devaluation
9 If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.
A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
10 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices

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