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

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

Question # 2

Market some times fall to exist because of.

Question # 3

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

Question # 4

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

Question # 5

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

Question # 6

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 7

If demand is _______ then price cuts will ________ spending.

Question # 8

Possible causes of involuntary unemployment are

Question # 9

Leakages from the circular flow are____ and _____

Question # 10

A supply curve is directly affected by

Question # 11

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

Question # 12

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

Question # 13

Floating exchange rates are __ in the short run

Question # 14

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

Question # 15

A monopoly may be self perpetuating because profits may be used for

Question # 16

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

Question # 17

The business cycle describes fluctuations in output around the.

Question # 18

Potential output can be increased by _________ or by_________

Question # 19

The opportunity cost of a good is.

Question # 20

Skilled labour is relatively scarce 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 key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
2 A natural monopoly has a declining ________ over a large range of output.
A. Long run marginal cost
B. Short run marginal cost
C. Long run average cost
D. Long run marginal cost
3 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
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 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
6 The main cause of different relative costs between countries are.
A. Relative factors competition
B. Relative factor mobility
C. Relative factor substitution
D. Relative factor endowments
7 The opportunity cost of acquiring education is.
A. Course fees
B. Course fees and living expenses
C. The earning foregone
D. Course fees, living expenses and textbooks
8 The prisoners Dilemma Game demonstrates that.
A. Players are better off to act independently
B. Monopoly is better than competition
C. People will always cheat
D. Players are better off if they con operate
9 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other
10 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero

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