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

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 2

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

Question # 3

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 4

A natural monopoly has a declining ________ over a large range of output.

Question # 5

The opportunity cost of acquiring education is.

Question # 6

All of the following are parts of the business cycle except.

Question # 7

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 8

The equilibrium price clears the market it is the price at which.

Question # 9

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

Question # 10

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

Question # 11

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 12

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 13

All of the following are types of imperfect competition except

Question # 14

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

Question # 15

In an open economy leakages to imports ______ the value of the multiplier.

Question # 16

Floating exchange rates are __ in the short run

Question # 17

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

Question # 18

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

Question # 19

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

Question # 20

Real business cycle are cycles 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 We cannot say whether one allocation of resources is better than another allocation because.
A. some people cant count
B. Some people may not be permanent residents
C. Not all economic activity is legal
D. We cant make value judgements to compare different people welfare.
2 A dominant strategy is.
A. A winning strategy
B. A losing strategy
C. A players best strategy when moving fist
D. a player's best strategy whatever the strategies adopted by rivals
3 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole
4 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.
A. Smaller
B. Larger
C. the same size
D. None of these
5 Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.
A. Current account
B. Interest rate
C. Tax
D. Price
6 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers
7 The impossibility of negative gross investment provides a______ to fluctuations in.
A. Celling, stock building
B. Celling, capital prices
C. floor , output
D. floor , the capital output ratio
8 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.
A. 30%
B. 10%
C. 70%
D. 40%
9 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
10 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit

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