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

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Question # 1

By restricting labour supply a trade union can _________ and_______

Question # 2

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

Question # 3

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

Question # 4

Economics assumes that people consume goods and services to achieve.

Question # 5

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 6

A production technique is technically efficient if.

Question # 7

a demand curve can shift because of changing.

Question # 8

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 9

In the circular flow we would expect leakages to __________ injections.

Question # 10

The opportunity cost of a student is.

Question # 11

Market failure may arise because of.

Question # 12

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 13

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 14

In linear consumption function with a positive slope less that on means that if income increase, consumption will.

Question # 15

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 16

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

Question # 17

If I keep some money available in case I see a bargain this is an example of.

Question # 18

Economic growth may depend upon __________ and_________

Question # 19

Human capital can be described as.

Question # 20

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

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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 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase
2 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output
3 Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.
A. Keynesian polices
B. Supply side policies
C. Monetarist policies
D. Classical policies
4 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%
5 The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.
A. Reduce, reduce
B. increase, increase
C. Increase , reduce
D. reduce, increase
6 One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.
A. rise, increases, increases
B. rise, falls, increases
C. rise, increases, falls
D. rise, falls, falls
7 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.
8 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output
9 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above
10 A competitive equilibrium is Pareto efficient because.
A. Producers are price takers
B. Consumers and producer's face the same prices
C. Marginal costs and benefits are equal
D. All of the above

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