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

00:00
Question # 1

The multiplier is calculated as.

Question # 2

A competitive firm produces a level of output at which.

Question # 3

Output fell sharply in the transition economies because.

Question # 4

The extra utility from consuming one more unit of a good is called.

Question # 5

The multiplier tells us how much __________ chagnes after a shift in.

Question # 6

A straight line diagram can be drawn knowing the _______ and _____

Question # 7

The multiplier accelerator model assumes _______ depends on.

Question # 8

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

Question # 9

The main cause of different relative costs between countries are.

Question # 10

A profit maximizing firm will hire labor until _______ equal the

Question # 11

Micro economics is conceded with

Question # 12

In a competitive industry each buyer and seller.

Question # 13

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 14

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 15

Except for taxes to offset ___ taxes are.

Question # 16

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 # 17

Economic transition involves high inflation because ______ and _____

Question # 18

The AD schedule indicates that______ inflation is associated with______ output.

Question # 19

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

Question # 20

The most important source of wage differentiate are.

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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 imposition of a tariff causes consumption to _______ and imports to.
A. rise , rise
B. fall , rise
C. fall , fall
D. rise , fall
2 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
3 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
4 A person who is made redundant because of the contraction of an industry is a victim of.
A. Frictional unemployment
B. Demand deficient unemployment
C. Classical unemployment
D. Structural unemployment
5 The long run Philips curve is _________ at the ______
A. Horizontal natural rate of inflation
B. Horizontal , natural rate of unemployment
C. Vertical , natural rte of inflation
D. Vertical , equilibrium rate of unemployment.
6 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
7 The retail price index is used to.
A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above
8 A current account deficit means that a country may.
A. Reduce its stock of foreign assets
B. Increases its stock of foreign assets
C. Increases its savings
D. Increases its foreign currency reserves.
9 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%
10 The allocation of resources is not efficient it
A. The marginal cost of production does not equal society marginal benefit
B. The distribution is inequitable
C. Economic growth is low
D. Unemployment is high

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