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

Economic transition involves high inflation because ______ and _____

Question # 2

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 3

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 4

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

Question # 5

A profit maximizing firm will hire labor until _______ equal the

Question # 6

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 7

A competitive equilibrium is Pareto efficient because.

Question # 8

Skilled labour is relatively scarce because.

Question # 9

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

Question # 10

In a free market

Question # 11

Marginal revenue is the ________ when output is.

Question # 12

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

Question # 13

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.

Question # 14

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 15

The costs of inflation are

Question # 16

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

Question # 17

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

Question # 18

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 19

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

Question # 20

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

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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 The cost of using capital services is the
A. wage rate of capital
B. Interest charges
C. Marginal capital cost
D. Rental rate for capital
2 The primary function of a bank is to.
A. Control the money supply
B. Provide notes and coins for trade
C. Make a profit
D. Provide a chequeen clearing system.
3 A fall in investment demand can result from
A. Higher interest rates
B. Lower expected future profits
C. More expensive capital goods
D. All of the above
4 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
5 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change
6 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
7 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
8 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
9 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
10 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around

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