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

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 # 2

Real GNP is a crude measure of national welfare because it excludes.

Question # 3

Economic transition involves high inflation because ______ and _____

Question # 4

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

Question # 5

Bank create money by

Question # 6

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 7

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

Question # 8

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 9

Land will be allocated between competing uses so that.

Question # 10

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 11

The business cycle is not transmitted from one country to another through.

Question # 12

The most important source of wage differentiate are.

Question # 13

A good example of a public good is.

Question # 14

Short run average total costs are equal to the sum of _______ and______

Question # 15

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

Question # 16

If a country has a burden of debt it cannot sustain it can.

Question # 17

If demand is _______ then price cuts will ________ spending.

Question # 18

The key issues of macroeconomics are

Question # 19

Economics is the study of

Question # 20

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

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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 fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
3 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality
4 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
5 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift
6 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.
7 GDP per head may be an imperfect measure of economic welfare because it excludes.
A. The value of leisure
B. Externalities
C. Untraded goods
D. All of the above
8 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
9 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
10 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

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