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

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 2

The price elasticity of demand measures

Question # 3

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 4

The value of an asset depends upon

Question # 5

All of the following are benefits of the single market except.

Question # 6

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

Question # 7

Macro economics is the study of.

Question # 8

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

Question # 9

Normative economics form ______ based on.

Question # 10

A monopoly may be self perpetuating because profits may be used for

Question # 11

In a free market

Question # 12

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

Question # 13

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

Question # 14

A competitive firms demand curve is.

Question # 15

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

Question # 16

If desired spending in the economy exceeds income we would expect.

Question # 17

Injection into the circular flow are _________ and _______

Question # 18

The level of the equilibrium exchange rate offsets international difference in.

Question # 19

A market can accuretaly be described as

Question # 20

In the classical model, potential output can not be increased by

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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 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%
2 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
3 Real GNP is a crude measure of national welfare because it excludes.
A. Consumption
B. Investment
C. Export's
D. work in the home
4 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
5 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
6 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
7 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
8 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
9 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
10 With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.
A. Increased
B. Unaffected
C. Reduced
D. All of the above

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