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

Real business cycle are cycles in

Question # 2

The firms long run output decision will be where.

Question # 3

Market some times fall to exist because of.

Question # 4

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

Question # 5

The costs of inflation are

Question # 6

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 # 7

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 8

Economic transition involves high inflation because ______ and _____

Question # 9

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 # 10

When we refer to the hidden economy we mean unrecorded income owing to.

Question # 11

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 12

A firm that breaks even after all economic costs are paid is earning.

Question # 13

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

Question # 14

A supply curve is directly affected by

Question # 15

The primary function of a bank is to.

Question # 16

In Nash equilibrium each player chooses the best strategy.

Question # 17

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 18

The main cause of different relative costs between countries are.

Question # 19

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

Question # 20

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

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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 An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.
A. Reduce , reduce
B. Reduce , increase
C. Increased, increased
D. Increases, reduces
2 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.
3 In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.
A. A nominal exchange rate, floated
B. A real exchange rate, pegged
C. a purchasing power parity, pegged
D. a real exchange rate, floated
4 Except for taxes to offset ___ taxes are.
A. Imperfect competition , popular
B. Extremality's, distortionary
C. Inequality, a first best option
D. Poor health, unnecessary
5 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
6 If I keep some money available in case I see a bargain this is an example of.
A. Asset demand for money
B. Transactions demand for money
C. Token demand for money
D. Precautionary demand for money
7 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
8 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z
9 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate
10 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets

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