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

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

Question # 2

All of the following are types of imperfect competition except

Question # 3

If the MPC is 0.5 the multiplier is

Question # 4

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 5

Real GNP measures income

Question # 6

International difference in opportunity costs lead to countries acquiring.

Question # 7

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

Question # 8

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 9

All of the following represent obstacles to LDC development except.

Question # 10

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

Question # 11

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

Question # 12

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

Question # 13

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 14

The allocation of resources is not efficient it

Question # 15

The opportunity cost of a student is.

Question # 16

Marginal revenue is the ________ when output is.

Question # 17

Higher export demand _______ output and a higher MPZ______ output..

Question # 18

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

Question # 19

The retail price index is used to.

Question # 20

If both Marginal cost and marginal revenue increase, a firm.

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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 If some body is prepared to work at the going wage rate but cannot find work than they are victims of.
A. Voluntary unemployment
B. Classical unemployment
C. Frictional unemployment.
D. All of the above
3 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above
4 One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.
A. rise, increases, increases
B. rise, falls, increases
C. rise, increases, falls
D. rise, falls, falls
5 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
6 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around
7 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
8 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
9 In the short run the level of floating exchange rates is determined mainly by.
A. Interest rates
B. Competitiveness
C. Trade
D. Speculation
10 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

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