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

A competitive firm produces a level of output at which.

Question # 2

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 3

Land will be allocated between competing uses so that.

Question # 4

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

Question # 5

LDC's often have a comparative advantage in the production of.

Question # 6

A good example of a public good is.

Question # 7

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

Question # 8

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 9

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 10

Economics assumes that people consume goods and services to achieve.

Question # 11

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 12

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.

Question # 13

The total multiplier for the economy will reflect.

Question # 14

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 15

The value of an asset depends upon

Question # 16

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

Question # 17

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

Question # 18

The participation rate in the labour force is affected by

Question # 19

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

Question # 20

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

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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 Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.
A. Deficit
B. Surplus
C. Revaluation
D. Devaluation
2 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
3 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices
4 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.
5 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%
6 When investment is assumed to autonomous the slope of the AD schedule is determined by the.
A. Marginal propensity to invest.
B. disposable income
C. Marginal propensity to consume
D. Average properisity to consume
7 The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.
A. Saving investment
B. Capital per person productivity
C. Labour growth , output
D. Investment capital per person
8 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.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
9 In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.
A. 15%
B. 20%
C. 25%
D. 30%
10 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero

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