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

The most important source of wage differentiate are.

Question # 2

All of the following represent obstacles to LDC development except.

Question # 3

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 4

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 # 5

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

Question # 6

Injection into the circular flow are _________ and _______

Question # 7

A fall in investment demand can result from

Question # 8

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 9

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 10

The multiplier tells us how much __________ chagnes after a shift in.

Question # 11

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

Question # 12

Nominal GNP measures income

Question # 13

The increase in total cost when one more units is produced is known as.

Question # 14

A production technique is technically efficient if.

Question # 15

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

Question # 16

The primary function of a bank is to.

Question # 17

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

Question # 18

Economics is the study of

Question # 19

Short run equilibrium output means that aggregate demand _ actual output

Question # 20

A profit maximizing firm will hire labor until _______ equal the

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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 The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
A. capital widening, technical innovation
B. Capital widening, catch up in technology
C. Capital deepening, technical innovation
D. Capital deepening, catch up technology.
2 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
3 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
4 The multiplier is calculated as.
A. 1(1-MPC)
B. 1/MPS
C. 1/MPC
D. a or b
5 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
6 All of the following are parts of the business cycle except.
A. Boom
B. slump
C. Recovery
D. Acceleration
7 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
8 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase
9 The long run Philips curve is _________ at the ______
A. Horizontal natural rate of inflation
B. Horizontal , natural rate of unemployment
C. Vertical , natural rte of inflation
D. Vertical , equilibrium rate of unemployment.
10 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

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