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

00:00
Question # 1

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Question # 2

In the circular flow we would expect leakages to __________ injections.

Question # 3

Real GNP is a crude measure of national welfare because it excludes.

Question # 4

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

Question # 5

Potential output can be increased by _________ or by_________

Question # 6

All of the following are types of imperfect competition except

Question # 7

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 8

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 9

Economics is the study of

Question # 10

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 11

International specialization takes place because of.

Question # 12

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 # 13

Comparing a monopoly and a competitive firm the monopolist will.

Question # 14

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

Question # 15

In a competitive industry each buyer and seller.

Question # 16

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 17

Market some times fall to exist because of.

Question # 18

All of the following are type of monetary policy except

Question # 19

In the short run the level of floating exchange rates is determined mainly by.

Question # 20

Perfect price discrimination means that every customer.

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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 demand is _______ then price cuts will ________ spending.
A. Inelastic, increase
B. Elastic, increase
C. Elastic, decreases
D. None of the above
2 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.
3 Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
A. Marginal costs, marginal benefits
B. Demand, supply
C. Marginal cost, marginal revenue
D. Marginal cost, average cost
4 If a price increase of good A increases the quantity demanded of good B, then good B is a.
A. substitute good
B. Complementary good
C. Bargain
D. Interior good
5 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
6 Aggregate demand without a foreign sector is the sum of.
A. c+1
B. C+G
C. 1+G
D. C+!+G
7 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
8 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
9 The retail price index is used to.
A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above
10 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other

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