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 equilibrium price clears the market it is the price at which.

Question # 2

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 # 3

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 4

International specialization takes place because of.

Question # 5

A competitive equilibrium is Pareto efficient because.

Question # 6

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 7

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Question # 8

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 # 9

In an open economy leakages to imports ______ the value of the multiplier.

Question # 10

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

Question # 11

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

Question # 12

The opportunity cost of a good is.

Question # 13

The total multiplier for the economy will reflect.

Question # 14

In Nash equilibrium each player chooses the best strategy.

Question # 15

Bank create money by

Question # 16

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

Question # 17

The main cause of different relative costs between countries are.

Question # 18

A dominant strategy is.

Question # 19

The most important source of wage differentiate are.

Question # 20

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

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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 In the short run the level of floating exchange rates is determined mainly by.
A. Interest rates
B. Competitiveness
C. Trade
D. Speculation
2 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
3 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
4 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
5 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.
6 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
7 M4 is a _________ measures of money and includes deposits at both _____________ and
A. Narrow, banks, building societies
B. Wide, banks, insurance companies
C. narrow, banks, insurance companies
D. Wide, banks, building societies.
8 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
9 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
10 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

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