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

Top footballers land to earn more than lecturers because.

Question # 2

For perfect competition ot work there must be

Question # 3

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 4

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.

Question # 5

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

Question # 6

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 7

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

Question # 8

Marginal revenue is the ________ when output is.

Question # 9

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

Question # 10

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 11

The costs of inflation are

Question # 12

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 # 13

A current account deficit means that a country may.

Question # 14

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

Question # 15

The Philips curve shows the trade off between ________ and _____

Question # 16

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 17

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

Question # 18

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

Question # 19

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 20

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

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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 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
2 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change
3 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit
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.
A. 30%
B. 10%
C. 70%
D. 40%
5 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
6 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
7 All of the following are parts of the business cycle except.
A. Boom
B. slump
C. Recovery
D. Acceleration
8 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
9 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.
10 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are

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