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

00:00
Question # 1

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 2

Normative economics form ______ based on.

Question # 3

Real business cycle are cycles in

Question # 4

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

Question # 5

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 # 6

The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____

Question # 7

A supply curve is directly affected by

Question # 8

In Nash equilibrium each player chooses the best strategy.

Question # 9

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 10

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 11

The multiplier is calculated as.

Question # 12

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 13

If banks and the private sector decide to hold less cash the money multiplier will be.

Question # 14

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 15

The retail price index is used to.

Question # 16

Output fell sharply in the transition economies because.

Question # 17

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

Question # 18

The level of the equilibrium exchange rate offsets international difference in.

Question # 19

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

Question # 20

Bank create money by

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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 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
2 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce
3 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
4 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ
5 Government may contribute to inflationary pressure on account of building up large.
A. Numbers of employees
B. Welfare plans
C. Budget deficits
D. Expenditure.
6 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
7 If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.
A. Inflation
B. A supply shocks
C. Crowding out
D. Inflation illusion
8 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
9 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.
10 When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.
A. Behave like competitive firms
B. Agree to act together
C. Differentiate their products
D. Practice price discrimination

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