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

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

Question # 2

International specialization takes place because of.

Question # 3

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 4

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

Question # 5

Short run equilibrium output means that aggregate demand _ actual output

Question # 6

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 7

A profit maximizing firm will hire labor until _______ equal the

Question # 8

A current account deficit means that a country may.

Question # 9

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 10

By restricting labour supply a trade union can _________ and_______

Question # 11

Possible causes of involuntary unemployment are

Question # 12

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 13

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 14

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

Question # 15

If demand is _______ then price cuts will ________ spending.

Question # 16

The costs of inflation are

Question # 17

A monopoly may be self perpetuating because profits may be used for

Question # 18

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 19

Perfect price discrimination means that every customer.

Question # 20

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

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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 If demand is _______ then price cuts will ________ spending.
A. Inelastic, increase
B. Elastic, increase
C. Elastic, decreases
D. None of the above
2 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
3 Higher export demand _______ output and a higher MPZ______ output..
A. Reduces, reduces
B. Reduces, increases
C. Increases, reduces
D. increases, increases
4 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
5 Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.
A. Externality
B. Market imperfection
C. Deadweight burden
D. Free rider
6 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
7 A competitive equilibrium is Pareto efficient because.
A. Producers are price takers
B. Consumers and producer's face the same prices
C. Marginal costs and benefits are equal
D. All of the above
8 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z
9 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
10 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

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