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

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 2

The prisoners Dilemma Game demonstrates that.

Question # 3

All of the following are benefits of the single market except.

Question # 4

A current account deficit means that a country may.

Question # 5

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

Question # 6

Comparing a monopoly and a competitive firm the monopolist will.

Question # 7

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

Question # 8

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 9

Skilled labour is relatively scarce because.

Question # 10

Normative economics form ______ based on.

Question # 11

A production technique is technically efficient if.

Question # 12

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

Question # 13

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

Question # 14

In a free market

Question # 15

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

Question # 16

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 17

Nominal GNP measures income

Question # 18

All of the following are types of imperfect competition except

Question # 19

On a graph a positive linear relation ship.

Question # 20

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

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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 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
2 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.
A. Rise
B. fall
C. not changes
D. fluctuate
3 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
4 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
5 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
6 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above
7 Normative economics form ______ based on.
A. Positive statements facts
B. Opinions, personal values
C. Positive statements values
D. Opinions facts
8 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
9 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
10 If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.
A. a nonlinear relationship
B. A positive linear relationship
C. A scatter diagram
D. A negative linear relationship

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