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

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

Question # 2

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 3

A profit maximizing firm will hire labor until _______ equal the

Question # 4

The main cause of different relative costs between countries are.

Question # 5

The impossibility of negative gross investment provides a______ to fluctuations in.

Question # 6

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

Question # 7

The key issues of macroeconomics are

Question # 8

The allocation of resources is not efficient it

Question # 9

For perfect competition ot work there must be

Question # 10

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

Question # 11

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

Question # 12

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 13

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 14

If demand is _______ then price cuts will ________ spending.

Question # 15

Economics assumes that people consume goods and services to achieve.

Question # 16

Potential output can be increased by _________ or by_________

Question # 17

If the MPC is 0.5 the multiplier is

Question # 18

Real GNP measures income

Question # 19

In the EMU a country's competitiveness can change because of.

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

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 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.
2 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
3 the Maastricht criteria for entry to the EMU are that applicants should have
A. Low inflation
B. Low interest rates
C. Stable nominal exchange rate
D. All of the above
4 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
5 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices
6 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
7 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
8 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
9 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
10 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above

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