PPSC Economics Topic 11 MCQS Test Preparation

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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

Efficiency wages are_______ that raise

Question # 2

Potential output can be increased by _________ or by_________

Question # 3

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 4

International specialization takes place because of.

Question # 5

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

Question # 6

A current account deficit means that a country may.

Question # 7

A profit maximizing firm will hire labor until _______ equal the

Question # 8

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 9

A competitive firm produces a level of output at which.

Question # 10

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

Question # 11

Human capital can be described as.

Question # 12

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

Question # 13

The opportunity cost of a good is.

Question # 14

a demand curve can shift because of changing.

Question # 15

Firms are assumed to ____ costs and to _______ profit.

Question # 16

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

Question # 17

The primary function of a bank is to.

Question # 18

Government may contribute to inflationary pressure on account of building up large.

Question # 19

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

Question # 20

Output fell sharply in the transition economies because.

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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 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
2 Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
A. Marginal costs, marginal benefits
B. Demand, supply
C. Marginal cost, marginal revenue
D. Marginal cost, average cost
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 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
5 If I keep some money available in case I see a bargain this is an example of.
A. Asset demand for money
B. Transactions demand for money
C. Token demand for money
D. Precautionary demand for money
6 Economic growth may depend upon __________ and_________
A.
Population size , x -efficiency
B. Population age distribution, education
C. Population growth, education
D. Population growth, technical progress
7 In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.
A. 15%
B. 20%
C. 25%
D. 30%
8 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
9 Efficiency wages are_______ that raise
A. Low wages , employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment
10 If both Marginal cost and marginal revenue increase, a firm.
A. Should increase output
B. Should reduce output
C. Will require further information on how to respond
D. should not change output

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