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

The opportunity cost of a good is.

Question # 2

A good example of a public good is.

Question # 3

a demand curve can shift because of changing.

Question # 4

All of the following represent obstacles to LDC development except.

Question # 5

In the UK under a _________ of the labour force belong to a trade union.

Question # 6

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

Question # 7

The cost of using capital services is the

Question # 8

GDP per head may be an imperfect measure of economic welfare because it excludes.

Question # 9

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

Question # 10

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

Question # 11

If I keep some money available in case I see a bargain this is an example of.

Question # 12

The opportunity cost of a student is.

Question # 13

The short run Philips curve can shift in response to changes in

Question # 14

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.

Question # 15

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

Question # 16

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 17

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 18

The primary function of a bank is to.

Question # 19

A profit maximizing firm will hire labor until _______ equal the

Question # 20

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.

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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 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change
2 A supply curve is directly affected by
A. Technology
B. Input costs
C.
Government regulation
D. All of the above
3 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit
4 With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.
A. Increased
B. Unaffected
C. Reduced
D. All of the above
5 Marginal revenue is the ________ when output is.
A. Change in average revenue, inversed.
B. change in total revenue, increased by one unit
C. change in average revenue, increased by one unit
D. Change in total revenue, incresed.
6 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
7 If a price increase of good A increases the quantity demanded of good B, then good B is a.
A. substitute good
B. Complementary good
C. Bargain
D. Interior good
8 Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.
A. Keynesian polices
B. Supply side policies
C. Monetarist policies
D. Classical policies
9 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
10 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

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