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

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

Question # 2

By restricting labour supply a trade union can _________ and_______

Question # 3

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 4

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

Question # 5

Bank create money by

Question # 6

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.

Question # 7

Market failure may arise because of.

Question # 8

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Question # 9

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 10

A dominant strategy is.

Question # 11

If the MPC is 0.5 the multiplier is

Question # 12

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 13

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 14

A current account deficit means that a country may.

Question # 15

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 16

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 17

A fall in investment demand can result from

Question # 18

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 19

The prisoners Dilemma Game demonstrates that.

Question # 20

Firms are assumed to ____ costs and to _______ profit.

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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 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds
2 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality
3 If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.
A. 30%
B. 10%
C. 70%
D. 40%
4 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
5 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output
6 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
7 The value of an asset depends upon
A. Its scrap value
B. Its depreciation
C. The present value of the failure stream of income it can earn.
D. the cost of loans
8 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
9 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.
10 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates

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