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

The opportunity cost of acquiring education is.

Question # 2

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 3

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

Question # 4

A tariff causes domestic firms to __________ and consumers to

Question # 5

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 6

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 7

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

Question # 8

If a country has a burden of debt it cannot sustain it can.

Question # 9

We cannot say whether one allocation of resources is better than another allocation because.

Question # 10

The equilibrium price clears the market it is the price at which.

Question # 11

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 12

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 13

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

Question # 14

In linear consumption function with a positive slope less that on means that if income increase, consumption will.

Question # 15

The retail price index is used to.

Question # 16

All of the following represent obstacles to LDC development except.

Question # 17

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 18

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 19

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

Question # 20

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

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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 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
2 The equilibrium price clears the market it is the price at which.
A. Everything is sold
B. Buyers spend all their money
C. Excess demand is zero
D. c and d
3 A person who is made redundant because of the contraction of an industry is a victim of.
A. Frictional unemployment
B. Demand deficient unemployment
C. Classical unemployment
D. Structural unemployment
4 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
5 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
6 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility
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 An optimal tariff is one which reduces imports to the level at which ___ equals
A. imports , exports
B. The balance of trade, zero
C. The demand for currency, the supply of currency
D. Social marginal cost social marginal benefit
9 If two firms doing the same thing in the same industry join together this is known as a.
A. vertical merger
B. Horizontal merger
C. Conglomerate merger
D. Hostile takeover
10 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market

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