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 extra utility from consuming one more unit of a good is called.

Question # 2

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 3

The value of an asset depends upon

Question # 4

Economic transition involves high inflation because ______ and _____

Question # 5

In the circular flow we would expect leakages to __________ injections.

Question # 6

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

Question # 7

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

Question # 8

If two firms doing the same thing in the same industry join together this is known as a.

Question # 9

Short run average total costs are equal to the sum of _______ and______

Question # 10

Land will be allocated between competing uses so that.

Question # 11

The real value can be derived from a nominal value by

Question # 12

Micro economics is conceded with

Question # 13

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

Question # 14

Top footballers land to earn more than lecturers because.

Question # 15

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

Question # 16

The business cycle is not transmitted from one country to another through.

Question # 17

A profit maximizing firm will hire labor until _______ equal the

Question # 18

International difference in opportunity costs lead to countries acquiring.

Question # 19

Perfect price discrimination means that every customer.

Question # 20

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

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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 Normative economics form ______ based on.
A. Positive statements facts
B. Opinions, personal values
C. Positive statements values
D. Opinions facts
2 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
3 The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.
A. Reduce, reduce
B. increase, increase
C. Increase , reduce
D. reduce, increase
4 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
5 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
6 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
7 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.
8 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around
9 Aggregate demand without a foreign sector is the sum of.
A. c+1
B. C+G
C. 1+G
D. C+!+G
10 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase

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