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

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

Question # 2

Short run equilibrium output means that aggregate demand _ actual output

Question # 3

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

Question # 4

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

Question # 5

Injection into the circular flow are _________ and _______

Question # 6

A monopoly may be self perpetuating because profits may be used for

Question # 7

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

Question # 8

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 9

A competitive equilibrium is Pareto efficient because.

Question # 10

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Question # 11

If both Marginal cost and marginal revenue increase, a firm.

Question # 12

The cost of using capital services is the

Question # 13

The total multiplier for the economy will reflect.

Question # 14

A current account deficit means that a country may.

Question # 15

Floating exchange rates are __ in the short run

Question # 16

The costs of inflation are

Question # 17

The retail price index is used to.

Question # 18

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

Question # 19

Nominal GNP measures income

Question # 20

A natural monopoly has a declining ________ over a large range of output.

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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 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.
A. Decreasing returns to scale
B. The law of diminishing returns
C. Constant returns to scale
D. an inefficient production technique
2 M4 is a _________ measures of money and includes deposits at both _____________ and
A. Narrow, banks, building societies
B. Wide, banks, insurance companies
C. narrow, banks, insurance companies
D. Wide, banks, building societies.
3 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
4 All of the following are parts of the business cycle except.
A. Boom
B. slump
C. Recovery
D. Acceleration
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 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
7 Real GNP measures income
A. Including non market activities
B. Adjusted for inflation
C. Including externalities
D. Including tax evasion
8 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
9 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices
10 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society

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