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

Land will be allocated between competing uses so that.

Question # 2

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

Question # 3

A dominant strategy is.

Question # 4

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 5

Economics assumes that people consume goods and services to achieve.

Question # 6

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 7

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

Question # 8

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

Question # 9

The multiplier is calculated as.

Question # 10

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

Question # 11

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.

Question # 12

Leakages from the circular flow are____ and _____

Question # 13

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

Question # 14

The Philips curve shows the trade off between ________ and _____

Question # 15

Real GNP measures income

Question # 16

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 17

If a long average cost rises, output rises from left to right this is an example of.

Question # 18

Economic growth may depend upon __________ and_________

Question # 19

All of the following represent obstacles to LDC development except.

Question # 20

In an open economy leakages to imports ______ the value of the multiplier.

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Economics
11th Chapter

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Sr.# Question Answer
1 If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.
A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
2 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
3 The cost of using capital services is the
A. wage rate of capital
B. Interest charges
C. Marginal capital cost
D. Rental rate for capital
4 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around
5 Women and non whiles on average receive lower comes than white men because.
A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above
6 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
7 Efficiency wages are_______ that raise
A. Low wages , employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment
8 A competitive equilibrium is Pareto efficient because.
A. Producers are price takers
B. Consumers and producer's face the same prices
C. Marginal costs and benefits are equal
D. All of the above
9 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift
10 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
11 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
12 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
13 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
14 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ
15 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
16 Comparing a monopoly and a competitive firm the monopolist will.
A. Produce less at a lower price
B. Produce more at a lower price
C. Produce less at a higher price
D. Produce less at a lower price
17 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
18 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.
A. Smaller
B. Larger
C. the same size
D. None of these
19 Human capital can be described as.
A. The tools used by workers to entrances productivity
B. a persons inherited abilities.
C. The stock of expertise accumulated by a worker
D. Education
20 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper

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