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

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

Question # 2

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

Question # 3

A tariff causes domestic firms to __________ and consumers to

Question # 4

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 # 5

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 6

In the EMU a country's competitiveness can change because of.

Question # 7

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

Question # 8

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 9

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

Question # 10

The multiplier is calculated as.

Question # 11

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 12

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

Question # 13

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 14

Economic transition involves high inflation because ______ and _____

Question # 15

Extremality's arise because there is a divergence between ____ and _

Question # 16

Normative economics form ______ based on.

Question # 17

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

Question # 18

All of the following are benefits of the single market except.

Question # 19

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

Question # 20

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

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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 The imposition of a tariff causes consumption to _______ and imports to.
A. rise , rise
B. fall , rise
C. fall , fall
D. rise , fall
2 The primary function of a bank is to.
A. Control the money supply
B. Provide notes and coins for trade
C. Make a profit
D. Provide a chequeen clearing system.
3 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
4 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
5 The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.
A. Sun spect theory
B. Multiplier accelerator model
C. Solow theory
D. New classical theory
6 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
7 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
8 Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.
A. Deficit
B. Surplus
C. Revaluation
D. Devaluation
9 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output
10 Possible causes of involuntary unemployment are
A. Minimum wage agreements
B. Trade unions
C. Scale economies
D. All of the abvoe

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