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

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Question # 1

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

Question # 2

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

Question # 3

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 4

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 5

Nominal GNP measures income

Question # 6

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 7

The value of an asset depends upon

Question # 8

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 9

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

Question # 10

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 # 11

Leakages from the circular flow are____ and _____

Question # 12

Possible causes of involuntary unemployment are

Question # 13

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

Question # 14

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 15

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

Question # 16

All of the following represent obstacles to LDC development except.

Question # 17

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

Question # 18

The AD schedule indicates that______ inflation is associated with______ output.

Question # 19

The multiplier accelerator model assumes _______ depends on.

Question # 20

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

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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 In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
2 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
3 the Maastricht criteria for entry to the EMU are that applicants should have
A. Low inflation
B. Low interest rates
C. Stable nominal exchange rate
D. All of the above
4 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
5 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
6 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
7 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
8 In the short run the level of floating exchange rates is determined mainly by.
A. Interest rates
B. Competitiveness
C. Trade
D. Speculation
9 Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.
A. Current account
B. Interest rate
C. Tax
D. Price
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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