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

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

Question # 2

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 3

By restricting labour supply a trade union can _________ and_______

Question # 4

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

Question # 5

The opportunity cost of a student is.

Question # 6

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 7

At the intersection of AD and AS equilibrium is achieved in.

Question # 8

If desired spending in the economy exceeds income we would expect.

Question # 9

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 10

The multiplier accelerator model assumes _______ depends on.

Question # 11

The value of an asset depends upon

Question # 12

The opportunity cost of acquiring education is.

Question # 13

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 14

Perfect price discrimination means that every customer.

Question # 15

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 16

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

Question # 17

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 18

A tariff causes domestic firms to __________ and consumers to

Question # 19

The prisoners Dilemma Game demonstrates that.

Question # 20

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

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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 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
2 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
3 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
4 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
5 The level of the equilibrium exchange rate offsets international difference in.
A. Comparative advantage
B. Absolute advantage
C. Opportunity cost
D. Relative costs
6 The opportunity cost of a student is.
A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying.
D. What the student will earn after graduation.
7 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
8 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility
9 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
10 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change

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