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 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 # 2

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 3

A market can accuretaly be described as

Question # 4

Marginal revenue is the ________ when output is.

Question # 5

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 6

The imposition of a tariff causes consumption to _______ and imports to.

Question # 7

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

Question # 8

Economic transition involves high inflation because ______ and _____

Question # 9

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

Question # 10

The impossibility of negative gross investment provides a______ to fluctuations in.

Question # 11

All of the following are parts of the business cycle except.

Question # 12

The level of the equilibrium exchange rate offsets international difference in.

Question # 13

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 14

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 15

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

Question # 16

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 17

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 # 18

Efficiency wages are_______ that raise

Question # 19

Except for taxes to offset ___ taxes are.

Question # 20

a demand curve can shift because of changing.

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Economics
11th Chapter

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Sr.# Question Answer
1 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce
2 If a price increase of good A increases the quantity demanded of good B, then good B is a.
A. substitute good
B. Complementary good
C. Bargain
D. Interior good
3 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
4 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole
5 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
6 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
7 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
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 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices
10 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
11 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above
12 GDP per head may be an imperfect measure of economic welfare because it excludes.
A. The value of leisure
B. Externalities
C. Untraded goods
D. All of the above
13 We cannot say whether one allocation of resources is better than another allocation because.
A. some people cant count
B. Some people may not be permanent residents
C. Not all economic activity is legal
D. We cant make value judgements to compare different people welfare.
14 If both Marginal cost and marginal revenue increase, a firm.
A. Should increase output
B. Should reduce output
C. Will require further information on how to respond
D. should not change output
15 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
16 A supply curve is directly affected by
A. Technology
B. Input costs
C.
Government regulation
D. All of the above
17 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds
18 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
19 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
20 Economic growth may depend upon __________ and_________
A.
Population size , x -efficiency
B. Population age distribution, education
C. Population growth, education
D. Population growth, technical progress

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