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

Economic growth may depend upon __________ and_________

Question # 2

Marginal revenue is the ________ when output is.

Question # 3

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

Question # 4

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 5

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

Question # 6

For given government spending and taxation the government budget deficit will grow in __________ and decline in _________

Question # 7

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 # 8

If demand is _______ then price cuts will ________ spending.

Question # 9

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

Question # 10

The opportunity cost of a good is.

Question # 11

If two firms doing the same thing in the same industry join together this is known as a.

Question # 12

All of the following are types of imperfect competition except

Question # 13

A good example of a public good is.

Question # 14

Market failure may arise because of.

Question # 15

The retail price index is used to.

Question # 16

Real GNP measures income

Question # 17

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 18

In a competitive industry each buyer and seller.

Question # 19

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

Question # 20

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

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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 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
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 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
4 In the EMU a country's competitiveness can change because of.
A. Interest rate adjustment
B. Central bank intervention i the forex
C. Domestic wage and price adjustment
D. Devaluations
5 The increase in total cost when one more units is produced is known as.
A. Marginal cost
B. Opportunity cost
C. Limited cost
D. Average cost
6 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
7 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
8 Leakages from the circular flow are____ and _____
A. Investment savings, government expenditure
B. Saving , taxes net of subsidies, imports
C. Consumption, investment , government expenditure.
D. Consumption, taxes, impports
9 The equilibrium price clears the market it is the price at which.
A. Everything is sold
B. Buyers spend all their money
C. Excess demand is zero
D. c and d
10 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

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