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

The increase in total cost when one more units is produced is known as.

Question # 2

Injection into the circular flow are _________ and _______

Question # 3

GDP per head may be an imperfect measure of economic welfare because it excludes.

Question # 4

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 5

Top footballers land to earn more than lecturers because.

Question # 6

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 7

In the neoclassical theory of growth a higher saving rate leads to.

Question # 8

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 # 9

A competitive equilibrium is Pareto efficient because.

Question # 10

The multiplier tells us how much __________ chagnes after a shift in.

Question # 11

A straight line diagram can be drawn knowing the _______ and _____

Question # 12

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 13

The short run Philips curve can shift in response to changes in

Question # 14

Macro economics is the study of.

Question # 15

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 16

Except for taxes to offset ___ taxes are.

Question # 17

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 18

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

Question # 19

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.

Question # 20

If a price increase of good A increases the quantity demanded of good B, then good B is a.

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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 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
2 When capital mobility is perfect, interest rate differentials will tend to be offset by
A. Price differences.
B. Balance of payments differences.
C. Current account differences.
D. Expected exchange rate changes
3 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.
4 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
5 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
6 Micro economics is conceded with
A. The economy as a whole
B. The electronics industry
C. The study of individual economic behavior
D. the interactions within the entire economy
7 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.
A. a nonlinear relationship
B. A positive linear relationship
C. A scatter diagram
D. A negative linear relationship
8 The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
A. capital widening, technical innovation
B. Capital widening, catch up in technology
C. Capital deepening, technical innovation
D. Capital deepening, catch up technology.
9 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market
10 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

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