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

Skilled labour is relatively scarce because.

Question # 2

Market some times fall to exist because of.

Question # 3

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 4

All of the following are types of imperfect competition except

Question # 5

If I keep some money available in case I see a bargain this is an example of.

Question # 6

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

Question # 7

The prisoners Dilemma Game demonstrates that.

Question # 8

The opportunity cost of acquiring education is.

Question # 9

The long run Philips curve is _________ at the ______

Question # 10

All of the following represent obstacles to LDC development except.

Question # 11

Market failure may arise because of.

Question # 12

The price elasticity of demand measures

Question # 13

Comparing a monopoly and a competitive firm the monopolist will.

Question # 14

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 15

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 # 16

All of the following are type of monetary policy except

Question # 17

In the classical model, potential output can not be increased by

Question # 18

For perfect competition ot work there must be

Question # 19

Extremality's arise because there is a divergence between ____ and _

Question # 20

If two firms doing the same thing in the same industry join together this is known as 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 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
2 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.
3 The costs of inflation are
A. Shoe leather costs
B. Menu costs
C. Income redistribution
D. All of the above
4 Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.
A. Keynesian polices
B. Supply side policies
C. Monetarist policies
D. Classical policies
5 A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
6 When we know the quantity of a product that buyers wish to purchases at each possible price we know.
A. Demand
B. Supply
C. excess demand
D. Excess supply
7 The level of the equilibrium exchange rate offsets international difference in.
A. Comparative advantage
B. Absolute advantage
C. Opportunity cost
D. Relative costs
8 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
9 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
10 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output

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