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

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

Question # 2

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

Question # 3

Leakages from the circular flow are____ and _____

Question # 4

In the UK under a _________ of the labour force belong to a trade union.

Question # 5

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 6

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 7

Higher export demand _______ output and a higher MPZ______ output..

Question # 8

The price elasticity of demand measures

Question # 9

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

Question # 10

The multiplier is calculated as.

Question # 11

International specialization takes place because of.

Question # 12

All of the following are types of imperfect competition except

Question # 13

The key issues of macroeconomics are

Question # 14

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

Question # 15

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 16

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 17

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

Question # 18

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 19

The value of an asset depends upon

Question # 20

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

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

Here you can prepare PPSC Economics Chapter 11 (Assess Your Basics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 A supply curve is directly affected by
A. Technology
B. Input costs
C.
Government regulation
D. All of the above
2 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
3 The retail price index is used to.
A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above
4 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
5 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.
6 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
7 In the UK in recent years, union membership has ______ and days of work lost because of strikes has.
A. Grown, declined
B. declined, declined
C. declined, grown
D. grown , grown
8 A fall in investment demand can result from
A. Higher interest rates
B. Lower expected future profits
C. More expensive capital goods
D. All of the above
9 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
10 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift

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