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

00:00
Question # 1

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 2

Possible causes of involuntary unemployment are

Question # 3

If both Marginal cost and marginal revenue increase, a firm.

Question # 4

Economic transition involves high inflation because ______ and _____

Question # 5

Macro economics is the study of.

Question # 6

All of the following are types of imperfect competition except

Question # 7

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

Question # 8

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

Question # 9

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

Question # 10

In the short run the level of floating exchange rates is determined mainly by.

Question # 11

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 12

The price elasticity of demand measures

Question # 13

In Nash equilibrium each player chooses the best strategy.

Question # 14

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

Question # 15

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 16

By restricting labour supply a trade union can _________ and_______

Question # 17

Economic growth may depend upon __________ and_________

Question # 18

The opportunity cost of acquiring education is.

Question # 19

The multiplier accelerator model assumes _______ depends on.

Question # 20

A profit maximizing firm will hire labor until _______ equal the

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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 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
2 An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.
A. Reduce , reduce
B. Reduce , increase
C. Increased, increased
D. Increases, reduces
3 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.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
4 If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
5 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.
6 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
7 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
8 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
9 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
10 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

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