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

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 # 2

A competitive equilibrium is Pareto efficient because.

Question # 3

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 4

A competitive firms demand curve is.

Question # 5

If a country has a burden of debt it cannot sustain it can.

Question # 6

The real value can be derived from a nominal value by

Question # 7

A production technique is technically efficient if.

Question # 8

For perfect competition ot work there must be

Question # 9

If a long average cost rises, output rises from left to right this is an example of.

Question # 10

Human capital can be described as.

Question # 11

A competitive firm produces a level of output at which.

Question # 12

Short run equilibrium output means that aggregate demand _ actual output

Question # 13

Potential output can be increased by _________ or by_________

Question # 14

By restricting labour supply a trade union can _________ and_______

Question # 15

Market failure may arise because of.

Question # 16

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

Question # 17

International difference in opportunity costs lead to countries acquiring.

Question # 18

The multiplier is calculated as.

Question # 19

If the MPC is 0.5 the multiplier is

Question # 20

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

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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 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.
2 Short run average total costs are equal to the sum of _______ and______
A. Short run opportunity costs, profit
B. Short run average variable costs, profit
C. short run average variable costs, profit.
D. Short run average variable costs short run average fixed costs
3 A rise in the real exchange rate will __ the competitiveness of the domestic economy.
A. Increase
B. reduce
C. do nothing do
D. all of these
4 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
5 Fiscal policy is weak under floating exchange rates as fiscal expansion.
A. Crowds out imports
B. Crowds out public consumption
C. Crowds out exports
D. Reduces the budget deficit
6 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit
7 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
8 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
9 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
10 A natural monopoly has a declining ________ over a large range of output.
A. Long run marginal cost
B. Short run marginal cost
C. Long run average cost
D. Long run marginal cost

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