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

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.

Question # 2

Comparing a monopoly and a competitive firm the monopolist will.

Question # 3

Land will be allocated between competing uses so that.

Question # 4

By restricting labour supply a trade union can _________ and_______

Question # 5

A tariff causes domestic firms to __________ and consumers to

Question # 6

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

Question # 7

The business cycle is not transmitted from one country to another through.

Question # 8

In the circular flow we would expect leakages to __________ injections.

Question # 9

The opportunity cost of a good is.

Question # 10

A good example of a public good is.

Question # 11

Floating exchange rates are __ in the short run

Question # 12

Leakages from the circular flow are____ and _____

Question # 13

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

Question # 14

The equilibrium price clears the market it is the price at which.

Question # 15

The primary function of a bank is to.

Question # 16

The business cycle describes fluctuations in output around the.

Question # 17

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

Question # 18

Skilled labour is relatively scarce because.

Question # 19

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 20

The value of an asset depends upon

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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 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate
2 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
3 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ
4 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
5 Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.
A. Externality
B. Market imperfection
C. Deadweight burden
D. Free rider
6 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
7 The long run Philips curve is _________ at the ______
A. Horizontal natural rate of inflation
B. Horizontal , natural rate of unemployment
C. Vertical , natural rte of inflation
D. Vertical , equilibrium rate of unemployment.
8 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
9 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.
10 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output

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