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

The business cycle describes fluctuations in output around the.

Question # 2

Floating exchange rates are __ in the short run

Question # 3

A good example of a public good is.

Question # 4

International specialization takes place because of.

Question # 5

All of the following are type of monetary policy except

Question # 6

Perfect price discrimination means that every customer.

Question # 7

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

Question # 8

Real GNP is a crude measure of national welfare because it excludes.

Question # 9

Short run equilibrium output means that aggregate demand _ actual output

Question # 10

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

Question # 11

A profit maximizing firm will hire labor until _______ equal the

Question # 12

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

Question # 13

A dominant strategy is.

Question # 14

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

Question # 15

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 16

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 17

Economic growth may depend upon __________ and_________

Question # 18

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 19

If two firms doing the same thing in the same industry join together this is known as a.

Question # 20

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

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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 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market
2 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
3 Market some times fall to exist because of.
A. Externalities
B. the free rider problem
C. Poor transport
D. a an b
4 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.
5 If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.
A. Rise
B. fall
C. not changes
D. fluctuate
6 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
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 The opportunity cost of acquiring education is.
A. Course fees
B. Course fees and living expenses
C. The earning foregone
D. Course fees, living expenses and textbooks
9 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
10 The prisoners Dilemma Game demonstrates that.
A. Players are better off to act independently
B. Monopoly is better than competition
C. People will always cheat
D. Players are better off if they con operate

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