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

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Question # 1

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 2

A firm that breaks even after all economic costs are paid is earning.

Question # 3

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

Question # 4

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 5

The primary function of a bank is to.

Question # 6

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

Question # 7

Perfect price discrimination means that every customer.

Question # 8

A current account deficit means that a country may.

Question # 9

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

Question # 10

Possible causes of involuntary unemployment are

Question # 11

On a graph a positive linear relation ship.

Question # 12

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 13

A supply curve is directly affected by

Question # 14

A competitive firms demand curve is.

Question # 15

Economics is the study of

Question # 16

Short run average total costs are equal to the sum of _______ and______

Question # 17

Marginal revenue is the ________ when output is.

Question # 18

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.

Question # 19

Normative economics form ______ based on.

Question # 20

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

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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 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
2 The multiplier tells us how much __________ chagnes after a shift in.
A. Consumption, income
B. Investment , output
C. Savings, investment
D. output, aggregate demand
3 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
4 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
5 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z
6 Injection into the circular flow are _________ and _______
A. Consumption, investment, exports
B. Investment exports, transfer payments
C. Investment government expenditure, exports.
D. Taxes, exports, transfer payments.
7 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
8 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
9 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
10 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.

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