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

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

Question # 2

A profit maximizing firm will hire labor until _______ equal the

Question # 3

The most important source of wage differentiate are.

Question # 4

A competitive firms demand curve is.

Question # 5

The primary function of a bank is to.

Question # 6

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 # 7

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

Question # 8

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 9

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

Question # 10

The business cycle describes fluctuations in output around the.

Question # 11

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

Question # 12

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 13

A natural monopoly has a declining ________ over a large range of output.

Question # 14

The multiplier is calculated as.

Question # 15

If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.

Question # 16

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 17

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

Question # 18

The increase in total cost when one more units is produced is known as.

Question # 19

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 20

Aggregate demand without a foreign sector is the sum of.

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Economics
11th Chapter

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Sr.# Question Answer
1 The multiplier is calculated as.
A. 1(1-MPC)
B. 1/MPS
C. 1/MPC
D. a or b
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 Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
A. Marginal costs, marginal benefits
B. Demand, supply
C. Marginal cost, marginal revenue
D. Marginal cost, average cost
4 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
5 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
6 The business cycle is not transmitted from one country to another through.
A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labour supply changes
7 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
8 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
9 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
10 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20

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