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 market can accuretaly be described as

Question # 2

Aggregate demand without a foreign sector is the sum of.

Question # 3

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

Question # 4

In the classical model, potential output can not be increased by

Question # 5

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 6

The level of the equilibrium exchange rate offsets international difference in.

Question # 7

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 8

A straight line diagram can be drawn knowing the _______ and _____

Question # 9

On a graph a positive linear relation ship.

Question # 10

The short run Philips curve can shift in response to changes in

Question # 11

Floating exchange rates are __ in the short run

Question # 12

International difference in opportunity costs lead to countries acquiring.

Question # 13

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

Question # 14

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 15

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 16

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 17

Economics assumes that people consume goods and services to achieve.

Question # 18

The retail price index is used to.

Question # 19

If both Marginal cost and marginal revenue increase, a firm.

Question # 20

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

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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 A market can accuretaly be described as
A. A place to buy things
B. a place to sell things
C. The process by which prices adjust to reconcile the allocation of resources
D. a place where buyers and sellers meet.
2 The opportunity cost of a student is.
A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying.
D. What the student will earn after graduation.
3 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
4 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
5 If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
6 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
7 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
8 The main cause of different relative costs between countries are.
A. Relative factors competition
B. Relative factor mobility
C. Relative factor substitution
D. Relative factor endowments
9 The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.
A. Reduce, reduce
B. increase, increase
C. Increase , reduce
D. reduce, increase
10 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

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