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

The extra utility from consuming one more unit of a good is called.

Question # 2

The allocation of resources is not efficient it

Question # 3

All of the following are parts of the business cycle except.

Question # 4

A profit maximizing firm will hire labor until _______ equal the

Question # 5

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

Question # 6

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

Question # 7

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 8

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

Question # 9

The single European Act committed_ governments to a ___ in 1992

Question # 10

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 11

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 12

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Question # 13

Real GNP measures income

Question # 14

Injection into the circular flow are _________ and _______

Question # 15

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 16

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

Question # 17

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 18

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

Question # 19

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 20

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

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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 Higher export demand _______ output and a higher MPZ______ output..
A. Reduces, reduces
B. Reduces, increases
C. Increases, reduces
D. increases, increases
2 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices
3 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift
4 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
5 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
6 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality
7 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
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 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.
10 A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.
A. Reduction, increases
B. reduction,reduction
C. increase, reduction
D. increases, increases

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