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

The single European Act committed_ governments to a ___ in 1992

Question # 2

Market failure may arise because of.

Question # 3

Bank create money by

Question # 4

At the intersection of AD and AS equilibrium is achieved in.

Question # 5

The multiplier accelerator model assumes _______ depends on.

Question # 6

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

Question # 7

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

Question # 8

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 9

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 10

Potential output can be increased by _________ or by_________

Question # 11

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 12

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 13

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 14

In Nash equilibrium each player chooses the best strategy.

Question # 15

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 16

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

Question # 17

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 18

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

Question # 19

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 # 20

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

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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 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
2 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
3 A production technique is technically efficient if.
A. Output is maximized
B. Input are minimized
C. there is no way to make a given output using less of one input and no more of the other inputs.
D. costs are minimized
4 Firms are assumed to ____ costs and to _______ profit.
A. Incur , desire
B. Pay ; make
C. Change ;earn
D. Minimize ; maximize
5 The allocation of resources is not efficient it
A. The marginal cost of production does not equal society marginal benefit
B. The distribution is inequitable
C. Economic growth is low
D. Unemployment is high
6 A fall in investment demand can result from
A. Higher interest rates
B. Lower expected future profits
C. More expensive capital goods
D. All of the above
7 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.
8 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices
9 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC
10 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport

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