PPSC Economics Topic 11 Assess Your Basics MCQS

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huma 30 - Jun - 2021 12 Min 23 Sec 8/20
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Abdul Basit 26 - May - 2022 05 Min 13 Sec 6/20
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PPSC Economics Chapter 11 Important MCQ's

Sr.#	Question	Answer
1	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.	A. An import subsidy B. A quota C. Comparative advantage D. An export subsidy
2	In the short run the level of floating exchange rates is determined mainly by.	A. Interest rates B. Competitiveness C. Trade D. Speculation
3	The business cycle describes fluctuations in output around the.	A. Trend path of output B. Boom C. Recession D. Short run fluctuations in output
4	An increase in consumer income will increase demand for a __________ for decrease demand for a.	A. Substitute good interior good B. Normal good, interior good C. Interior good, normal good. D. Normal good, complementary good.
5	Top footballers land to earn more than lecturers because.	A. Footballers give more entertainment B. Lecturers are lazy C. The labour markets are imperfect D. Top footballers are relatively scarce in relation to lecturers
6	Bank create money by	A. Printing it B. Issuing debit cards C. Accepting chequeens D. Lending out part of their deposits
7	A natural monopoly has a declining ________ over a large range of output.	A. Long run marginal cost B. Short run marginal cost C. Long run average cost D. Long run marginal cost
8	We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.	A. Smaller B. Larger C. the same size D. None of these
9	Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.	A. Move into surplus B. Move into deficit C. Remain unchanged D. None of these
10	In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.	A. Selling, increase B. buying , increase C. selling, reduce D. both b and c

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PPSC Economics Topic 11 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

PPSC Economics Topic 11 Assess Your Basics

The business cycle is not transmitted from one country to another through.

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

On a graph a positive linear relation ship.

The participation rate in the labour force is affected by

Firms are assumed to ____ costs and to _______ profit.

Marginal revenue is the ________ when output is.

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

A competitive firm produces a level of output at which.

Comparing a monopoly and a competitive firm the monopolist will.

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

The Philips curve shows the trade off between ________ and _____

The key issues of macroeconomics are

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

The retail price index is used to.

Efficiency wages are_______ that raise

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

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

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Government may contribute to inflationary pressure on account of building up large.

The value of an asset depends upon

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Topic Test

PPSC Economics Chapter 11 Test

Top Scorers Of PPSC Economics Topic 11 Assess Your Basics MCQ`s Test

PPSC Economics Chapter 11 Important MCQ's

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Firms are assumed to costs and to ___ profit.

The Philips curve shows the trade off between ____ and _