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 total multiplier for the economy will reflect.

Question # 2

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

Question # 3

All of the following are types of imperfect competition except

Question # 4

A current account deficit means that a country may.

Question # 5

We cannot say whether one allocation of resources is better than another allocation because.

Question # 6

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

Question # 7

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 8

When we refer to the hidden economy we mean unrecorded income owing to.

Question # 9

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

Question # 10

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

Question # 11

Aggregate demand without a foreign sector is the sum of.

Question # 12

Injection into the circular flow are _________ and _______

Question # 13

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

Question # 14

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

Question # 15

A monopoly may be self perpetuating because profits may be used for

Question # 16

In the UK under a _________ of the labour force belong to a trade union.

Question # 17

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

Question # 18

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 19

The opportunity cost of a good is.

Question # 20

A market can accuretaly be described as

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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 The opportunity cost of acquiring education is.
A. Course fees
B. Course fees and living expenses
C. The earning foregone
D. Course fees, living expenses and textbooks
2 Leakages from the circular flow are____ and _____
A. Investment savings, government expenditure
B. Saving , taxes net of subsidies, imports
C. Consumption, investment , government expenditure.
D. Consumption, taxes, impports
3 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
4 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
5 Real GNP measures income
A. Including non market activities
B. Adjusted for inflation
C. Including externalities
D. Including tax evasion
6 The increase in total cost when one more units is produced is known as.
A. Marginal cost
B. Opportunity cost
C. Limited cost
D. Average cost
7 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.
8 Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.
A. Substitutes, interior
B. Normal, complements
C. Substitutes, complements
D. Normal , interior
9 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
10 A tariff causes domestic firms to __________ and consumers to
A. Overproduced, under consume
B. overproduce , overconsume
C. Underproduce, under consume
D. underproduce, overconsume

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