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

00:00
Question # 1

Injection into the circular flow are _________ and _______

Question # 2

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

Question # 3

Output fell sharply in the transition economies because.

Question # 4

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 5

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 6

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 7

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

Question # 8

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

Question # 9

Market failure may arise because of.

Question # 10

On a graph a positive linear relation ship.

Question # 11

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

Question # 12

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

Question # 13

International specialization takes place because of.

Question # 14

Bank create money by

Question # 15

Except for taxes to offset ___ taxes are.

Question # 16

Marginal revenue is the ________ when output is.

Question # 17

Market some times fall to exist because of.

Question # 18

By restricting labour supply a trade union can _________ and_______

Question # 19

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

Question # 20

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

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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 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
2 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are
3 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole
4 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
5 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
6 Normative economics form ______ based on.
A. Positive statements facts
B. Opinions, personal values
C. Positive statements values
D. Opinions facts
7 In the economy when a steel producer sells steel to car producer it is regarded as.
A. A final good
B. An intermediate good
C. an injection
D. a leakage
8 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
9 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
10 The impossibility of negative gross investment provides a______ to fluctuations in.
A. Celling, stock building
B. Celling, capital prices
C. floor , output
D. floor , the capital output ratio

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