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

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Question # 2

The cost of using capital services is the

Question # 3

The opportunity cost of a student is.

Question # 4

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

Question # 5

The single European Act committed_ governments to a ___ in 1992

Question # 6

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

Question # 7

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 8

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 9

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 10

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 11

Marginal revenue is the ________ when output is.

Question # 12

Short run equilibrium output means that aggregate demand _ actual output

Question # 13

A good example of a public good is.

Question # 14

Economics assumes that people consume goods and services to achieve.

Question # 15

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 16

Output fell sharply in the transition economies because.

Question # 17

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

Question # 18

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 19

Normative economics form ______ based on.

Question # 20

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

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 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.
A. a nonlinear relationship
B. A positive linear relationship
C. A scatter diagram
D. A negative linear relationship
2 Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.
A. Deficit
B. Surplus
C. Revaluation
D. Devaluation
3 Perfect price discrimination means that every customer.
A. Buys the same amount
B. Pays the same price
C. Pays what she thinks the product is worth
D. Contributes the same revenue.
4 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
5 If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
6 In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.
A. 15%
B. 20%
C. 25%
D. 30%
7 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
8 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
9 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
10 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

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