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

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 2

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

Question # 3

In a free market

Question # 4

All of the following represent obstacles to LDC development except.

Question # 5

A market can accuretaly be described as

Question # 6

Possible causes of involuntary unemployment are

Question # 7

Leakages from the circular flow are____ and _____

Question # 8

The costs of inflation are

Question # 9

Economics assumes that people consume goods and services to achieve.

Question # 10

Firms are assumed to ____ costs and to _______ profit.

Question # 11

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Question # 12

Economic growth may depend upon __________ and_________

Question # 13

In the short run the level of floating exchange rates is determined mainly by.

Question # 14

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

Question # 15

The cost of using capital services is the

Question # 16

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 17

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

Question # 18

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 19

The main cause of different relative costs between countries are.

Question # 20

In linear consumption function with a positive slope less that on means that if income increase, consumption will.

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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 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
2 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
3 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
4 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
5 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
6 A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
7 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
8 The equilibrium price clears the market it is the price at which.
A. Everything is sold
B. Buyers spend all their money
C. Excess demand is zero
D. c and d
9 Real GNP measures income
A. Including non market activities
B. Adjusted for inflation
C. Including externalities
D. Including tax evasion
10 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product

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