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

All of the following are parts of the business cycle except.

Question # 2

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

Question # 3

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

Question # 4

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 5

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 6

The AD schedule indicates that______ inflation is associated with______ output.

Question # 7

Extremality's arise because there is a divergence between ____ and _

Question # 8

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 9

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.

Question # 10

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

Question # 11

In an open economy leakages to imports ______ the value of the multiplier.

Question # 12

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 13

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 14

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

Question # 15

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 16

Short run average total costs are equal to the sum of _______ and______

Question # 17

Top footballers land to earn more than lecturers because.

Question # 18

A production technique is technically efficient if.

Question # 19

The retail price index is used to.

Question # 20

Market some times fall to exist because of.

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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 Firms are assumed to ____ costs and to _______ profit.
A. Incur , desire
B. Pay ; make
C. Change ;earn
D. Minimize ; maximize
2 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.
3 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other
4 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
5 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.
6 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above
7 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above
8 Human capital can be described as.
A. The tools used by workers to entrances productivity
B. a persons inherited abilities.
C. The stock of expertise accumulated by a worker
D. Education
9 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
10 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above

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