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

Leakages from the circular flow are____ and _____

Question # 2

A competitive equilibrium is Pareto efficient because.

Question # 3

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 4

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 # 5

All of the following are types of imperfect competition except

Question # 6

If a country has a burden of debt it cannot sustain it can.

Question # 7

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

Question # 8

The total multiplier for the economy will reflect.

Question # 9

The value of an asset depends upon

Question # 10

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

Question # 11

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

Question # 12

The most important source of wage differentiate are.

Question # 13

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 14

A competitive firms demand curve is.

Question # 15

Real GNP is a crude measure of national welfare because it excludes.

Question # 16

Efficiency wages are_______ that raise

Question # 17

The opportunity cost of a good is.

Question # 18

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

Question # 19

The multiplier tells us how much __________ chagnes after a shift in.

Question # 20

If some body is prepared to work at the going wage rate but cannot find work than they are victims 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 If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.
A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
2 When real income increases, other things equal we fan expect the demand for real money holdings to.
A. Fall
B. Not change
C. Increase
D. Decrease
3 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
4 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
5 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
6 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
7 Fiscal policy is weak under floating exchange rates as fiscal expansion.
A. Crowds out imports
B. Crowds out public consumption
C. Crowds out exports
D. Reduces the budget deficit
8 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
9 Within circular flow of income, an increase in domestic income iwll lend to increase.
A. Exports
B. Taxes
C. Inventories
D. Imports
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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