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

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Question # 1

A current account deficit means that a country may.

Question # 2

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

Question # 3

The opportunity cost of a good is.

Question # 4

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 5

Comparing a monopoly and a competitive firm the monopolist will.

Question # 6

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

Question # 7

Market some times fall to exist because of.

Question # 8

Micro economics is conceded with

Question # 9

If the MPC is 0.5 the multiplier is

Question # 10

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

Question # 11

Land will be allocated between competing uses so that.

Question # 12

The main cause of different relative costs between countries are.

Question # 13

Perfect price discrimination means that every customer.

Question # 14

Firms are assumed to ____ costs and to _______ profit.

Question # 15

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

Question # 16

In the neoclassical theory of growth a higher saving rate leads to.

Question # 17

If two firms doing the same thing in the same industry join together this is known as a.

Question # 18

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 19

The price elasticity of demand measures

Question # 20

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

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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 the Maastricht criteria for entry to the EMU are that applicants should have
A. Low inflation
B. Low interest rates
C. Stable nominal exchange rate
D. All of the above
2 Micro economics is conceded with
A. The economy as a whole
B. The electronics industry
C. The study of individual economic behavior
D. the interactions within the entire economy
3 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
4 The value of an asset depends upon
A. Its scrap value
B. Its depreciation
C. The present value of the failure stream of income it can earn.
D. the cost of loans
5 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
6 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers
7 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
8 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase
9 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
10 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

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