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

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Question # 1

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

Question # 2

The extra utility from consuming one more unit of a good is called.

Question # 3

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 4

If desired spending in the economy exceeds income we would expect.

Question # 5

In the UK under a _________ of the labour force belong to a trade union.

Question # 6

A market can accuretaly be described as

Question # 7

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

Question # 8

Output fell sharply in the transition economies because.

Question # 9

Skilled labour is relatively scarce because.

Question # 10

A good example of a public good is.

Question # 11

Marginal revenue is the ________ when output is.

Question # 12

In a free market

Question # 13

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

Question # 14

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 15

The price elasticity of demand measures

Question # 16

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

Question # 17

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 18

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.

Question # 19

Micro economics is conceded with

Question # 20

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

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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 government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
2 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices
3 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
4 The opportunity cost of a good is.
A. The time lost in finding it
B. The quantity of other goods sacrificed to get another unit of that good
C. The expenditure on the good
D. The loss of interest in using savings
5 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
6 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
7 Market some times fall to exist because of.
A. Externalities
B. the free rider problem
C. Poor transport
D. a an b
8 Efficiency wages are_______ that raise
A. Low wages , employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment
9 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ
10 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply

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