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

Comparing a monopoly and a competitive firm the monopolist will.

Question # 2

For perfect competition ot work there must be

Question # 3

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

Question # 4

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

Question # 5

Bank create money by

Question # 6

A dominant strategy is.

Question # 7

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 8

The price elasticity of demand measures

Question # 9

In a competitive industry each buyer and seller.

Question # 10

The value of an asset depends upon

Question # 11

The single European Act committed_ governments to a ___ in 1992

Question # 12

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 13

At the intersection of AD and AS equilibrium is achieved in.

Question # 14

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 15

The equilibrium price clears the market it is the price at which.

Question # 16

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

Question # 17

Economics assumes that people consume goods and services to achieve.

Question # 18

A competitive equilibrium is Pareto efficient because.

Question # 19

The long run Philips curve is _________ at the ______

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

Here you can prepare PPSC Economics Chapter 11 (Assess Your Basics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 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
2 During periods of rising inflation and rising interest rates we expect the demand for real cash to.
A. rise
B. fall
C. not change
D. fluctuate
3 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
4 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
5 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.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
6 When we know the quantity of a product that buyers wish to purchases at each possible price we know.
A. Demand
B. Supply
C. excess demand
D. Excess supply
7 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
8 Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.
A. Substitutes, interior
B. Normal, complements
C. Substitutes, complements
D. Normal , interior
9 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.
10 If I keep some money available in case I see a bargain this is an example of.
A. Asset demand for money
B. Transactions demand for money
C. Token demand for money
D. Precautionary demand for money

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