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

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 2

The opportunity cost of a good is.

Question # 3

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 4

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

Question # 5

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

Question # 6

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 # 7

A competitive equilibrium is Pareto efficient because.

Question # 8

If the MPC is 0.5 the multiplier is

Question # 9

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 10

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

Question # 11

The Philips curve shows the trade off between ________ and _____

Question # 12

Nominal GNP measures income

Question # 13

Economics assumes that people consume goods and services to achieve.

Question # 14

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 15

All of the following are benefits of the single market except.

Question # 16

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 17

In the classical model, potential output can not be increased by

Question # 18

In the circular flow we would expect leakages to __________ injections.

Question # 19

Injection into the circular flow are _________ and _______

Question # 20

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

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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 Class Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 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
2 By restricting labour supply a trade union can _________ and_______
A. Increase the wage, increase employment
B. Maintain the wage, increase employment
C. Increase the wage lower employment
D. Maintain the wage, lower employment
3 An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.
A. Reduce , reduce
B. Reduce , increase
C. Increased, increased
D. Increases, reduces
4 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
5 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
6 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
7 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above
8 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
9 Real GNP is a crude measure of national welfare because it excludes.
A. Consumption
B. Investment
C. Export's
D. work in the home
10 The most important source of wage differentiate are.
A. Reginal variation
B. Unionization
C. Relative danger
D. Skills

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