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

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 2

Skilled labour is relatively scarce because.

Question # 3

Output fell sharply in the transition economies because.

Question # 4

The Philips curve shows the trade off between ________ and _____

Question # 5

Top footballers land to earn more than lecturers because.

Question # 6

For perfect competition ot work there must be

Question # 7

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 8

A production technique is technically efficient if.

Question # 9

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 10

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 11

In a competitive industry each buyer and seller.

Question # 12

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

Question # 13

The short run Philips curve can shift in response to changes in

Question # 14

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 15

A supply curve is directly affected by

Question # 16

The opportunity cost of a good is.

Question # 17

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

Question # 18

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 19

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

Question # 20

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

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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 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers
2 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds
3 Potential output can be increased by _________ or by_________
A. Increasing the use of labour, increasing the use of land
B. Increasing the use of capital, increasing the use of labour
C. Increasing the use of land, increasing the use of capital
D. Increasing the use of all inputs technical advances
4 Possible causes of involuntary unemployment are
A. Minimum wage agreements
B. Trade unions
C. Scale economies
D. All of the abvoe
5 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.
A. Decreasing returns to scale
B. The law of diminishing returns
C. Constant returns to scale
D. an inefficient production technique
6 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
7 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
8 Monetarists believe that a reduction in _____ can be achieved by reducing.
A. Unemployment, prices
B. Inflation, wages
C. Unemployment, wages
D. Inflation, the quantity of nominal money
9 When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.
A. Behave like competitive firms
B. Agree to act together
C. Differentiate their products
D. Practice price discrimination
10 Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.
A. Externality
B. Market imperfection
C. Deadweight burden
D. Free rider

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