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

Economics is the study of

Question # 2

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

Question # 3

If banks and the private sector decide to hold less cash the money multiplier will be.

Question # 4

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 5

If I keep some money available in case I see a bargain this is an example of.

Question # 6

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 7

The long run Philips curve is _________ at the ______

Question # 8

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 9

All of the following represent obstacles to LDC development except.

Question # 10

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

Question # 11

For given government spending and taxation the government budget deficit will grow in __________ and decline in _________

Question # 12

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

Question # 13

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 14

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

Question # 15

A market can accuretaly be described as

Question # 16

The costs of inflation are

Question # 17

The opportunity cost of a student is.

Question # 18

The allocation of resources is not efficient it

Question # 19

Nominal GNP measures income

Question # 20

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

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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 Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.
A. Deficit
B. Surplus
C. Revaluation
D. Devaluation
2 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
3 A current account deficit means that a country may.
A. Reduce its stock of foreign assets
B. Increases its stock of foreign assets
C. Increases its savings
D. Increases its foreign currency reserves.
4 The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.
A. Sun spect theory
B. Multiplier accelerator model
C. Solow theory
D. New classical theory
5 Possible causes of involuntary unemployment are
A. Minimum wage agreements
B. Trade unions
C. Scale economies
D. All of the abvoe
6 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
7 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
8 Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.
A. Depreciation
B. Appreciation
C. fall
D. Devaluation
9 An optimal tariff is one which reduces imports to the level at which ___ equals
A. imports , exports
B. The balance of trade, zero
C. The demand for currency, the supply of currency
D. Social marginal cost social marginal benefit
10 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift

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