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

  • Total Questions20

  • Time Allowed20

PPSC Economics Topic 11 Assess Your Basics

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Question # 1

When we refer to the hidden economy we mean unrecorded income owing to.

Question # 2

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 3

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

Question # 4

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 5

By restricting labour supply a trade union can _________ and_______

Question # 6

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 7

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 8

Short run equilibrium output means that aggregate demand _ actual output

Question # 9

a demand curve can shift because of changing.

Question # 10

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 11

Extremality's arise because there is a divergence between ____ and _

Question # 12

The multiplier accelerator model assumes _______ depends on.

Question # 13

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 14

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

Question # 15

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 16

In a competitive industry each buyer and seller.

Question # 17

A competitive equilibrium is Pareto efficient because.

Question # 18

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

Question # 19

The primary function of a bank is to.

Question # 20

Injection into the circular flow are _________ and _______

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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 A straight line diagram can be drawn knowing the _______ and _____
A. Vertical axis and horizontal axis
B. Intercept and slope
C. Scale and slope
D. Intercept and scale.
2 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.
3 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole
4 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate
5 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
6 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
7 In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
8 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change
9 The prisoners Dilemma Game demonstrates that.
A. Players are better off to act independently
B. Monopoly is better than competition
C. People will always cheat
D. Players are better off if they con operate
10 If two firms doing the same thing in the same industry join together this is known as a.
A. vertical merger
B. Horizontal merger
C. Conglomerate merger
D. Hostile takeover

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