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

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Question # 1

In a free market

Question # 2

The main cause of different relative costs between countries are.

Question # 3

The level of the equilibrium exchange rate offsets international difference in.

Question # 4

The cost of using capital services is the

Question # 5

All of the following represent obstacles to LDC development except.

Question # 6

If the MPC is 0.5 the multiplier is

Question # 7

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

Question # 8

The most important source of wage differentiate are.

Question # 9

A competitive firms demand curve is.

Question # 10

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

Question # 11

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 # 12

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

Question # 13

The prisoners Dilemma Game demonstrates that.

Question # 14

If a country has a burden of debt it cannot sustain it can.

Question # 15

Market some times fall to exist because of.

Question # 16

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

Question # 17

The AD schedule indicates that______ inflation is associated with______ output.

Question # 18

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 19

All of the following are parts of the business cycle except.

Question # 20

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

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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 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
2 A production technique is technically efficient if.
A. Output is maximized
B. Input are minimized
C. there is no way to make a given output using less of one input and no more of the other inputs.
D. costs are minimized
3 Marginal revenue is the ________ when output is.
A. Change in average revenue, inversed.
B. change in total revenue, increased by one unit
C. change in average revenue, increased by one unit
D. Change in total revenue, incresed.
4 If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.
A. 30%
B. 10%
C. 70%
D. 40%
5 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
6 Women and non whiles on average receive lower comes than white men because.
A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above
7 The imposition of a tariff causes consumption to _______ and imports to.
A. rise , rise
B. fall , rise
C. fall , fall
D. rise , fall
8 The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.
A. Reduce, reduce
B. increase, increase
C. Increase , reduce
D. reduce, increase
9 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
10 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers

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