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

Leakages from the circular flow are____ and _____

Question # 2

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

Question # 3

Land will be allocated between competing uses so that.

Question # 4

In the neoclassical theory of growth a higher saving rate leads to.

Question # 5

Short run average total costs are equal to the sum of _______ and______

Question # 6

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

Question # 7

Marginal revenue is the ________ when output is.

Question # 8

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 9

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

Question # 10

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

Question # 11

For perfect competition ot work there must be

Question # 12

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.

Question # 13

The price elasticity of demand measures

Question # 14

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 15

All of the following represent obstacles to LDC development except.

Question # 16

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 17

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 18

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 19

If demand is _______ then price cuts will ________ spending.

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 business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output
2 The allocation of resources is not efficient it
A. The marginal cost of production does not equal society marginal benefit
B. The distribution is inequitable
C. Economic growth is low
D. Unemployment is high
3 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
4 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
5 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
6 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%
7 If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.
A. a nonlinear relationship
B. A positive linear relationship
C. A scatter diagram
D. A negative linear relationship
8 The opportunity cost of a good is.
A. The time lost in finding it
B. The quantity of other goods sacrificed to get another unit of that good
C. The expenditure on the good
D. The loss of interest in using savings
9 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
10 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

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