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

In the circular flow we would expect leakages to __________ injections.

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

International specialization takes place because of.

Question # 6

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

Question # 7

By restricting labour supply a trade union can _________ and_______

Question # 8

The multiplier is calculated as.

Question # 9

The participation rate in the labour force is affected by

Question # 10

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

Question # 11

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

Question # 12

If both Marginal cost and marginal revenue increase, a firm.

Question # 13

Normative economics form ______ based on.

Question # 14

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 # 15

For perfect competition ot work there must be

Question # 16

The opportunity cost of a good is.

Question # 17

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 18

Land will be allocated between competing uses so that.

Question # 19

An increase in consumer income will increase demand for a __________ for decrease demand for a.

Question # 20

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

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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 The multiplier tells us how much __________ chagnes after a shift in.
A. Consumption, income
B. Investment , output
C. Savings, investment
D. output, aggregate demand
2 Perfect price discrimination means that every customer.
A. Buys the same amount
B. Pays the same price
C. Pays what she thinks the product is worth
D. Contributes the same revenue.
3 Market some times fall to exist because of.
A. Externalities
B. the free rider problem
C. Poor transport
D. a an b
4 Except for taxes to offset ___ taxes are.
A. Imperfect competition , popular
B. Extremality's, distortionary
C. Inequality, a first best option
D. Poor health, unnecessary
5 Real GNP measures income
A. Including non market activities
B. Adjusted for inflation
C. Including externalities
D. Including tax evasion
6 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
7 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.
8 Within circular flow of income, an increase in domestic income iwll lend to increase.
A. Exports
B. Taxes
C. Inventories
D. Imports
9 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility
10 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors

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