PPSC Economics Topic 11 MCQS Test Preparation

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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 neoclassical theory of growth a higher saving rate leads to.

Question # 2

Potential output can be increased by _________ or by_________

Question # 3

Perfect price discrimination means that every customer.

Question # 4

Floating exchange rates are __ in the short run

Question # 5

In the EMU a country's competitiveness can change because of.

Question # 6

A market can accuretaly be described as

Question # 7

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 8

Economics is the study of

Question # 9

Normative economics form ______ based on.

Question # 10

For perfect competition ot work there must be

Question # 11

A profit maximizing firm will hire labor until _______ equal the

Question # 12

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 13

Higher export demand _______ output and a higher MPZ______ output..

Question # 14

The opportunity cost of a student is.

Question # 15

The prisoners Dilemma Game demonstrates that.

Question # 16

The most important source of wage differentiate are.

Question # 17

In Nash equilibrium each player chooses the best strategy.

Question # 18

The multiplier is calculated as.

Question # 19

Market some times fall to exist because of.

Question # 20

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

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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 If a price increase of good A increases the quantity demanded of good B, then good B is a.
A. substitute good
B. Complementary good
C. Bargain
D. Interior good
2 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
3 The primary function of a bank is to.
A. Control the money supply
B. Provide notes and coins for trade
C. Make a profit
D. Provide a chequeen clearing system.
4 When capital mobility is perfect, interest rate differentials will tend to be offset by
A. Price differences.
B. Balance of payments differences.
C. Current account differences.
D. Expected exchange rate changes
5 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC
6 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
7 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
8 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
9 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are
10 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product

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