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

The opportunity cost of a student is.

Question # 2

The single European Act committed_ governments to a ___ in 1992

Question # 3

A market can accuretaly be described as

Question # 4

At the intersection of AD and AS equilibrium is achieved in.

Question # 5

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 6

Floating exchange rates are __ in the short run

Question # 7

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

Question # 8

If two firms doing the same thing in the same industry join together this is known as a.

Question # 9

The AD schedule indicates that______ inflation is associated with______ output.

Question # 10

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

Question # 11

If I keep some money available in case I see a bargain this is an example of.

Question # 12

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 13

The extra utility from consuming one more unit of a good is called.

Question # 14

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

Question # 15

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

Question # 16

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 17

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

Question # 18

Injection into the circular flow are _________ and _______

Question # 19

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 20

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

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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 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport
2 When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.
A. depreciates, appreciates
B. revalues, devalues
C. appreciates, deprecates
D. becomes more expensive, becomes cheaper
3 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
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 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
6 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
7 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
8 By restricting labour supply a trade union can _________ and_______
A. Increase the wage, increase employment
B. Maintain the wage, increase employment
C. Increase the wage lower employment
D. Maintain the wage, lower employment
9 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
10 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds

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