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

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 2

A dominant strategy is.

Question # 3

In a free market

Question # 4

A competitive firm produces a level of output at which.

Question # 5

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 6

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

Question # 7

A competitive firms demand curve is.

Question # 8

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

Question # 9

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 10

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 11

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

Question # 12

International difference in opportunity costs lead to countries acquiring.

Question # 13

Short run equilibrium output means that aggregate demand _ actual output

Question # 14

A supply curve is directly affected by

Question # 15

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

Question # 16

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 17

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

Question # 18

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 # 19

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 20

The price elasticity of demand measures

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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 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
2 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce
3 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
4 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
5 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
6 The most important source of wage differentiate are.
A. Reginal variation
B. Unionization
C. Relative danger
D. Skills
7 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
8 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
9 A tariff causes domestic firms to __________ and consumers to
A. Overproduced, under consume
B. overproduce , overconsume
C. Underproduce, under consume
D. underproduce, overconsume
10 In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.
A. 15%
B. 20%
C. 25%
D. 30%

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