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

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Question # 1

In Nash equilibrium each player chooses the best strategy.

Question # 2

The multiplier accelerator model assumes _______ depends on.

Question # 3

In the short run the level of floating exchange rates is determined mainly by.

Question # 4

A competitive equilibrium is Pareto efficient because.

Question # 5

The firms long run output decision will be where.

Question # 6

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

Question # 7

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

Question # 8

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

Question # 9

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 10

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

Question # 11

International specialization takes place because of.

Question # 12

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

Question # 13

All of the following represent obstacles to LDC development except.

Question # 14

The key issues of macroeconomics are

Question # 15

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 16

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 17

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

Question # 18

Real GNP measures income

Question # 19

The impossibility of negative gross investment provides a______ to fluctuations in.

Question # 20

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

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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 If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.
A. Private good
B. Merit good
C. Public good
D. Abundant good
2 Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.
A. Decreasing returns to scale
B. The law of diminishing returns
C. Constant returns to scale
D. an inefficient production technique
3 A current account deficit means that a country may.
A. Reduce its stock of foreign assets
B. Increases its stock of foreign assets
C. Increases its savings
D. Increases its foreign currency reserves.
4 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
5 The costs of inflation are
A. Shoe leather costs
B. Menu costs
C. Income redistribution
D. All of the above
6 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
7 The business cycle is not transmitted from one country to another through.
A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labour supply changes
8 Women and non whiles on average receive lower comes than white men because.
A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above
9 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%
10 Comparing a monopoly and a competitive firm the monopolist will.
A. Produce less at a lower price
B. Produce more at a lower price
C. Produce less at a higher price
D. Produce less at a lower price

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