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

Firms are assumed to ____ costs and to _______ profit.

Question # 2

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

Question # 3

The Philips curve shows the trade off between ________ and _____

Question # 4

The allocation of resources is not efficient it

Question # 5

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 6

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 7

A competitive firm produces a level of output at which.

Question # 8

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

Question # 9

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 10

In the UK under a _________ of the labour force belong to a trade union.

Question # 11

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 12

Aggregate demand without a foreign sector is the sum of.

Question # 13

In a competitive industry each buyer and seller.

Question # 14

Market failure may arise because of.

Question # 15

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

Question # 16

A natural monopoly has a declining ________ over a large range of output.

Question # 17

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 # 18

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 19

Possible causes of involuntary unemployment are

Question # 20

A tariff causes domestic firms to __________ and consumers to

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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 An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.
A. Reduce , reduce
B. Reduce , increase
C. Increased, increased
D. Increases, reduces
2 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
3 Within circular flow of income, an increase in domestic income iwll lend to increase.
A. Exports
B. Taxes
C. Inventories
D. Imports
4 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%
5 The main cause of different relative costs between countries are.
A. Relative factors competition
B. Relative factor mobility
C. Relative factor substitution
D. Relative factor endowments
6 the Maastricht criteria for entry to the EMU are that applicants should have
A. Low inflation
B. Low interest rates
C. Stable nominal exchange rate
D. All of the above
7 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output
8 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
9 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
10 A person who is made redundant because of the contraction of an industry is a victim of.
A. Frictional unemployment
B. Demand deficient unemployment
C. Classical unemployment
D. Structural unemployment

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