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 short run Philips curve can shift in response to changes in

Question # 2

Extremality's arise because there is a divergence between ____ and _

Question # 3

The multiplier accelerator model assumes _______ depends on.

Question # 4

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

Question # 5

International difference in opportunity costs lead to countries acquiring.

Question # 6

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

Question # 7

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 8

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

Question # 9

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

Question # 10

The opportunity cost of a student is.

Question # 11

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 12

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

Question # 13

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

Question # 14

A dominant strategy is.

Question # 15

A firm that breaks even after all economic costs are paid is earning.

Question # 16

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

Question # 17

Real business cycle are cycles in

Question # 18

Economics is the study of

Question # 19

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 20

Normative economics form ______ based on.

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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 Short run equilibrium output means that aggregate demand _ actual output
A. is less than
B. equals
C. is greater than
D. fluctuates around
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 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
4 Economic growth may depend upon __________ and_________
A.
Population size , x -efficiency
B. Population age distribution, education
C. Population growth, education
D. Population growth, technical progress
5 A supply curve is directly affected by
A. Technology
B. Input costs
C.
Government regulation
D. All of the above
6 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
7 The retail price index is used to.
A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above
8 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
9 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers
10 Efficiency wages are_______ that raise
A. Low wages , employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment

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