PPSC Economics Topic 11 Assess Your Basics MCQS

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PPSC Economics Chapter 11 Important MCQ's

Sr.#	Question	Answer
1	A production technique is technically efficient if.	A. Output is maximized B. Input are minimized C. there is no way to make a given output using less of one input and no more of the other inputs. D. costs are minimized
2	An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others	A. Worse off, worse off B. better off, better off C. better off, worse off D. equal , unequal
3	In the UK under a _________ of the labour force belong to a trade union.	A. Quarter B. Third C. Half D. Three quarters
4	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
5	Real GNP is a crude measure of national welfare because it excludes.	A. Consumption B. Investment C. Export's D. work in the home
6	The price elasticity of demand measures	A. The responsiveness of quantity demanded to a change in prie. B. How far a demand curve shifts C. A change in price D. A change in quantity demanded
7	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
8	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
9	If both Marginal cost and marginal revenue increase, a firm.	A. Should increase output B. Should reduce output C. Will require further information on how to respond D. should not change output
10	Monetarists believe that a reduction in _____ can be achieved by reducing.	A. Unemployment, prices B. Inflation, wages C. Unemployment, wages D. Inflation, the quantity of nominal money

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PPSC Economics Topic 11 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

PPSC Economics Topic 11 Assess Your Basics

The AD schedule indicates that______ inflation is associated with______ output.

Injection into the circular flow are _________ and _______

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

If banks and the private sector decide to hold less cash the money multiplier will be.

Firms are assumed to ____ costs and to _______ profit.

GDP per head may be an imperfect measure of economic welfare because it excludes.

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

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

Floating exchange rates are __ in the short run

In linear consumption function with a positive slope less that on means that if income increase, consumption will.

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

The key issues of macroeconomics are

The long run Philips curve is _________ at the ______

The equilibrium inflation rate is determine by the intersection of __________ and ___

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

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

A tariff causes domestic firms to __________ and consumers to

A supply curve is directly affected by

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

When we refer to the hidden economy we mean unrecorded income owing to.

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Topic Test

PPSC Economics Chapter 11 Test

Top Scorers Of PPSC Economics Topic 11 Assess Your Basics MCQ`s Test

PPSC Economics Chapter 11 Important MCQ's

Test Questions

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The AD schedule indicates that inflation is associated with output.

Injection into the circular flow are ___ and _

Firms are assumed to costs and to ___ profit.

An upward shift in marginal cost _________ output and an upward shift in _ marginal revenue output.

The long run Philips curve is ___ at the

The equilibrium inflation rate is determine by the intersection of ________ and _

In the ERM, each country fixed _ against each other ERM participant collectively the group.___ against the rest of the world.