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

00:00
Question # 1

Potential output can be increased by _________ or by_________

Question # 2

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

Question # 3

All of the following are type of monetary policy except

Question # 4

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

Question # 5

A market can accuretaly be described as

Question # 6

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 7

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

Question # 8

Leakages from the circular flow are____ and _____

Question # 9

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 10

Comparing a monopoly and a competitive firm the monopolist will.

Question # 11

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 12

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 13

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

Question # 14

The primary function of a bank is to.

Question # 15

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 16

A current account deficit means that a country may.

Question # 17

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 18

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 19

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

Question # 20

The imposition of a tariff causes consumption to _______ and imports 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 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.
2 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
3 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
4 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
5 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
6 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
7 Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and
A. Marginal costs, marginal benefits
B. Demand, supply
C. Marginal cost, marginal revenue
D. Marginal cost, average cost
8 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
9 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
10 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

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