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

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 2

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 3

Floating exchange rates are __ in the short run

Question # 4

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

Question # 5

If the MPC is 0.5 the multiplier is

Question # 6

Macro economics is the study of.

Question # 7

Market some times fall to exist because of.

Question # 8

Real GNP is a crude measure of national welfare because it excludes.

Question # 9

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

Question # 10

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 11

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 12

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 13

Perfect price discrimination means that every customer.

Question # 14

The opportunity cost of acquiring education is.

Question # 15

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

Question # 16

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 17

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

Question # 18

The business cycle describes fluctuations in output around the.

Question # 19

The allocation of resources is not efficient it

Question # 20

A supply curve is directly affected by

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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 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
2 Perfect price discrimination means that every customer.
A. Buys the same amount
B. Pays the same price
C. Pays what she thinks the product is worth
D. Contributes the same revenue.
3 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
4 Fiscal policy is weak under floating exchange rates as fiscal expansion.
A. Crowds out imports
B. Crowds out public consumption
C. Crowds out exports
D. Reduces the budget deficit
5 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
6 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
7 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
8 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
9 Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.
A. Move into surplus
B. Move into deficit
C. Remain unchanged
D. None of these
10 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC

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