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

Leakages from the circular flow are____ and _____

Question # 2

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

Question # 3

A dominant strategy is.

Question # 4

Land will be allocated between competing uses so that.

Question # 5

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 6

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 7

In the short run the level of floating exchange rates is determined mainly by.

Question # 8

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

Question # 9

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 10

If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.

Question # 11

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 12

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

Question # 13

Perfect price discrimination means that every customer.

Question # 14

Except for taxes to offset ___ taxes are.

Question # 15

We cannot say whether one allocation of resources is better than another allocation because.

Question # 16

The real value can be derived from a nominal value by

Question # 17

Efficiency wages are_______ that raise

Question # 18

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

Question # 19

Normative economics form ______ based on.

Question # 20

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

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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 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole
2 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport
3 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
4 Leakages from the circular flow are____ and _____
A. Investment savings, government expenditure
B. Saving , taxes net of subsidies, imports
C. Consumption, investment , government expenditure.
D. Consumption, taxes, impports
5 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
6 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
7 Higher export demand _______ output and a higher MPZ______ output..
A. Reduces, reduces
B. Reduces, increases
C. Increases, reduces
D. increases, increases
8 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds
9 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.
A. Smaller
B. Larger
C. the same size
D. None of these
10 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility

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