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

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

Question # 2

A competitive equilibrium is Pareto efficient because.

Question # 3

In Nash equilibrium each player chooses the best strategy.

Question # 4

International difference in opportunity costs lead to countries acquiring.

Question # 5

The short run Philips curve can shift in response to changes in

Question # 6

If the MPC is 0.5 the multiplier is

Question # 7

The multiplier tells us how much __________ chagnes after a shift in.

Question # 8

In the EMU a country's competitiveness can change because of.

Question # 9

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

Question # 10

All of the following are type of monetary policy except

Question # 11

The price elasticity of demand measures

Question # 12

The prisoners Dilemma Game demonstrates that.

Question # 13

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

Question # 14

In an open economy leakages to imports ______ the value of the multiplier.

Question # 15

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

Question # 16

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

Question # 17

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

Question # 18

The main cause of different relative costs between countries are.

Question # 19

The opportunity cost of acquiring education is.

Question # 20

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

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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 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
2 The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
A. capital widening, technical innovation
B. Capital widening, catch up in technology
C. Capital deepening, technical innovation
D. Capital deepening, catch up technology.
3 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
4 Within circular flow of income, an increase in domestic income iwll lend to increase.
A. Exports
B. Taxes
C. Inventories
D. Imports
5 A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.
A. Reduction, increases
B. reduction,reduction
C. increase, reduction
D. increases, increases
6 Government may contribute to inflationary pressure on account of building up large.
A. Numbers of employees
B. Welfare plans
C. Budget deficits
D. Expenditure.
7 A competitive equilibrium is Pareto efficient because.
A. Producers are price takers
B. Consumers and producer's face the same prices
C. Marginal costs and benefits are equal
D. All of the above
8 When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.
A. Behave like competitive firms
B. Agree to act together
C. Differentiate their products
D. Practice price discrimination
9 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
10 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero

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