PPSC Economics Topic 11 MCQS Test Preparation

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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

If I keep some money available in case I see a bargain this is an example of.

Question # 2

A competitive firms demand curve is.

Question # 3

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 4

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

Question # 5

LDC's often have a comparative advantage in the production of.

Question # 6

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 7

In a free market

Question # 8

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 9

A firm that breaks even after all economic costs are paid is earning.

Question # 10

The participation rate in the labour force is affected by

Question # 11

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

Question # 12

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

Question # 13

A straight line diagram can be drawn knowing the _______ and _____

Question # 14

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 15

Micro economics is conceded with

Question # 16

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

Question # 17

Economics assumes that people consume goods and services to achieve.

Question # 18

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Question # 19

A good example of a public good is.

Question # 20

An increase in consumer income will increase demand for a __________ for decrease demand for a.

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
2 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.
3 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
4 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
5 In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.
A. Fall
B. Increases
C. Remain the same
D. Fluctuate
6 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce
7 A current account deficit means that a country may.
A. Reduce its stock of foreign assets
B. Increases its stock of foreign assets
C. Increases its savings
D. Increases its foreign currency reserves.
8 We cannot say whether one allocation of resources is better than another allocation because.
A. some people cant count
B. Some people may not be permanent residents
C. Not all economic activity is legal
D. We cant make value judgements to compare different people welfare.
9 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
10 Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.
A. Current account
B. Interest rate
C. Tax
D. Price

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