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

00:00
Question # 1

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

Question # 2

A current account deficit means that a country may.

Question # 3

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 4

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 5

Injection into the circular flow are _________ and _______

Question # 6

The firms long run output decision will be where.

Question # 7

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 8

The main cause of different relative costs between countries are.

Question # 9

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

Question # 10

If the MPC is 0.5 the multiplier is

Question # 11

Bank create money by

Question # 12

The retail price index is used to.

Question # 13

Marginal revenue is the ________ when output is.

Question # 14

A competitive firms demand curve is.

Question # 15

International specialization takes place because of.

Question # 16

Market failure may arise because of.

Question # 17

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

Question # 18

A supply curve is directly affected by

Question # 19

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 20

Efficiency wages are_______ that raise

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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 equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
2 The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.
A. Reduce, reduce
B. increase, increase
C. Increase , reduce
D. reduce, increase
3 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
4 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.
A. Private good
B. Merit good
C. Public good
D. Abundant good
5 Except for taxes to offset ___ taxes are.
A. Imperfect competition , popular
B. Extremality's, distortionary
C. Inequality, a first best option
D. Poor health, unnecessary
6 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.
7 Top footballers land to earn more than lecturers because.
A. Footballers give more entertainment
B. Lecturers are lazy
C. The labour markets are imperfect
D. Top footballers are relatively scarce in relation to lecturers
8 The prisoners Dilemma Game demonstrates that.
A. Players are better off to act independently
B. Monopoly is better than competition
C. People will always cheat
D. Players are better off if they con operate
9 In the short run, the supply of capital is _______ and in the long run iwll depend on.
A. Variable technology
B. Fixed, expectations
C. Fixed, rental rate of capital
D. Variable, interest rates.
10 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

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