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

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

Question # 2

The costs of inflation are

Question # 3

The retail price index is used to.

Question # 4

Bank create money by

Question # 5

Floating exchange rates are __ in the short run

Question # 6

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

Question # 7

a demand curve can shift because of changing.

Question # 8

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 9

Higher export demand _______ output and a higher MPZ______ output..

Question # 10

In the UK under a _________ of the labour force belong to a trade union.

Question # 11

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

Question # 12

For perfect competition ot work there must be

Question # 13

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

Question # 14

The real value can be derived from a nominal value by

Question # 15

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 16

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 17

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 18

Women and non whiles on average receive lower comes than white men because.

Question # 19

Land will be allocated between competing uses so that.

Question # 20

If a long average cost rises, output rises from left to right this is an example of.

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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 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.
2 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit
3 Efficiency wages are_______ that raise
A. Low wages , employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment
4 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
5 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
6 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
7 During periods of rising inflation and rising interest rates we expect the demand for real cash to.
A. rise
B. fall
C. not change
D. fluctuate
8 A rise in the real exchange rate will __ the competitiveness of the domestic economy.
A. Increase
B. reduce
C. do nothing do
D. all of these
9 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
10 Comparing a monopoly and a competitive firm the monopolist will.
A. Produce less at a lower price
B. Produce more at a lower price
C. Produce less at a higher price
D. Produce less at a lower price

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