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

Economics is the study of

Question # 2

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

Question # 3

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

Question # 4

Real GNP measures income

Question # 5

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 6

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 7

The cost of using capital services is the

Question # 8

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 9

Aggregate demand without a foreign sector is the sum of.

Question # 10

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 11

Market some times fall to exist because of.

Question # 12

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

Question # 13

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 14

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 15

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 16

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 17

A competitive firm produces a level of output at which.

Question # 18

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 19

In Nash equilibrium each player chooses the best strategy.

Question # 20

The real value can be derived from a nominal value by

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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 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
2 The impossibility of negative gross investment provides a______ to fluctuations in.
A. Celling, stock building
B. Celling, capital prices
C. floor , output
D. floor , the capital output ratio
3 Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.
A. Decreasing returns to scale
B. The law of diminishing returns
C. Constant returns to scale
D. an inefficient production technique
4 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
5 If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.
A. An import subsidy
B. A quota
C. Comparative advantage
D. An export subsidy
6 Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.
A. Depreciation
B. Appreciation
C. fall
D. Devaluation
7 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
8 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
9 If banks and the private sector decide to hold less cash the money multiplier will be.
A. Unchanged
B. Larger
C. Smaller
D. unstable
10 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output

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