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

Short run average total costs are equal to the sum of _______ and______

Question # 2

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

Question # 3

The multiplier accelerator model assumes _______ depends on.

Question # 4

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

Question # 5

The increase in total cost when one more units is produced is known as.

Question # 6

For perfect competition ot work there must be

Question # 7

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

Question # 8

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

Question # 9

Economics assumes that people consume goods and services to achieve.

Question # 10

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

Question # 11

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

Question # 12

The main cause of different relative costs between countries are.

Question # 13

The firms long run output decision will be where.

Question # 14

The most important source of wage differentiate are.

Question # 15

Micro economics is conceded with

Question # 16

All of the following represent obstacles to LDC development except.

Question # 17

Bank create money by

Question # 18

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 19

A competitive firms demand curve is.

Question # 20

A tariff causes domestic firms to __________ and consumers to

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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 In the classical model, potential output can not be increased by
A. Monetary growth
B. Better technology
C. More capital
D. higher labour supply
2 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
3 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
4 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport
5 The retail price index is used to.
A. Construct price lists
B. Compare shop prices
C. Measure changes in the cost of living
D. None of the above
6 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
7 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
8 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
9 If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.
A. Inflation
B. A supply shocks
C. Crowding out
D. Inflation illusion
10 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate

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