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

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

Question # 2

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 3

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

Question # 4

The allocation of resources is not efficient it

Question # 5

A fall in investment demand can result from

Question # 6

Possible causes of involuntary unemployment are

Question # 7

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

Question # 8

The real value can be derived from a nominal value by

Question # 9

If a country has a burden of debt it cannot sustain it can.

Question # 10

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

Question # 11

Injection into the circular flow are _________ and _______

Question # 12

All of the following are benefits of the single market except.

Question # 13

All of the following are parts of the business cycle except.

Question # 14

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

Question # 15

A current account deficit means that a country may.

Question # 16

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

Question # 17

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 18

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 19

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

Question # 20

In a competitive industry each buyer and seller.

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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 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC
2 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices
3 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
4 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
5 A person who is made redundant because of the contraction of an industry is a victim of.
A. Frictional unemployment
B. Demand deficient unemployment
C. Classical unemployment
D. Structural unemployment
6 If demand is _______ then price cuts will ________ spending.
A. Inelastic, increase
B. Elastic, increase
C. Elastic, decreases
D. None of the above
7 The multiplier is calculated as.
A. 1(1-MPC)
B. 1/MPS
C. 1/MPC
D. a or b
8 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
9 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
10 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above

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