PPSC Economics Topic 11 Assess Your Basics MCQS

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PPSC Economics Chapter 11 Important MCQ's

Sr.#	Question	Answer
1	Real business cycle theories suggest that _____ to correct departures from the desired growth path.	A. There is a role of fiscal policy B. There is a role for monetary policy C. There is a role for supply side policies D. There is no case for stabilizing output over the business cycle.
2	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
3	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
4	Aggregate demand without a foreign sector is the sum of.	A. c+1 B. C+G C. 1+G D. C+!+G
5	If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.	A. 30% B. 10% C. 70% D. 40%
6	The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.	A. Prices, wages, output and employment. B. Output, prices, employment C. Nominal money, the price level output and employment. D. Nominal money output prices
7	If a price increase of good A increases the quantity demanded of good B, then good B is a.	A. substitute good B. Complementary good C. Bargain D. Interior good
8	If two firms doing the same thing in the same industry join together this is known as a.	A. vertical merger B. Horizontal merger C. Conglomerate merger D. Hostile takeover
9	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
10	A market can accuretaly be described as	A. A place to buy things B. a place to sell things C. The process by which prices adjust to reconcile the allocation of resources D. a place where buyers and sellers meet.

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PPSC Economics Topic 11 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

PPSC Economics Topic 11 Assess Your Basics

The retail price index is used to.

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

In a free market

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

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

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

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

A competitive equilibrium is Pareto efficient because.

The long run Philips curve is _________ at the ______

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

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

A competitive firms demand curve is.

The participation rate in the labour force is affected by

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

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

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

LDC's often have a comparative advantage in the production of.

The equilibrium inflation rate is determine by the intersection of __________ and ___

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

Prepare Complete Set Wise PPSC Economics Topic 11 Assess Your Basics MCQs Online With Answers

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Set 11

Topic Test

PPSC Economics Chapter 11 Test

Top Scorers Of PPSC Economics Topic 11 Assess Your Basics MCQ`s Test

PPSC Economics Chapter 11 Important MCQ's

Test Questions

Share your comments & questions here

The long run Philips curve is ___ at the

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

The equilibrium inflation rate is determine by the intersection of ________ and _