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

The allocation of resources is not efficient it

Question # 2

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.

Question # 3

Skilled labour is relatively scarce because.

Question # 4

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

Question # 5

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

Question # 6

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

Question # 7

The business cycle describes fluctuations in output around the.

Question # 8

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

Question # 9

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 10

Market some times fall to exist because of.

Question # 11

The prisoners Dilemma Game demonstrates that.

Question # 12

A good example of a public good is.

Question # 13

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 14

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 15

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

Question # 16

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 # 17

Injection into the circular flow are _________ and _______

Question # 18

Economic transition involves high inflation because ______ and _____

Question # 19

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 20

GDP per head may be an imperfect measure of economic welfare because it excludes.

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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 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase
2 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
3 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
4 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
5 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
6 Higher export demand _______ output and a higher MPZ______ output..
A. Reduces, reduces
B. Reduces, increases
C. Increases, reduces
D. increases, increases
7 The level of the equilibrium exchange rate offsets international difference in.
A. Comparative advantage
B. Absolute advantage
C. Opportunity cost
D. Relative costs
8 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
9 Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.
A. aggregate supply is
B. aggregate demand is
C. Potential output is
D. Real variables are
10 Firms are assumed to ____ costs and to _______ profit.
A. Incur , desire
B. Pay ; make
C. Change ;earn
D. Minimize ; maximize

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