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

Injection into the circular flow are _________ and _______

Question # 2

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

Question # 3

Macro economics is the study of.

Question # 4

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 5

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 6

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

Question # 7

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.

Question # 8

A fall in investment demand can result from

Question # 9

Comparing a monopoly and a competitive firm the monopolist will.

Question # 10

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

Question # 11

A tariff causes domestic firms to __________ and consumers to

Question # 12

Efficiency wages are_______ that raise

Question # 13

In the EMU a country's competitiveness can change because of.

Question # 14

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 15

The AD schedule indicates that______ inflation is associated with______ output.

Question # 16

The primary function of a bank is to.

Question # 17

Human capital can be described as.

Question # 18

We cannot say whether one allocation of resources is better than another allocation because.

Question # 19

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 # 20

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

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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 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
2 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
3 Marginal revenue is the ________ when output is.
A. Change in average revenue, inversed.
B. change in total revenue, increased by one unit
C. change in average revenue, increased by one unit
D. Change in total revenue, incresed.
4 If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.
A. Private good
B. Merit good
C. Public good
D. Abundant good
5 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ
6 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
7 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
8 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
9 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
10 Fiscal policy is weak under floating exchange rates as fiscal expansion.
A. Crowds out imports
B. Crowds out public consumption
C. Crowds out exports
D. Reduces the budget deficit

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