PPSC Economics Topic 11 MCQS Test Preparation

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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

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

Question # 2

A dominant strategy is.

Question # 3

All of the following are type of monetary policy except

Question # 4

A production technique is technically efficient if.

Question # 5

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

Question # 6

Aggregate demand without a foreign sector is the sum of.

Question # 7

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

Question # 8

Real business cycle are cycles in

Question # 9

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 10

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.

Question # 11

In a free market

Question # 12

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 # 13

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

Question # 14

All of the following are types of imperfect competition except

Question # 15

If a long average cost rises, output rises from left to right this is an example of.

Question # 16

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

Question # 17

A supply curve is directly affected by

Question # 18

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

Question # 19

The equilibrium price clears the market it is the price at which.

Question # 20

If desired spending in the economy exceeds income we would expect.

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Economics
11th Chapter

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Sr.# Question Answer
1 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
2 A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
3 In the EMU a country's competitiveness can change because of.
A. Interest rate adjustment
B. Central bank intervention i the forex
C. Domestic wage and price adjustment
D. Devaluations
4 LDC's often have a comparative advantage in the production of.
A. Primary products
B. Intermediate products
C. Manufactured products
D. Financial services.
5 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
6 Short run average total costs are equal to the sum of _______ and______
A. Short run opportunity costs, profit
B. Short run average variable costs, profit
C. short run average variable costs, profit.
D. Short run average variable costs short run average fixed costs
7 A competitive firm produces a level of output at which.
A. Price is greater than marginal cost
B. Price equals marginal cost
C. Price is less than marginal cost
D. None of the above
8 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.
9 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output
10 All of the following are parts of the business cycle except.
A. Boom
B. slump
C. Recovery
D. Acceleration
11 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market
12 The opportunity cost of acquiring education is.
A. Course fees
B. Course fees and living expenses
C. The earning foregone
D. Course fees, living expenses and textbooks
13 Possible causes of involuntary unemployment are
A. Minimum wage agreements
B. Trade unions
C. Scale economies
D. All of the abvoe
14 When capital mobility is perfect, interest rate differentials will tend to be offset by
A. Price differences.
B. Balance of payments differences.
C. Current account differences.
D. Expected exchange rate changes
15 A supply curve is directly affected by
A. Technology
B. Input costs
C.
Government regulation
D. All of the above
16 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport
17 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
18 If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely
A. Increase
B. Not change
C. Decrease
D. Shift
19 Government may contribute to inflationary pressure on account of building up large.
A. Numbers of employees
B. Welfare plans
C. Budget deficits
D. Expenditure.
20 Economic transition involves high inflation because ______ and _____
A. High monetary growth, high wages.
B. High budget deficits, devaluation
C. High monetary growth, devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.

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