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

Extremality's arise because there is a divergence between ____ and _

Question # 2

Land will be allocated between competing uses so that.

Question # 3

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

Question # 4

In the neoclassical theory of growth a higher saving rate leads to.

Question # 5

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 6

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

Question # 7

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 8

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 9

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

Question # 10

The value of an asset depends upon

Question # 11

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 12

International specialization takes place because of.

Question # 13

A good example of a public good is.

Question # 14

Perfect price discrimination means that every customer.

Question # 15

If two firms doing the same thing in the same industry join together this is known as a.

Question # 16

The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____

Question # 17

The price elasticity of demand measures

Question # 18

In the circular flow we would expect leakages to __________ injections.

Question # 19

At the intersection of AD and AS equilibrium is achieved in.

Question # 20

Economics is the study of

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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 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
2 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
3 In the short run the level of floating exchange rates is determined mainly by.
A. Interest rates
B. Competitiveness
C. Trade
D. Speculation
4 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
5 The most important source of wage differentiate are.
A. Reginal variation
B. Unionization
C. Relative danger
D. Skills
6 Normative economics form ______ based on.
A. Positive statements facts
B. Opinions, personal values
C. Positive statements values
D. Opinions facts
7 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
8 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
9 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.
10 By restricting labour supply a trade union can _________ and_______
A. Increase the wage, increase employment
B. Maintain the wage, increase employment
C. Increase the wage lower employment
D. Maintain the wage, lower employment

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