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

Top footballers land to earn more than lecturers because.

Question # 2

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

Question # 3

Potential output can be increased by _________ or by_________

Question # 4

In a competitive industry each buyer and seller.

Question # 5

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

Question # 6

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 7

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

Question # 8

Short run equilibrium output means that aggregate demand _ actual output

Question # 9

All of the following are types of imperfect competition except

Question # 10

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

Question # 11

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 12

By restricting labour supply a trade union can _________ and_______

Question # 13

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 14

A market can accuretaly be described as

Question # 15

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 16

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 17

The retail price index is used to.

Question # 18

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 19

The single European Act committed_ governments to a ___ in 1992

Question # 20

Firms are assumed to ____ costs and to _______ profit.

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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 The cost of using capital services is the
A. wage rate of capital
B. Interest charges
C. Marginal capital cost
D. Rental rate for capital
2 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
3 The business cycle describes fluctuations in output around the.
A. Trend path of output
B. Boom
C. Recession
D. Short run fluctuations in output
4 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
5 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
6 A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
7 Possible causes of involuntary unemployment are
A. Minimum wage agreements
B. Trade unions
C. Scale economies
D. All of the abvoe
8 The long run Philips curve is _________ at the ______
A. Horizontal natural rate of inflation
B. Horizontal , natural rate of unemployment
C. Vertical , natural rte of inflation
D. Vertical , equilibrium rate of unemployment.
9 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
10 A production technique is technically efficient if.
A. Output is maximized
B. Input are minimized
C. there is no way to make a given output using less of one input and no more of the other inputs.
D. costs are minimized

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