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

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 2

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 3

In linear consumption function with a positive slope less that on means that if income increase, consumption will.

Question # 4

Possible causes of involuntary unemployment are

Question # 5

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 6

A good example of a public good is.

Question # 7

All of the following are types of imperfect competition except

Question # 8

In a free market

Question # 9

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 # 10

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 11

Normative economics form ______ based on.

Question # 12

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

Question # 13

On a graph a positive linear relation ship.

Question # 14

International specialization takes place because of.

Question # 15

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 16

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 17

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

Question # 18

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 19

The real value can be derived from a nominal value by

Question # 20

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

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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 Economic growth may depend upon __________ and_________
A.
Population size , x -efficiency
B. Population age distribution, education
C. Population growth, education
D. Population growth, technical progress
2 Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.
A. Substitutes, interior
B. Normal, complements
C. Substitutes, complements
D. Normal , interior
3 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
4 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
5 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
6 GDP per head may be an imperfect measure of economic welfare because it excludes.
A. The value of leisure
B. Externalities
C. Untraded goods
D. All of the above
7 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
8 If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by
A. 20%
B. 2%
C. 12%
D. 15%
9 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
10 The level of the equilibrium exchange rate offsets international difference in.
A. Comparative advantage
B. Absolute advantage
C. Opportunity cost
D. Relative costs

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