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

Nominal GNP measures income

Question # 2

If the MPC is 0.5 the multiplier is

Question # 3

The cost of using capital services is the

Question # 4

The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.

Question # 5

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 6

The price elasticity of demand measures

Question # 7

Micro economics is conceded with

Question # 8

Firms are assumed to ____ costs and to _______ profit.

Question # 9

Short run equilibrium output means that aggregate demand _ actual output

Question # 10

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 11

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

Question # 12

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 13

GDP per head may be an imperfect measure of economic welfare because it excludes.

Question # 14

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 15

A competitive firm produces a level of output at which.

Question # 16

Bank create money by

Question # 17

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 18

The business cycle describes fluctuations in output around the.

Question # 19

Possible causes of involuntary unemployment are

Question # 20

The imposition of a tariff causes consumption to _______ and imports to.

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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 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
2 An optimal tariff is one which reduces imports to the level at which ___ equals
A. imports , exports
B. The balance of trade, zero
C. The demand for currency, the supply of currency
D. Social marginal cost social marginal benefit
3 The costs of inflation are
A. Shoe leather costs
B. Menu costs
C. Income redistribution
D. All of the above
4 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change
5 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
6 Perfect price discrimination means that every customer.
A. Buys the same amount
B. Pays the same price
C. Pays what she thinks the product is worth
D. Contributes the same revenue.
7 Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.
A. Keynesian polices
B. Supply side policies
C. Monetarist policies
D. Classical policies
8 The value of an asset depends upon
A. Its scrap value
B. Its depreciation
C. The present value of the failure stream of income it can earn.
D. the cost of loans
9 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output
10 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

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