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

A good example of a public good is.

Question # 2

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

Question # 3

Top footballers land to earn more than lecturers because.

Question # 4

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

Question # 5

Leakages from the circular flow are____ and _____

Question # 6

If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.

Question # 7

A firm that breaks even after all economic costs are paid is earning.

Question # 8

The prisoners Dilemma Game demonstrates that.

Question # 9

A dominant strategy is.

Question # 10

If the MPC is 0.5 the multiplier is

Question # 11

A competitive equilibrium is Pareto efficient because.

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

The total multiplier for the economy will reflect.

Question # 14

Potential output can be increased by _________ or by_________

Question # 15

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 16

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 17

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

Question # 18

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 19

All of the following are type of monetary policy except

Question # 20

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

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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 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
2 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above
3 Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.
A. Depreciation
B. Appreciation
C. fall
D. Devaluation
4 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
5 An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.
A. Reduce , reduce
B. Reduce , increase
C. Increased, increased
D. Increases, reduces
6 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
7 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
8 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
9 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
10 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z

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