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

In the EMU a country's competitiveness can change because of.

Question # 2

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

Question # 3

The business cycle describes fluctuations in output around the.

Question # 4

The price elasticity of demand measures

Question # 5

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

Question # 6

A fall in investment demand can result from

Question # 7

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 # 8

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

Question # 9

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

Question # 10

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

Question # 11

The long run Philips curve is _________ at the ______

Question # 12

Market failure may arise because of.

Question # 13

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 14

Human capital can be described as.

Question # 15

The AD schedule indicates that______ inflation is associated with______ output.

Question # 16

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 17

Normative economics form ______ based on.

Question # 18

The Philips curve shows the trade off between ________ and _____

Question # 19

A competitive firms demand curve is.

Question # 20

All of the following are benefits of the single market except.

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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 Human capital can be described as.
A. The tools used by workers to entrances productivity
B. a persons inherited abilities.
C. The stock of expertise accumulated by a worker
D. Education
2 A dominant strategy is.
A. A winning strategy
B. A losing strategy
C. A players best strategy when moving fist
D. a player's best strategy whatever the strategies adopted by rivals
3 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
4 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
5 The total multiplier for the economy will reflect.
A. MPC and MPT
B. MPT and MPZ
C. MPC and MPZ
D. MPC, MPT and MPZ
6 Monetarists believe that a reduction in _____ can be achieved by reducing.
A. Unemployment, prices
B. Inflation, wages
C. Unemployment, wages
D. Inflation, the quantity of nominal money
7 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
8 The main cause of different relative costs between countries are.
A. Relative factors competition
B. Relative factor mobility
C. Relative factor substitution
D. Relative factor endowments
9 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
10 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.

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