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 competitive equilibrium is Pareto efficient because.

Question # 2

In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.

Question # 3

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 4

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 # 5

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

Question # 6

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

Question # 7

Economic transition involves high inflation because ______ and _____

Question # 8

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

Question # 9

The single European Act committed_ governments to a ___ in 1992

Question # 10

Economics assumes that people consume goods and services to achieve.

Question # 11

The level of the equilibrium exchange rate offsets international difference in.

Question # 12

The total multiplier for the economy will reflect.

Question # 13

The multiplier accelerator model assumes _______ depends on.

Question # 14

The prisoners Dilemma Game demonstrates that.

Question # 15

In a competitive industry each buyer and seller.

Question # 16

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 17

All of the following are type of monetary policy except

Question # 18

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

Question # 19

If desired spending in the economy exceeds income we would expect.

Question # 20

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

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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 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole
2 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
3 Injection into the circular flow are _________ and _______
A. Consumption, investment, exports
B. Investment exports, transfer payments
C. Investment government expenditure, exports.
D. Taxes, exports, transfer payments.
4 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
5 The multiplier tells us how much __________ chagnes after a shift in.
A. Consumption, income
B. Investment , output
C. Savings, investment
D. output, aggregate demand
6 Government may contribute to inflationary pressure on account of building up large.
A. Numbers of employees
B. Welfare plans
C. Budget deficits
D. Expenditure.
7 Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.
A. Move into surplus
B. Move into deficit
C. Remain unchanged
D. None of these
8 The business cycle is not transmitted from one country to another through.
A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labour supply changes
9 In the UK in recent years, union membership has ______ and days of work lost because of strikes has.
A. Grown, declined
B. declined, declined
C. declined, grown
D. grown , grown
10 With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.
A. Increased
B. Unaffected
C. Reduced
D. All of the above

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