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

00:00
Question # 1

Nominal GNP measures income

Question # 2

An increase in consumer income will increase demand for a __________ for decrease demand for a.

Question # 3

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 4

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

Question # 5

A current account deficit means that a country may.

Question # 6

In the circular flow we would expect leakages to __________ injections.

Question # 7

If a country has a burden of debt it cannot sustain it can.

Question # 8

If the MPC is 0.5 the multiplier is

Question # 9

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

Question # 10

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

Question # 11

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 12

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

Question # 13

Top footballers land to earn more than lecturers because.

Question # 14

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 15

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 16

The total multiplier for the economy will reflect.

Question # 17

All of the following are types of imperfect competition except

Question # 18

Short run average total costs are equal to the sum of _______ and______

Question # 19

By restricting labour supply a trade union can _________ and_______

Question # 20

Normative economics form ______ based on.

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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 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
2 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers
3 In the economy when a steel producer sells steel to car producer it is regarded as.
A. A final good
B. An intermediate good
C. an injection
D. a leakage
4 A tariff causes domestic firms to __________ and consumers to
A. Overproduced, under consume
B. overproduce , overconsume
C. Underproduce, under consume
D. underproduce, overconsume
5 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
6 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
7 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
8 If two firms doing the same thing in the same industry join together this is known as a.
A. vertical merger
B. Horizontal merger
C. Conglomerate merger
D. Hostile takeover
9 Market some times fall to exist because of.
A. Externalities
B. the free rider problem
C. Poor transport
D. a an b
10 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment

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