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

00:00
Question # 1

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

Question # 2

The cost of using capital services is the

Question # 3

Macro economics is the study of.

Question # 4

Leakages from the circular flow are____ and _____

Question # 5

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 # 6

A competitive firms demand curve is.

Question # 7

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

Question # 8

The retail price index is used to.

Question # 9

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

Question # 10

If two firms doing the same thing in the same industry join together this is known as a.

Question # 11

A straight line diagram can be drawn knowing the _______ and _____

Question # 12

A competitive equilibrium is Pareto efficient because.

Question # 13

The equilibrium inflation rate is determine by the intersection of __________ and ___

Question # 14

The key issues of macroeconomics are

Question # 15

Top footballers land to earn more than lecturers because.

Question # 16

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

Question # 17

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

Question # 18

Land will be allocated between competing uses so that.

Question # 19

All of the following represent obstacles to LDC development except.

Question # 20

LDC's often have a comparative advantage in the production of.

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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 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms
2 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.
3 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate
4 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
5 A natural monopoly has a declining ________ over a large range of output.
A. Long run marginal cost
B. Short run marginal cost
C. Long run average cost
D. Long run marginal cost
6 Real business cycle theories suggest that _____ to correct departures from the desired growth path.
A. There is a role of fiscal policy
B. There is a role for monetary policy
C. There is a role for supply side policies
D. There is no case for stabilizing output over the business cycle.
7 A rise in the real exchange rate will __ the competitiveness of the domestic economy.
A. Increase
B. reduce
C. do nothing do
D. all of these
8 import substitution is the replacement of ________ by domestic production under the protection of.
A. exports, subsidies
B. Exports, patents
C. imports, high tariffs or import quotes
D. Imports, subsidies
9 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
10 The prisoners Dilemma Game demonstrates that.
A. Players are better off to act independently
B. Monopoly is better than competition
C. People will always cheat
D. Players are better off if they con operate

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