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

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 # 2

Women and non whiles on average receive lower comes than white men because.

Question # 3

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

Question # 4

Short run equilibrium output means that aggregate demand _ actual output

Question # 5

International difference in opportunity costs lead to countries acquiring.

Question # 6

In Nash equilibrium each player chooses the best strategy.

Question # 7

All of the following are parts of the business cycle except.

Question # 8

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 9

The opportunity cost of a good is.

Question # 10

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 # 11

In a competitive industry each buyer and seller.

Question # 12

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 13

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

Question # 14

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

Question # 15

Bank create money by

Question # 16

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

Question # 17

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

Question # 18

If the MPC is 0.5 the multiplier is

Question # 19

Leakages from the circular flow are____ and _____

Question # 20

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

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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 In the EMU a country's competitiveness can change because of.
A. Interest rate adjustment
B. Central bank intervention i the forex
C. Domestic wage and price adjustment
D. Devaluations
2 If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.
A. Private good
B. Merit good
C. Public good
D. Abundant good
3 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.
4 The equilibrium inflation rate is determine by the intersection of __________ and ___
A. demand, supply
B. IS , LM
C. AD, AS
D. Labour demand, labour supply
5 The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the.
A. Sun spect theory
B. Multiplier accelerator model
C. Solow theory
D. New classical theory
6 Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.
A. Imperfect labour markets
B. Rational expectations
C. Intertemporal decisions of households firms and government.
D. Sun spot cycles
7 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
8 If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.
A. Appreciate
B. Depreciate
C. Revalue
D. be in short supply
9 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
10 During periods of rising inflation and rising interest rates we expect the demand for real cash to.
A. rise
B. fall
C. not change
D. fluctuate

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