PPSC Economics Topic 11 Assess Your Basics MCQS

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PPSC Economics Chapter 11 Important MCQ's

Sr.#	Question	Answer
1	The single European Act committed_ governments to a ___ in 1992	A. European union, single market B. Western European, single currency area C. European union, single currency area D. Western European, single market
2	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
3	We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.	A. Smaller B. Larger C. the same size D. None of these
4	A current account deficit means that a country may.	A. Reduce its stock of foreign assets B. Increases its stock of foreign assets C. Increases its savings D. Increases its foreign currency reserves.
5	Short run average total costs are equal to the sum of _______ and______	A. Short run opportunity costs, profit B. Short run average variable costs, profit C. short run average variable costs, profit. D. Short run average variable costs short run average fixed costs
6	One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.	A. rise, increases, increases B. rise, falls, increases C. rise, increases, falls D. rise, falls, falls
7	A tariff causes domestic firms to __________ and consumers to	A. Overproduced, under consume B. overproduce , overconsume C. Underproduce, under consume D. underproduce, overconsume
8	The costs of inflation are	A. Shoe leather costs B. Menu costs C. Income redistribution D. All of the above
9	The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.	A. Prices, wages, output and employment. B. Output, prices, employment C. Nominal money, the price level output and employment. D. Nominal money output prices
10	If a long average cost rises, output rises from left to right this is an example of.	A. Increasing returns to scale B. Decreasing returns to scale. C. Constant returns to scale D. the minimum efficient scale

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PPSC Economics Topic 11 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

PPSC Economics Topic 11 Assess Your Basics

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

Nominal GNP measures income

When real income increases, other things equal we fan expect the demand for real money holdings to.

A person who is made redundant because of the contraction of an industry is a victim of.

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

The equilibrium price clears the market it is the price at which.

A competitive equilibrium is Pareto efficient because.

A good example of a public good is.

Marginal revenue is the ________ when output is.

The main cause of different relative costs between countries are.

In a competitive industry each buyer and seller.

Economics is the study of

If the MPC is 0.5 the multiplier is

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

Floating exchange rates are __ in the short run

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

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

The value of an asset depends upon

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

The firms long run output decision will be where.

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Topic Test

PPSC Economics Chapter 11 Test

Top Scorers Of PPSC Economics Topic 11 Assess Your Basics MCQ`s Test

PPSC Economics Chapter 11 Important MCQ's

Test Questions

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The neoclassical theory of growth identities the steady state rate of growth as the ___ just sufficient to keep _ constant while labour grows.

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