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

A current account deficit means that a country may.

Question # 2

Extremality's arise because there is a divergence between ____ and _

Question # 3

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 4

a demand curve can shift because of changing.

Question # 5

At the intersection of AD and AS equilibrium is achieved in.

Question # 6

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 7

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 8

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

Question # 9

The value of an asset depends upon

Question # 10

A supply curve is directly affected by

Question # 11

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

Question # 12

The opportunity cost of a good is.

Question # 13

The long run Philips curve is _________ at the ______

Question # 14

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 15

If banks and the private sector decide to hold less cash the money multiplier will be.

Question # 16

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 17

In Nash equilibrium each player chooses the best strategy.

Question # 18

Comparing a monopoly and a competitive firm the monopolist will.

Question # 19

International specialization takes place because of.

Question # 20

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

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Sr.# Question Answer
1 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
2 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
3 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
4 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
5 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
6 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
7 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
8 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
9 In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators
A. Money supply targets
B. Income policy
C. Interest rates
D. Inflation targets
10 We cannot say whether one allocation of resources is better than another allocation because.
A. some people cant count
B. Some people may not be permanent residents
C. Not all economic activity is legal
D. We cant make value judgements to compare different people welfare.

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