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

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Question # 1

A profit maximizing firm will hire labor until _______ equal the

Question # 2

International specialization takes place because of.

Question # 3

The value of an asset depends upon

Question # 4

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

Question # 5

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 6

Leakages from the circular flow are____ and _____

Question # 7

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

Question # 8

A supply curve is directly affected by

Question # 9

The cost of using capital services is the

Question # 10

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 11

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

Question # 12

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

Question # 13

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 14

The business cycle is not transmitted from one country to another through.

Question # 15

Skilled labour is relatively scarce because.

Question # 16

The retail price index is used to.

Question # 17

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

Question # 18

Injection into the circular flow are _________ and _______

Question # 19

A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.

Question # 20

When capital mobility is perfect, interest rate differentials will tend to be offset by

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

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Sr.# Question Answer
1 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
2 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
3 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
4 Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.
A. Externality
B. Market imperfection
C. Deadweight burden
D. Free rider
5 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality
6 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
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 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
9 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
10 The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.
A. Saving investment
B. Capital per person productivity
C. Labour growth , output
D. Investment capital per person

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