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

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 2

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.

Question # 3

The short run Philips curve can shift in response to changes in

Question # 4

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.

Question # 5

A monopoly may be self perpetuating because profits may be used for

Question # 6

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

Question # 7

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

Question # 8

The real value can be derived from a nominal value by

Question # 9

The price elasticity of demand measures

Question # 10

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 11

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 12

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

Question # 13

If the MPC is 0.5 the multiplier is

Question # 14

A competitive firms demand curve is.

Question # 15

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 16

If a long average cost rises, output rises from left to right this is an example of.

Question # 17

A tariff causes domestic firms to __________ and consumers to

Question # 18

Normative economics form ______ based on.

Question # 19

If a country has a burden of debt it cannot sustain it can.

Question # 20

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

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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 The price elasticity of demand measures
A. The responsiveness of quantity demanded to a change in prie.
B. How far a demand curve shifts
C. A change in price
D. A change in quantity demanded
2 If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by
A. 20%
B. 2%
C. 12%
D. 15%
3 A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.
A. Reduction, increases
B. reduction,reduction
C. increase, reduction
D. increases, increases
4 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
5 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z
6 The opportunity cost of a student is.
A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying.
D. What the student will earn after graduation.
7 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.
8 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
9 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
10 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC

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