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

00:00
Question # 1

If I keep some money available in case I see a bargain this is an example of.

Question # 2

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

Question # 3

In a competitive industry each buyer and seller.

Question # 4

Market some times fall to exist because of.

Question # 5

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

Question # 6

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

Question # 7

Leakages from the circular flow are____ and _____

Question # 8

A profit maximizing firm will hire labor until _______ equal the

Question # 9

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

Question # 10

A tariff causes domestic firms to __________ and consumers to

Question # 11

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 12

Marginal revenue is the ________ when output is.

Question # 13

By restricting labour supply a trade union can _________ and_______

Question # 14

We cannot say whether one allocation of resources is better than another allocation because.

Question # 15

The opportunity cost of a student is.

Question # 16

The main cause of different relative costs between countries are.

Question # 17

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 18

In a free market

Question # 19

All of the following are type of monetary policy except

Question # 20

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.

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

Here you can prepare PPSC Economics Chapter 11 (Assess Your Basics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 A good example of a public good is.
A. Public transport
B. National defense
C. The national health service
D. Rail transport
2 When investment is assumed to autonomous the slope of the AD schedule is determined by the.
A. Marginal propensity to invest.
B. disposable income
C. Marginal propensity to consume
D. Average properisity to consume
3 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
4 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.
5 Leakages from the circular flow are____ and _____
A. Investment savings, government expenditure
B. Saving , taxes net of subsidies, imports
C. Consumption, investment , government expenditure.
D. Consumption, taxes, impports
6 If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.
A. a nonlinear relationship
B. A positive linear relationship
C. A scatter diagram
D. A negative linear relationship
7 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
8 Moral Hazard means that the act of insuring __________ that the desired outcome will occur.
A. Reduces the likelihood
B. Increase the likelihood
C. Guarantees
D. None of the above
9 The allocation of resources is not efficient it
A. The marginal cost of production does not equal society marginal benefit
B. The distribution is inequitable
C. Economic growth is low
D. Unemployment is high
10 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other

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